PURE TECHNOLOGIES ANNOUNCES NEW CONTRACT
CALGARY, Sept. 24 /CNW/ - Pure Technologies Ltd. (TSX-V: PUR) today announced that its subsidiary, the Pressure Pipe Inspection Company (PPIC), has been awarded a contract with the Hong Kong Water Supplies Department worth approximately US $1.3 million.
Services in this contract include the use of Sahara(R) tethered inline condition assessment of water pipelines for approximately a five month period. Sahara technology will be used for leak detection, video inspection, and pipe wall thickness measurement of 128 sections of pipe. The project will be managed by Pure Technologies China Ltd.
"Building on the success of a previous Sahara inspection in Hong Kong, this project demonstrates our continued presence in the region," said David Roy, Director of International Development. "We believe that our condition assessment work in Hong Kong will serve to open doors in other valuable regions within China."
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(R), SoundPrint(R) 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(R), SmartBall(R), Sahara(R), PipeDiver(TM), PureRobotics(TM)); - 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).
Forward-Looking Statements
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-V: PUR), visit our website at www.puretechnologiesltd.com. Or contact James E. Paulson, Chairman or Karen Keebler, Chief Financial Officer at (403) 266-6794 or e-mail to [email protected].
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