Business & Finance
Business and Finance
Business and Finance
Mon, August 2, 2010 Geospatial Holdings Completes Initial Project for Denver Water
PITTSBURGH--([ BUSINESS WIRE ])--Geospatial Holdings, Inc. (OTCBB: GSPH) today announced that its wholly-owned subsidiary Geospatial Mapping Systems, Inc., in conjunction with Carollo Engineers, has successfully completed its initial project to map and locate various pipelines for Denver Water in Denver, Colorado.
"Geospatial Corporation provided excellent service specific to our project needs and was well versed in a wide range of locating technologies, which allowed them to quickly and effectively narrow in on the best technologies for this project, the utility materials and the soil conditions."
Vincent Hart of Carollo Engineers, stated, aGeospatial Corporation provided excellent service specific to our project needs and was well versed in a wide range of locating technologies, which allowed them to quickly and effectively narrow in on the best technologies for this project, the utility materials and the soil conditions.a
Mr. Hart went on to say aThe Geospatial team was very conscious of the utilities when physical examination (potholing) was required and kept safety at the forefront of the investigation. Locating critical utilities such as natural gas and chemical feed lines was important to the success of the project and Geospatiala™s approach provided a high level of comfort, which resulted in successful data capture without any problems and minimal inconvenience to plant staff. Geospatial was very interested in providing the information in a format that was useable by all of the project stakeholders and worked hand-in-hand with the Denver Water survey group to provide a useful deliverable with robust quality control.a
Mark A. Smith, Geospatiala™s CEO stated, aWe look forward to providing more of these same types of services to Denver Water and continuing our relationship with Carollo Engineers. Our technology provides cost-effective methods and time saving features that continue to benefit many municipalities and utility owners.a
About Geospatial Holdings, Inc.
Geospatial Holdings, Inc. utilizes proprietary technologies to determine the accurate location and position of underground pipelines, conduits and other underground infrastructure data allowing Geospatial to create accurate (3D) three-dimensional digital maps and models of all underground infrastructure. Our website is [ www.GeospatialHoldings.com ].
GeoUnderground, the company's powerful (GIS) geographic information system database enables users to view and utilize this 3D pipeline mapping information securely from any desktop or via a standard browser. GeoUnderground seamlessly integrates with all known technologies gathering above-ground geo-referenced digital information and all standard GIS databases.
Licensed users, for the first time, have available to them a suite of technologies allowing them to collect data and create highly accurate 3D maps and models of both above-ground and below-ground infrastructure and view and share this invaluable information in a secure manner with their peers and associates anywhere in the world through a conventional browser via the internet.
Geospatial provides proprietary data acquisition technologies which accurately locate and map underground and above ground infrastructure assets such as pipelines and surface features via its GeoUnderground web-based portal. Our blog can be viewed at [ http://geospatialholdings.blogspot.com ].
About Carollo Engineers
Carollo Engineers is an environmental consulting firm specializing in planning, designing and construction management for the water and wastewater industry. For 73 years, Carollo has been a leading expert in the field, serving public agencies, municipalities, private developers and industrial companies nationwide. Carollo has eight locations in the state, including our Walnut Creek office at 2700 Ygnacio Valley Road, Suite 300, Walnut Creek, CA 94598. To learn more, visit [ www.carollo.com ].
About Denver Water
Denver Water proudly serves high-quality water and promotes its efficient use to 1.3 million people in the city of Denver and many surrounding suburbs. Established in 1918, the utility is a public agency funded by water rates, new tap fees and the sale of hydropower, not taxes. It is Colorado's oldest and largest water utility.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. The Company makes forward-looking statements in this news release that represent the Company's beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to the Company and on management's beliefs, assumptions, estimates and projections and are not guarantees of future events or results. When used in this document, the words "anticipate," "estimate," "believe," "plan," "intend," "may," "will" and similar expressions are intended to identify forward looking statements, but are not the exclusive means of identifying such statements. Such statements are subject to known and unknown risks, uncertainties and assumptions, including those referred to in the "Risk Factors" section of the Company's Annual Report on Form 10-K. for the year ended December 31, 2009 and in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Report on Form 8-K filed with the Commission. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. In addition, our actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, we do not assume a duty to update forward-looking statements whether as a result of new information, future events or otherwise. Investors should, however, review additional disclosures made by the Company from time to time in its periodic filings with the Securities and Exchange Commission. Please use caution and do not place reliance on forward-looking statements. All forward-looking statements made by the Company in this news release are qualified by these cautionary statements.
