Kelso Technologies Inc. Wheel Cleaning System Ready for Commercial Operations
February 15 2018 - 8:00AM
Kelso Technologies Inc. (TSX:KLS) (NYSE American:KIQ) (“Kelso” or
the “Company”) is pleased to report that the Company’s commercial
testing of our new rail Wheel Cleaning System (“WCS”) has been
completed. The WCS is designed for rail wheel cleaning
operations to facilitate speed retardation in railroad hump yards
and industrial shipping facilities. The WCS is now
commercially proven which is the key prerequisite event to commence
full commercial sales of the WCS.
The tested WCS has been acquired by the customer
and is being utilized in full scale railroad operations. The
WCS is Kelso’s first product to feature a recurring revenue
stream. The cleaning shoes must be replaced as they wear out
during operations. It is recommended that WCS systems be sold
with OEM cleaning shoes and an additional set of replacement
shoes.
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. Another key feature of the WCS is that it
improves the effectiveness of speed retarders to reduce the number
of over speed incidents in train assembly operations. 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.
Our standard 46-foot WCS is a unique modular
design that can be transported to site and installed. Our
basic system is mechanical and does not require any external power
supply. It can be customized to accommodate various
contaminates as specified and can be automated if required to allow
signal operators to turn the system on or off.
James R. Bond, CEO of the Company comments that:
“Our technology development relationships with railroad customers
allow Kelso to build our brand in engineered technology solutions
for transportation operations. The WCS is an example of the
success of the new direction of our strategic plans to develop high
value products with recurring income streams from new
markets. Over time management expects to generate
multi-million dollar revenue streams from the full market
development of the WCS.”
About Kelso Technologies
Kelso is an engineering product development
company that specializes in the design, production and distribution
of proprietary service equipment used in transportation
applications. Our reputation has been earned as a designer
and reliable supplier of unique high performance rail tank car
equipment that provides for the safe handling and containment of
hazardous and non-hazardous commodities during transport. All
Kelso products are specifically designed to provide economic and
operational advantages to customers while reducing the potential
effects of human error and environmental harm. The Company
offers specialized truck tanker equipment, rail wheel cleaning
systems, fuel loading systems, military applications, first
responder emergency response kits and high performance suspension
systems for motor vehicles being used in rugged outback
terrains.
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 include
that the WCS is now commercially proven which is the key
prerequisite event to commence full commercial sales of the WCS;
that the WCS addresses the problematic issue of railcar wheels
“caking” with various commodities during operations; that the key
feature of the WCS is that it improves the effectiveness of speed
retarders to reduce the number of over speed incidents in train
assembly operations; that the industrial heavy-duty cleaning
capabilities provided by the WCS for railcar operations can
reliably maintain and improve the performance of rolling stock;
that our technology development relationships with railroad
customers allow Kelso to build our brand in engineered technology
solutions for transportation operations; that the WCS is an example
of the success of the new direction of our strategic plans to
develop high value products with recurring income streams from new
markets; and that over time management expects to generate
multi-million dollar revenue streams from the full market
development of the WCS. 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 |
Richard Lee, Chief
Financial Officer |
Corporate
Address: |
Email:
bond@kelsotech.com |
Email:
lee@kelsotech.com |
13966 - 18B
Avenue South Surrey, BC V4A 8J www.kelsotech.com |
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