PITTSBURGH, July 14th, 2010 (BUSINESS WIRE) -- Geospatial Holdings, Inc. (OTCBB: GSPH) today announced that it has been awarded a contract to map a 12-inch high pressure gas line in supportof the Alameda Corridor Transportation Authority (ACTA) SR-47 Expressway Project in Long Beach, California. The project involves the utilization of Geospatial's Smart Probe Pipeline Mapping Technology to map approximately 2,600 lineal feet of existing high pressure gas pipeline installed over 90 feet in depth under a highly congested navigable waterway undergoing a major expansion. It is necessary to accurately locate and map this line as the overall project requires pilings to be driven in the area of the pipeline.
Mark A. Smith, Geospatial's CEO stated, "This project is an ideal example of the importance and versatility of our Smart Probe Mapping Technologies. I am not aware of any alternative method to map this pipeline under these challenging conditions and depths."
The Schuyler Heim Bridge Replacement and SR-47 Expressway Project is being advanced through a joint partnership between Caltrans and the Alameda Corridor Transportation Authority (ACTA). The project proposes to replace the seismically deficient Schuyler Heim Bridge over Cerritos Channel and add a four-lane elevated roadway connection to Alameda Street that will bypass three signalized intersections and five at-grade railroad crossings. The Heim Bridge is an essential service link between Terminal Island and the mainland in Wilmington.
Additional information on the overall project can be viewed athttp://www.acta.org/projects/projects_planning_SR47.asp
This project will provide an alternative route from Terminal Island, a major generator of port-relatedtruck traffic, and provide direct access to local distribution centers and warehousing facilities in the South Bay area, as well as I-405 and SR-91, thereby relieving congestion on the Harbor and Long Beach freeways.
The Schuyler Heim Bridge Replacement and SR-47 project will enhance the efficient, secure movementof goods at the nation's largest port complex, as well as reduce congestion and improve mobility.
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 usersto view and utilize this 3D pipeline mapping information securely from any desktop or via a standardbrowser. GeoUnderground seamlessly integrates with all known technologies gathering above-groundgeo-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 collectdata 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 mapunderground and above ground infrastructure assets such as pipelines and surface features via its GeoUnderground web-based portal.
Geospatial's Blog is available at: http://geospatialholdings.blogspot.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-lookingstatements. 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 ofidentifying 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 Reporton 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 orotherwise. 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.
SOURCE: Geospatial Holdings, Inc.