Kelso Technologies Inc. KIQ X Industries – Update on Active Suspension Control System
May 16 2018 - 8:00AM
Kelso Technologies Inc. (“Kelso” or the “Company”), (TSX:KLS),
(NYSE American:KIQ) reports that its wholly owned subsidiary KIQ X
Industries (KIQX) is approaching final engineering designs for its
commercial production vehicle featuring Kelso’s proprietary
(patents pending) Active Suspension Control System (ASCS).
The design prototype vehicle is going through DOT inspections at
this time to ensure compliance.
Effective June 1, 2018 KIQX will open a leased
3,400 square foot business facility in Kelowna to operate
administration, marketing, driver education, spare parts, repairs
and maintenance, sales, distribution and product development.
For convenience the premise is located several blocks from the
Company’s sub-contracted production facilities. The Company
is completing production tooling and beginning to engage supply
chain administration for conversion of multiple vehicles that will
be available to the market.
The Company’s ASCS has been developed with
emphasis on providing distinct advantages to customers in terms of
better safety characteristics and more effective operational
capabilities while mitigating the impact of human error and
environmental damage in outback operations. The ASCS is ideal
for customers who need to traverse rough outback terrain in a
wheeled vehicle for the purpose of reaching remote destinations
with multiple passengers and maximum payload. Although
designed for commercial use it is well suited for both industry and
leisure markets.
The Company’s key design dynamic is safety with
minimal environmental impact. The engineering incorporated in
Kelso’s ASCS is based on thirty years of research and experience
and over 24 custom vehicle builds. The ASCS is believed to
represent a dramatic improvement over existing technologies
presently used in commercial combined road-no-road
vehicles. At just under 2 pounds PSI (humans range from
5 to 9 pounds PSI) the ASCS equipped vehicle will have minimum
environmental impact on outback operations due to the distribution
of the overall weight of the vehicle.
The key advantage of the ASCS is its ability to
adjust the center-of-gravity of the vehicle during operations with
its proprietary automated gyroscopic controlled air
suspension. This ensures that the driver, passengers and
payload remain in as safe, stable and level position as possible
when driving in difficult rugged outback terrains including flooded
areas. The ASCS technology package is well suited for use in
desert, mountain, snow and low lying water regions around the
world.
James R. Bond, CEO of the Company comments “We
believe that there is a large under serviced commercial outback
market where specialized technology that can safely improve
performance will be welcome. Kelso also believes that our
ASCS may be the most unique, safest and capable suspension system
in the world for motor vehicles being used in rugged outback
terrains. The commercialization of the ASCS is expected to
give Kelso the potential of developing multi-million dollar
opportunities in future periods. We believe that the
Company’s ASCS combined with our specialized rail technologies
provides a strong diversified product platform that can provide the
Company with reliable business growth opportunities and a steady
improvement of financial returns for years to come.”
About Kelso Technologies
Kelso is an engineering product development
company that specializes in the development, production and
distribution of proprietary service equipment used in
transportation applications. Our reputation has been earned
as a developer and reliable supplier of unique high performance
rail tank car equipment for the handling and containment of
hazardous and non-hazardous commodities during transport. All
Kelso products are developed with emphasis on economic and
operational advantages to customers while mitigating the impact of
human error and environmental release. The Company offers
specialized truck tanker equipment, rail wheel cleaning systems,
fuel loading systems, military applications, first responder
emergency response kits and 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: This news release contains “forward-looking
statements” within the meaning of applicable securities
legislation. Forward-looking statements are indicated expectations
or intentions. Forward-looking statements in this news release
include that we believe that there is a large under serviced
commercial outback market where specialized technology that can
safely improve performance will be welcome; that Kelso believes
that our ASCS may be the most unique, safest and capable suspension
system in the world for motor vehicles being used in rugged outback
terrains; that our ASCS product is well suited for both industry
and leisure markets; that ASCS is a dramatic improvement over
existing technologies presently used in commercial combined
road-no-road vehicles; that the ASCS equipped vehicle will have
minimum environmental impact on outback operations due to the
distribution of the overall weight of the vehicle; that the
commercialization of the ASCS is expected to give Kelso the
potential of developing multi-million dollar opportunities in
future periods; that we believe that our ASCS combined with our
specialized rail technologies provides a strong diversified product
platform that can provide the Company with reliable business growth
opportunities and a steady improvement of financial returns for
years to come. Although Kelso believes its anticipated future
results, performance or achievements expressed or implied by the
forward-looking statements and information 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 and
information as such statements and information 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
and information, including without limitation the risk that
regulatory deadlines for compliance may be delayed or cancelled;
the Company’s products may not provide the intended safety,
economic or operational advantages for reasons currently
unforeseen; or reduce the potential effects of human error and
environmental harm; or grow and sustain anticipated revenue
streams; orders may be cancelled and competitors may enter the
market with new product offerings which could capture some of our
market share; and our new equipment offerings may not capture
market share as well 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.
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 |
|
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South
Surrey, BC V4A 8J1 |
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www.kelsotech.com |
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