Press release from CNW Group
Pure Technologies awarded new work in the U.S. and other international markets
Monday, March 04, 2013
Pure Technologies awarded new work in the U.S. and other international markets09:00 EST Monday, March 04, 2013CALGARY, March 4, 2013 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) announced today that it has been awarded new work in the U.S., Middle East and New Zealand for an aggregate contract value of approximately $2 million.The Company has been selected as a member of a consultant team working towards the delivery of a comprehensive, water master plan for a major U.S. water utility. The master plan will allow for the implementation of a proactive asset management strategy to extend the life of existing and future water infrastructure in a cost-effective manner. Pure's role during the contract will be to develop and implement a pipeline condition assessment program, utilizing a number of the Company's proprietary technologies, and to conduct forensic analysis on water main breaks in the system. The condition assessment tools expected to be deployed include Pure's proprietary PipeDiver®, SmartBall® and Sahara® inspection technologies. The contract is divided into 3 phases. Phase 1 of the program, worth up to approximately $1 million to Pure, will be overseen by the Company's San Diego office with work expected to commence in the first quarter of 2013. Additional phases of this major program will be announced moving ahead.In addition, Pure has been awarded new work in the Middle East and New Zealand to conduct electromagnetic testing on water pipelines. This work, expected to commence during the first and second quarters of the year, utilizes one or more of Pure's technology platforms such as the PipeDiver tool. In aggregate, the contract value for these projects is approximately $1 million and has the potential to grow in size and scope.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 pipeline 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this release" SOURCE: Pure Technologies Ltd.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, Karen Keebler, Chief Financial Officer or Paul Moon, Investor Relations at (403) 266-6794 or e-mail to firstname.lastname@example.org.