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SOURCE Pure Technologies Ltd.
CALGARY, June 12, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) announced today that it has been awarded new work worth approximately $8 million by the Board of Management of the Lake Huron Primary Water Supply System ("LHPWSS"), London, Ontario. The award is for the supply and installation of Pure's proprietary, acoustic fibre-optic ("AFO") monitoring system on a major water pipeline serving approximately 500,000 people spanning eight municipalities in the London area. The contract includes real-time pipeline monitoring services for two years.
After four pipeline failures (the latest in 2012), LHPWSS undertook a proactive approach to manage its critical pipeline through a technology-driven management program. Through leak detection and condition assessment surveys using the Company's SmartBall® and PipeDiver® inspection platforms, LHPWSS and Pure began to collect information on the existing condition of the pipeline. Subsequent to these inspections, LHPWSS verified and replaced three pipe sections showing high levels of distress, likely leading to failure, and identified additional pipes for future replacement. Once commissioned (approximately fourth quarter of 2014), Pure's AFO monitoring system will identify any further deterioration of the pipeline in real-time, preventing failures, and will allow LHPWSS to plan for future repairs if required.
Included in the total award amount is approximately $1.8 million for civil works and $1.1 million for real-time pipeline monitoring.
Information on the 2012 inspection and LHPWSS found here (with video):
Information on a follow up inspection found here:
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:
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).
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