PURE TECHNOLOGIES ANNOUNCES NEW CONTRACT IN ECUADOR
CALGARY, Oct. 20 /CNW/ - Pure Technologies Ltd., ("Pure") (TSX-V: PUR) is pleased to announce today it has recently been awarded a contract with the International Water Services (Interagua), Ecuador worth approximately US $2 million.
Pure will provide condition assessment services for the pipeline that supplies drinking water to the 2.5 million residents of Guayaquil, Ecuador. The contract includes the use of SmartBall® leak detection technology for 60 kilometers of large diameter trunk mains, in addition to PipeDiver™ electromagnetic inspection of 23 kilometers of prestressed concrete cylinder pipeline (PCCP). In addition, Pure's subsidiary Jason Consultants LLC will provide engineering assessment and rehabilitation consulting services.
"This contract demonstrates Pure's first major commercial contract in the region and demonstrates the increased business development activities described in the Business Update issued in January of this year," said Muthu Chandrasekaran, Director of Business Development for South America. "With increasing populations and aging critical infrastructure, the need for effective pipeline leak detection, condition assessment and monitoring programs is critical to the region. Pure is well-positioned to provide these services."
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).
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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