Pure Technologies Ltd. is pleased to announce that it has signed new multi-year licensing agreements with major North American oil pipeline operators.
The agreements allow for the use of Pure's SmartBall® technology to inspect oil and refined product pipelines over three years and are expected to generate approximately $3.5 million over this period.
The SmartBall system is a patented, innovative leak detection technology and multi-sensor device for use in water, wastewater and oil & gas pipelines. It consists of a free-swimming ball with an instrumented aluminum alloy core capable of detecting very small acoustic events in pressurized pipelines. It can also log pressure, temperature and stress changes within the pipeline. The SmartBall system can be inserted into a pipeline and can travel with the fluid flow for up to 18 days, collecting information over many miles of pipeline in a single deployment.
The Company has been offering its services to the oil and gas pipeline industry since 2007. In 2013, Pure inspected over 7,000 km of oil pipeline, an increase of over 120% compared to the previous year. Overall, there has been an increase in the amount of oil pipeline inspection using SmartBall technology, partly driven by proactive pipeline operators and regulators. The Company is currently reviewing additional business development initiatives aimed to sustain and accelerate further growth in this sector.