Pure Technologies Announces New $4.2 Million Contract

Pure Technologies Ltd. (TSX: PUR) has announced that a major southern California water agency has authorized the award of a two-year service contract worth up to approximately $4.2 million to Pure’s wholly-owned subsidiary Pure Technologies U.S. Inc.

Under the contract, Pure will provide electromagnetic inspection and acoustic fiber-optic monitoring of the agency’s water distribution system comprised of prestressed concrete cylinder pipelines (PCCP) varying in diameter from 42 to 201 in. The agency owns and operates approximately 163 miles of PCCP that were constructed between 1965 and 1985. In 2004 and 2007, the Pressure Pipe Inspection Co. (PPIC), now a part of Pure, was commissioned by the agency to perform baseline electromagnetic inspections, which identified distressed pipe sections and segments requiring rehabilitation. This work led to the most recent contract announced.

“We are very pleased with the progress we’ve made in the Americas both as a result of the PPIC acquisition and as demand grows for cost-effective proactive management practices in a period of increasing budgetary constraints,” said Mark Holley, president of Pure Technologies U.S. Inc. “With the work we’ve obtained year-to-date, in addition to upcoming contract awards and renewals, we are well on track to continue our strong growth in the Americas.”