CALGARY, Jan. 27, 2012 /CNW/ - Pure Technologies Ltd. ("Pure") (TSX: PUR) announced today that the Board of County Commissioners of Miami-Dade Water and Sewer Department ("WASD") has approved a contract worth approximately US$5.8 million for Pure's wholly-owned subsidiary, Pure Technologies US Inc.("Pure US"), to provide pipeline inspections and monitoring for WASD.
Under the contract, Pure will provide inspection and acoustic fibre-optic monitoring ("AFO") of WASD's water and wastewater systems comprised of prestressed concrete cylinder pipes ("PCCP"). The inspection and monitoring services will utilize a range of Pure's patented technologies including PipeDiver®, SmartBall® and SoundPrint® AFO.
The head office of Pure U.S., located in Colombia, Maryland, has enjoyed a successful relationship with WASD since 2010. Pure U.S. has also recently established an office in Miami-Dade.
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].