Kelso Technologies Inc.: New Patent-Dual Rating Pressure Relief Valve
February 20 2014 - 8:00AM
Marketwired
Kelso Technologies Inc.: New Patent-Dual Rating Pressure Relief
Valve
VANCOUVER, BRITISH COLUMBIA and DOWNERS GROVE,
ILLINOIS--(Marketwired - Feb 20, 2014) - Kelso Technologies Inc.
(TSX-VENTURE:KLS)(OTCQX:KEOSF) - The Company reports that it has
filed a patent application for a new externally mounted dual rating
pressure relief valve ("DPRV") design for use on new rail tank cars
and retrofits of existing rail tank cars.
Recent derailments of trains carrying hazardous materials have
raised US and Canadian government concerns over railroad safety.
Regulatory bodies are focused on finalizing design criteria for
safety enhancements to existing railroad tank cars carrying
flammable liquids including crude oil and ethanol. These concerns
center on the quality and effectiveness of service equipment
including pressure relief valves used for containment of hazmat
during rail operations in both non-accident and accident
events.
Kelso has initiated a proactive design strategy based on these
regulatory concerns and as a result we have created a new DPRV
design that based on mechanical engineering innovations that
provide safety benefits in both accident and non-accident
environments. In general terms in an accident involving fire the
DPRV will significantly lower its operating pressure rating to a
level that will keep the valve open in order to evacuate the tank
car in less than 100 minutes as required by AAR recommendations.
This is a dramatic change to current technology capability. In
addition, Kelso believes the DPRV will provide economic advantages
to the impact of the expense of retrofits facing the railroad
industry.
The patent has been filed under a "Non-Publication Request"
which keeps the patent filing private until the patent is issued.
We have done this for competitive reasons as keeping our invention
out of the eyes of our competition until we launch the commercial
product carries various market advantages for Kelso. Our
competition will most likely become aware of our DPRV when we
submit our Application for Approval to the AAR, however they will
not have enough details on the design to allow them to try to
circumvent our ideas. The final patent will likely take 2 years or
more to be granted and carry a 17 year life starting from the date
the patent is granted.
The DPRV will enter Association of American Railroads (AAR)
approval process shortly after the prototypes are completed in May
2014. The Company will announce AAR approvals by press release when
they are received.
About Kelso Technologies
Kelso is a railroad equipment supplier that designs, produces
and sells proprietary tank car service equipment used in the safe
loading, unloading and containment of hazardous materials during
transport. Products are specifically designed to provide economic
and operational advantages while reducing the potential effects of
human error and environmental harm during the transport of
hazardous materials. The Company is experiencing rapid
multi-million dollar revenue growth based on its expanding
commercial product catalogue and increased concerns about railroad
safety in North America.
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 on www.sedar.com.
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 Canadian securities legislation. Forward-looking
statements are indicated expectations or intentions.
Forward-looking statements in this news release include that the
new DPRV is a dramatic change to current technology capability and
is expected to provide economic advantages to the impact of the
expense of retrofits facing the railroad industry; and the Company
is experiencing rapid multi-million dollar revenue growth based on
its expanding commercial product catalogue. 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 the Company's products may not provide the
intended economic or operational advantages; or reduce the
potential effects of human error and environmental harm during the
transport of hazardous materials; or grow and sustain anticipated
revenue streams. 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.
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Kelso Technologies Inc.James R. BondCEO and
President250-764-3618bond@kelsotech.comKelso Technologies
Inc.Richard LeeChief Financial
Officer604-590-1525lee@kelsotech.comwww.kelsotech.com
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