CALGARY, March 1, 2012 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) is pleased to announce that Helge Daebel, Dr. sc. techn., has joined its Board of Directors as the representative of Emerald Technology Ventures ("Emerald"). Dr. Daebel is currently an Investment Director with Emerald, a leading venture capital fund focused exclusively on the clean technology sector.
Dr. Daebel has been responsible for the water sector within Emerald - defining strategy, driving investment processes and supporting portfolio companies. He has acted as an advisor and board observer to inge watertechnologies, AquaSpy, The Pressure Pipe Inspection Company ("PPIC") and Takadu. Prior to joining Emerald, he conducted research at the Swiss Federal Institute of Aquatic Science and Technology (eawag) in the Environmental Engineering Division.
Pursuant to terms related to Pure's acquisition of PPIC in 2010, Mr. Scott MacDonald was appointed to Pure's Board of Directors as Emerald's representative. Mr. MacDonald has since departed Emerald, but will remain on the Board as an Independent Director of the Company.
Mr. MacDonald is a co-founder of McRock Capital and was previously a Partner with Emerald Technology Ventures. He previously served as Chairman of RuggedCom (TSX: RCM) and SynapSense Corporation and was a Director for The Pressure Pipe Inspection Company, SoftSwitching Technologies Inc., Solicore Inc, WatrHub Inc., and Vaperma Inc. Mr. MacDonald also previously held the position of Managing Director in the venture capital subsidiary of Ontario Power Generation, a large North American electrical utility.
About Pure Technologies Ltd.
Pure Technologies Ltd. is an international asset management technology and services company which has developed patented technologies for inspection, monitoring and management of critical infrastructure around the world. Pure's business model incorporates four distinct but complementary business streams:
- Sales of proprietary monitoring technologies for pipelines, bridges and structures (SoundPrint®, SoundPrint® AFO);
- Recurring revenue from data analysis and site maintenance for these technologies, and from technology licensing;
- Premium technical services including inspection, leak detection and condition assessment (P-Wave®, SmartBall®, Sahara®, PipeDiver®, PureRobotics™);
- Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure (Openaka Corp., Price Brothers UK Ltd, and Jason Consultants).
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words "believes", "expects", "anticipates", "estimates", "intends", "plans", or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and the Company's actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of Management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in, the Company's filings with Securities Regulators (www.sedar.com).
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For further information:
To find out more about Pure Technologies Ltd. (TSX: PUR), visit our website at www.puretechltd.com. Or contact James E. Paulson, Chairman, Karen Keebler, Chief Financial Officer or Paul Moon, Investor Relations at (403) 266-6794 or e-mail to [email protected]