PURE TECHNOLOGIES ANNOUNCES NEW CONTRACT IN MEXICO WORTH APPROXIMATELY US
$2.4 MILLION
CALGARY, Oct. 25 /CNW/ - Pure Technologies Ltd., ("Pure") (TSX-V: PUR) is pleased to announce today it has recently been awarded a contract with the Organismo de Cuenca Aguas del Valle de Mexico, Cutzamela, Mexico worth approximately US $2.4 million.
Pure will provide SoundPrint® Acoustic Fiber Optic (AFO) technology for continuous monitoring of approximately 25 kilometers of pipelines, and ongoing monitoring and technical support. The two parallel pipelines provide treated drinking water to roughly 5 million residents of Mexico City, 30 percent of the city's total population. While this is the first AFO project in Mexico, electromagnetic inspections of the Cutzamela pipeline system were previously performed by Pure's subsidiary The Pressure Pipe Inspection Company (PPIC).
Pure recently announced a contract award with the International Water Services (Interagua), Guayaquil, Ecuador worth approximately US $2 million. These are Pure's first major commercial contracts in Latin America and are a direct result of the increased business development activities described in the Business Update issued in January of this year.
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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