Pure Technologies Oil And Gas Pipeline Integrity Division Awarded New Work
CALGARY, Feb. 8, 2017 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) announced today that its oil and gas pipeline integrity division, PureHM, has recently received purchase orders totalling over $3 million from U.S.-based pipeline companies for inspection work to be executed in the first half of 2017. PureHM believes this is an early indication of its U.S. expansion strategy which began in early 2015. This new work includes confirmation of containment surveys using the Company's proprietary SmartBallTM technology on major pipeline infrastructure connecting refineries in the U.S. Gulf Coast to communities throughout the South and Eastern United States.
In addition, PureHM has recently signed a contract renewal – valued at $1 million per year for three years – from an energy customer located in B.C., Canada, for pipeline cathodic protection surveys and related services. This work represents an expected extension of services previously conducted through E-MAC Corrosion Inc., whose business and assets were acquired by the Company on December 30, 2016. Similar renewals are expected in the near future.
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;
- Recurring revenue from data analysis, site maintenance, and from technology licensing;
- Premium technical services including pipeline inspection, leak detection and condition assessment;
- Specialized engineering services in areas related to asset management, primarily in the area of pipeline condition assessment for water and wastewater infrastructure.
Forward-Looking Statements
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SOURCE Pure Technologies Ltd.
To find out more about Pure Technologies Ltd. (TSX: PUR), visit our website at www.puretechltd.com or contact Paul Moon, Director of Investor Relations; (403) 537-3244 or [email protected].
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