Pure Technologies announces $13 million in new work
19 Agosto 2010 - 5:00PM
PR Newswire (Canada)
CALGARY, Aug. 19 /CNW/ -- CALGARY, Aug. 19 /CNW/ - Pure
Technologies Ltd., TSX-V: PUR: announced today that Washington
Suburban Sanitary Commission, Laurel, Maryland ("WSSC") has
approved the issue of a US$7.75 million change order to an existing
US$9 million, 3-year engineering services contract with Openaka, a
division of a wholly-owned subsidiary of Pure Technologies Ltd.
("Pure"). The change order covers an expansion of the inspection,
assessment and monitoring program, which commenced in 2009. The
program includes the deployment of Pure's SmartBall(R), P-Wave(R)
and SoundPrint(R) AFO acoustic fibre-optic monitoring technologies.
The work covered by the change order is expected to be completed
within the next eighteen months, whereupon WSSC has an option to
increase the contract by up to US$9 million for a further
three-year period. Within the past few weeks, Pure and its
subsidiaries have also been awarded a number of other projects
worth approximately $5.5 million. These include: - City of
Cleveland, Ohio: Pure Technologies U.S. Inc. ("Pure U.S.") will
undertake manned visual and robotically assisted video inspections;
leak detection surveys utilizing SmartBall(R); and electromagnetic
assessment of prestressed concrete cylinder pipe (PCCP) using
P-Wave(R) inspection technology. - City of Rockville, Maryland:
Pure U.S. will undertake P-Wave and visual inspections, as well as
a SmartBall leak detection survey of up to 9.6 miles of PCCP. This
will be followed by an engineering evaluation performed by Openaka.
- Baltimore County, Maryland: Jason Consultants LLC, a wholly-owned
subsidiary of PureService Inc., will provide professional
engineering services for inspecting sanitary sewer force mains as
part of a joint venture with Patton Harris Rust Associates,
Columbia, MD. Pure U.S. and Openaka Inc. will supply inspection and
condition assessment services including SmartBall leak & gas
pocket detection surveys, P- Wave robotic inspections of PCCP, and
pipe-wall thickness testing. - City of Green Bay, Wisconsin:
Pressure Pipe Inspection Company ("PPIC"), a wholly-owned
subsidiary of Pure, will undertake a PipeDiver(TM) inspection of
two 11-mile parallel water mains - over half of the city's total
PCCP infrastructure. - City of Louisville, Kentucky: PPIC will
undertake a Remote Field Transformer Coupling (RFTC) inspection of
approximately 5 miles of pipeline as part of a 10-year program to
assess the City's PCCP infrastructure. - City of Lewiston, Maine:
PPIC will undertake a Sahara(R) leak detection survey of the
Lewiston Transmission Main. The pipeline system, which is the only
source of water for the city, provides 4 million gallons of water
per day. Following these awards, Pure's consolidated backlog,
including verbal notification of awards but excluding recurring
revenue and revenue generated by Price Brothers (UK) Ltd., stands
at approximately $51.5 million. Commenting on the awards, Jack
Elliott, Pure's President said: "These recent contract awards
emphasize the growing interest by water utilities in Pure's asset
management technologies and services. The WSSC contract extension
is an endorsement of our approach to technology-driven proactive
management and maintenance of buried infrastructure. The value of
this strategy was recently highlighted when WSSC was able to
prevent a rupture of a 96-inch water main because of information
provided by Pure's SoundPrint AFO fibre-optic monitoring
technology. The Cleveland and Rockville projects are the first
major contracts for our PureRobotics(TM) platform, announced
earlier this year. "The work awarded to PPIC is the first new work
secured since the closing of the transaction on August 13th last.
It validates the rationale for the acquisition as Pure competed
against PPIC on two of the projects. The integration process is
well under way and we are delighted with the technical
complementarities between the companies and the high caliber of the
people we have added." 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). (R) Registered Trademarks,
property of Pure Technologies Ltd. "The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or
accuracy of this release" %SEDAR: 00006060E 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 info@puretechnologiesltd.com
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