Kelso Technologies Inc.: Business Development Alliance With SafeRack
March 20 2014 - 8:00AM
Marketwired
Kelso Technologies Inc.: Business Development Alliance With
SafeRack
VANCOUVER, BRITISH COLUMBIA and DOWNERS GROVE,
ILLINOIS--(Marketwired - Mar 20, 2014) - Kelso Technologies Inc.
(TSX-VENTURE:KLS)(OTCQX:KEOSF) - The Company reports that it has
formed a strategic business and engineering alliance with SafeRack
Loading Rack Technologies ("SafeRack"). The goal is to incorporate
Kelso's one-bolt Kelso Klincher® Manway ("KKM") technology as an
integral part of a new generation of high-capacity crude oil
loading terminal systems designed and provided by SafeRack.
SafeRack is the leading expert in crude oil and liquid natural gas
loading terminal engineering, procurement and construction services
for the railroad and trucking industry.
Under the arrangement Kelso and SafeRack have successfully
developed and tested a fully functional loading arm adaptor that
fits both the KKM and older hinged 6 and 8 eye-bolt manways
currently in service on tank cars in North America. The adaptor
attaches permanently to the existing loading arm apparatus and
connects the loading arm to any existing manway in service today.
The adaptors are a minimal expense when measured against the
substantial capacity gains they will produce hence addressing the
concerns of additional capital expenditures required to convert
loading terminals that top load HAZMAT.
SafeRack and Kelso are currently educating HAZMAT shippers on
the compelling economic advantages and operational benefits for the
commercial adoption of the KKM which include:
- Opening, closing and vapor sealing using our KKM one-bolt
system takes approximately 5 minutes compared to the industry's
current recommended eye-bolt practice that takes approximately 25
to 35 minutes as documented in AAR Pamphlet 34.
- The KKM can increase daily terminal loading capacity up to 32%
increasing revenues of terminal operations that are paid by the
volume of oil loaded and shipped.
- The KKM allows more oil production to be shipped from existing
facilities improving scheduling and capital expenditure
requirements for new terminals.
- The simple operation of our KKM should mean that operational
personnel are less likely to cheat on manway sealing operations
when fatigued or working in extreme weather conditions reducing the
risk of non-accidental releases of hazmat and related regulatory
fines.
- The uniform sealing method of our KKM prolongs gasket service
life savings thousands of dollars in new gasket costs annually
along with associated downtime costs to change out the gasket.
Neil Gambow, Chief Operating Officer for Kelso comments that "We
are very pleased to join forces with SafeRack to contribute to the
development of the most efficient and productive crude oil loading
terminals available in the market today. We look forward to a
mutually rewarding relationship with SafeRack over the upcoming
years."
Mr. Robert Hoge, Corporate Accounts Manager for SafeRack states
that "SafeRack believes in Kelso's capabilities and is pleased to
be an alliance partner."
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
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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