PITTSBURGH, July 25, 2016 /PRNewswire/ -- Geospatial Corporation (OTCIQ Symbol "GSPH") announces the long awaited passage of the PIPES ACT of 2016. The bill, recently signed into law by President Obama, empowers the Pipeline Hazardous Material Safety Administration ("PHMSA") to require various certifications, data management, testing and mapping of all types of the more than 3 million miles of buried energy pipelines across the USA.
"Geospatial is perfectly positioned to benefit from the new PHMSA regulations," said Mark Smith, Chairman and CEO of Geospatial Corporation. "The Oil and Gas markets are a major part of our current and future business and recently we have clients giving serious attention to accuracy and completeness of their asset mapping in anticipation of the new regulations. The PIPES ACT impacts all segments of the industry, including gathering systems, transmission and distributions systems."
As a Google Maps Technology Partner, Geospatial is uniquely positioned to provide management capabilities, technology, software and data management processes to owners of critical underground infrastructure located across the USA in compliance with this important piece of legislation.
About Geospatial Corporation
Geospatial Corporation utilizes integrated technologies to determine the accurate location and position of underground pipelines, conduits and other underground infrastructure data allowing Geospatial to create accurate three-dimensional (3D) digital maps and models of underground infrastructure. Our website is www.GeospatialCorporation.com. The Company manages this critical infrastructure data on its cloud-based GIS portal called GeoUnderground, our proprietary GIS platform custom designed around the Google Maps API.
GeoUnderground, designed around the Google Maps API, is Geospatial's cloud-based GIS platform that provides clients with a total solution to their underground and aboveground asset management needs. (www.GeoUnderground.com). Please feel free to download a free trial from this website. Geospatial is a Google Maps Technology Partner
Forward Looking Statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements, if any, are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings or as a result of other factors.
SOURCE Geospatial Corporation