Press release from CNW Group
Pure Technologies Announces New Work Worth Approximately US$2 Million
Thursday, September 22, 2011
Pure Technologies Announces New Work Worth Approximately US$2 Million06:00 EDT Thursday, September 22, 2011CALGARY, Sept. 22, 2011 /CNW/ - Pure Technologies Ltd., ("Pure") (TSX: PUR) is pleased to announce today that it has recently been awarded new work in the United States for a combined value of approximately US$2 million. The services provided with these projects span the full range of Pure's inspection, condition assessment and engineering services for water and wastewater pipelines included in the following contracts:City of Austin, Texas: Pure Technologies U.S. Inc. ("Pure U.S") will provide non-destructive condition assessment and leak detection services for the City of Austin water utility which services roughly 900,000 people in the Austin area. This major pipeline network is comprised of a total of 3,646 miles of transmission and distribution mains. This significant contract builds on other work obtained in the state including a multi-year contract with the City of Dallas.City of Anchorage, Alaska: A combination of services including electromagnetic inspection, SmartBall® leak detection, and engineering analysis will be performed for the water and wastewater utility that services the Anchorage area.Cary, North Carolina: Pure U.S. will provide condition assessment services of several sewer force mains. This work demonstrates Pure's growing presence in the wastewater market."Our overall service offering to the water and wastewater market is becoming more and more attractive as we are able to meet the needs of agencies faced with deteriorating infrastructure, water loss and shrinking budgets," said Jamie Paulson, Chairman. "The new work we've recently obtained in the U.S. shows that our efforts to grow business in the Americas are being rewarded as we continue to obtain high-value, multi-year program opportunities."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 revenuefrom data analysis and site maintenance for these technologies, and from technology licensing;Premium technical servicesincluding inspection, leak detection and condition assessment (P-Wave®, SmartBall®, Sahara®, PipeDiver™, PureRobotics™);Specialized engineering servicesin 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 StatementsThis 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). ® 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"For further information: To find out more about Pure Technologies Ltd. (TSX: PUR), visit our website at www.puretechltd.com. Or contact James E. Paulson, Chairman or Karen Keebler, Chief Financial Officer at (403) 266-6794 or e-mail to firstname.lastname@example.org.