Kelso Technologies Inc. Update on the Development of New Technologies
September 07 2017 - 8:00AM
Kelso Technologies Inc. (TSX:KLS) (NYSE American:KIQ) (“Kelso” or
the “Company”) reports the following update on technology
developments.
Rail Wheel Cleaning System
Further to our press release of June 6, 2017 our
Class I railroad technology partner has successfully installed and
is operational on a beta test site for our new Rail Wheel Cleaning
System (“WCS”). The WCS is designed for rail wheel cleaning
operations in railroad hump yards and industrial shipping
facilities. The WCS is being tested and evaluated in one of
the largest rail yard operations in North America.
Our WCS is a unique proprietary (patent pending)
rail wheel cleaning system that has been designed in co-operation
with Class I railroads. It addresses the problematic issue of
railcar wheels “caking” with various commodities during operations
and assists in the reduction of “over-speed” infractions in a
railroad hump yard. The industrial heavy-duty cleaning
capabilities provided by the WCS for railcar operations can
reliably maintain and improve the performance of rolling
stock. Some of the more challenging commodities addressed by
the WCS include crude oil/tar, salt water slurry, flour water
slurry, Portland cement, lime powder slurry, sugar water slurry,
potash and sulfur.
This Beta Site test is a key development and
prerequisite event that is expected to lead to full commercial
sales of the WCS. To date testing is going very well and
there is much interest in this technology coming from railroad
operators and industrial users.
ASCS Truck Technologies
Further to our press release of May 25, 2017,
the Company is nearing completion of the conversion of its first
commercial 2017 Ford F150 truck. The vehicle features seven
new suspension-related patents (pending) that have been articulated
in one vehicle to provide heavy duty performance capability in
challenging rugged sloped terrains. Initial production plans
covering supply chain and facilities for the conversion of up to
500 vehicles has been established. Implementation of the
production plans and marketing initiatives are expected to commence
in October 2017.
As previously announced Kelso has filed a United
States provisional patent application and a corresponding Canadian
patent application for an Active Suspension Control System and
Method for No-Road Vehicles (ASCS). The ASCS patent
applications are owned by Kelso and cover numerous new technologies
including computer automation software. Kelso anticipates
filing further patent applications relating to the ASCS technology
as Kelso continues to develop and improve its ASCS
technologies.
The innovations disclosed in the ASCS patent
applications are believed to be unique and to represent a dramatic
improvement over existing technologies presently used in commercial
combined road and no-road vehicles. Vehicles featuring the
ASCS technologies are expected to provide new distinct advantages
to commercial customers in terms of safety, performance and
economic efficiencies. The basic design premise of the ASCS
technologies is to manage the center-of-gravity of the vehicle
while in motion with heavy duty automated air suspension.
This ensures that the driver, passengers and payload remain in a
stable level position when driving in difficult rugged sloped
terrains including flooded areas. The ASCS technology package
is well suited for use in desert, mountain, snow and low lying
water environments.
New commercial revenues are expected to be
derived from customers requiring reliable commercial performance in
operations involving applications in search & rescue, military,
railroad, police & border patrol, first responders, railroads,
mining, forestry, agriculture, ranching, pipelines,
telecommunications, oil, gas and electric transmission.
Truck Tanker Equipment
Our combined PRV/VRV valve specifically designed
for truck tanker applications has been installed in a commercial
vehicle and is undergoing suitability testing by a large transport
company. There are no regulatory requirements to be met on
this product as ASME manufacturing regulations have been met.
The Company is actively marketing this product with other
stakeholders in the transportation industry. Once the PRV/VRV
testing is satisfactorily completed the next step is to introduce
our trucking one-bolt manway.
James R. Bond, CEO of the Company comments that:
“Despite the current recession in specialized rail tank car
equipment our relationships with technology stakeholders has
allowed Kelso to continue to build our brand through new engineered
technology solutions for transportation operations. The ASCS
and WCS are examples of the new direction of our strategic plans to
create high value products (over $200,000 per unit) that can
generate multi-million dollar revenues in the future.
Management will continue to initiate product development in new
markets in addition to Kelso’s established line of rail tank car
products. Our goal is to succeed in our business plans and
dramatically improve our growth of financial performance through
diversification.”
About Kelso Technologies
Kelso focuses on the creation of innovative
engineered product solutions for a wide range of applications in
transportation markets. Our rail tank car division has
successfully created and distributed a suite of proprietary
equipment used in the safe handling and containment of hazardous
materials during transport. New product strategies
concentrate on a wider range of technology products that are
designed to provide unique economic benefits and safe operational
advantages to customers while reducing the potential effects of
human error and environmental harm.
For a more complete business and financial
profile of the Company, please view the Company's website at
www.kelsotech.com and public documents posted under the Company’s
profile on www.sedar.com in Canada and on EDGAR at
www.sec.gov in the United States.
On behalf of the Board of
Directors,
James R. Bond, CEO and President
Legal Notice Regarding Forward-Looking
Statements and Information: This news release contains
“forward-looking statements and information” within the meaning of
applicable securities laws. Forward-looking statements are
indicated expectations or intentions. Forward-looking
statements in this news release include without limitation: that
there is interest in the WCS technology coming from railroad
operators and industrial users; this testing is a key development
and prerequisite event that is expected to lead to full commercial
sales of the WCS; that the Company is nearing completion of the
conversion of its first commercial 2017 Ford F150 truck with ASCS
technology; the vehicle features seven new suspension-related
patents (pending) that have been articulated in one vehicle to
provide heavy duty performance capability in challenging rugged
sloped terrains; that initial production plans cover supply
chain and facilities for the conversion of up to 500 vehicles has
been established; that implementation of the production plans and
marketing initiatives are expected to commence in October 2017; and
that the ASCS and WCS are examples of the new direction of our
strategic plans to create high value products (over $200,000 per
unit) that can generate multi-million dollar revenues in the
future; that ASCS patent applications are believed to be unique and
to represent a dramatic improvement over existing technologies
presently used in commercial combined road and no-road vehicles;
that the ASCS technologies are expected to provide new distinct
advantages to commercial customers in terms of safety, performance
and economic efficiencies, all of which will result in new
commercial revenues from many types of user; that we will
soon introduce our trucking one-bolt manway; and that we will
continue to initiate product development in new markets.
Although Kelso believes its anticipated future results, performance
or achievements expressed or implied by the forward-looking
statements are based upon reasonable assumptions and expectations,
they can give no assurance that such expectations will prove to be
correct. The reader should not place undue reliance on
forward-looking statements as such statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Kelso to differ
materially from anticipated future results, performance or
achievement expressed or implied by such forward-looking
statements. Such risks and uncertainties include, without
limitation, the risk that the Company’s products may not work as
well as expected; we may not be able to break in to new markets,
because such markets are served by strong and embedded competitors
or because of long term supply contracts; and we may not be able to
grow and sustain anticipated revenue streams. We may have
underestimated the cost of product development and the time it
takes to bring products to market; we may not be able to finance
our intended product development. Our products may not sell as well
as expected, and competitors may offer better or cheaper
alternatives to our products. Our technologies may not be
patentable, and if patents are granted, we may not protect our
investment in intellectual property if our patents are challenged.
Our intended technologies may infringe on the intellectual property
of other parties. We may not have any parties interested in
licensing our technology as expected. Except as required by law,
the Company does not intend to update the forward-looking
information and forward-looking statements contained in this news
release.
The forward-looking information and statements
contained in this document speak only as to the date of this
document, and Kelso does not assume any obligation to publicly
update or revise them to reflect new events or circumstances,
except as may be required pursuant to applicable laws.
For further information, please contact:
James R. Bond, CEO and President
Email: bond@kelsotech.com
Richard Lee, Chief Financial Officer
Email: lee@kelsotech.com
Corporate Address:
13966 - 18B Avenue
South Surrey, BC V4A 8J
www.kelsotech.com
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