PURE TECHNOLOGIES ANNOUNCES US$17.2 MILLION IN NEW WORK
For Immediate Release
January 18, 2012 Calgary, Alberta
Pure Technologies Ltd. (“Pure”) (TSX: PUR) announced today that Washington Suburban Sanitary Commission (“WSSC”), Laurel, MD., has approved the award of new work to Openaka (a division of Pure’s Engineering Services Group) worth up to US$17.2 million. The award consists of the exercise of an option to extend a contract awarded to Openaka in January 2009 by US$9 million, and a change order for US$8.2 million to extend the scope of inspection and monitoring services from pipelines greater than 48” diameter to pipelines greater than 36” diameter.
Under the contract, Openaka will provide inspection, condition assessment, integrity monitoring and risk analysis services to assist WSSC in the management of its prestressed pipelines. Technologies to be deployed under the contract will include Pure’s SmartBall® leak detection system, PureRobotics® electromagnetic inspection system and SoundPrint® AFO optical fiber acoustic monitoring system.
WSSC has approximately 350 miles of prestressed concrete pipelines greater than 16” diameter in its system. To date, Openaka has inspected, and is monitoring, approximately 60 miles of pipeline. The expansion of the contract will extend the program to approximately 130 miles.
Commenting on the award, Mike Higgins, Vice President of Pure’s Engineering Services Group said: “The WSSC pipeline management program is one of the most advanced asset integrity management programs anywhere in the world. WSSC is using technology-driven solutions to extend the life of its critical transmission mains at a fraction of the cost of replacement of the assets. At a time when water and wastewater utilities are faced with increasing challenges maintaining aging infrastructure under severe budgetary constraints, this program serves as a model for responsible fiscal management. The expansion of the program is validation of this strategy and we are proud to work with WSSC on its execution.”
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 pipeline inspection, leak detection and condition assessment (PureEM™, SmartBall®, Sahara®, PipeDiver®, PureRobotics™, PureMFL™);
- 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).
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 Manager at (403) 266-6794 or e-mail to firstname.lastname@example.org.
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