Kelso Technologies Inc. Announces the Regulatory Completion of New Commercial Truck Tanker Equipment
25 Août 2021 - 3:00PM
Kelso Technologies Inc. (TSX: KLS) (NYSE MKT: KIQ) ("Kelso" or the
"Company") reports that the Company has completed the design,
engineering and required regulatory testing of two key pieces of
truck tanker equipment created for the reliable containment and
pressure management of commodities that are transported via roads.
The specialized products include a combined
pressure/vacuum relief valve (PVR) and a one-bolt manway (OBM).
These new products are based on our existing patents that are
utilized in rail tank car applications and meet all DOT 407 49 CFR
178.345 regulations. Over the past several years the Company’s
strategic development partners have been instrumental in finalizing
all design specifications for roadway applications. The Company
believes that Kelso has reached the key milestone of approval of
the PVR and OBM design with the trucking industry setting the stage
for potential full market adoption.
Key advantages of the OBM include:
- 100% made in the United States with short delivery times for
customers
- Elimination of eye bolts saves time, reduces tripping hazards
and reduces likelihood of leaks
- Reduced operational open/close time (more efficient turnaround
times)
- Uniform pressure of the lid and straps results in increased
gasket life providing cost savings
- Enhances user safety
Key advantages of the PVR include:
- 100% made in the United States with short delivery times for
customers
- Robust design utilizing fabricated parts with no castings (can
be re-certified for continued use)
- Reliability of constant force springs extends life of the
valve
- Available with 25psi and 30psi Maximum Allowable Working
Pressure (MAWP) applications
During the development process several
prototypes of the PVR and OBM were installed on a truck tanker for
design assessment and testing by the Company’s industrial
technology partner. After design completion, the OBM and PVR were
fully field-tested and successfully vetted at a third party
laboratory to ensure both products met or exceeded the established
requirements and they are now ready for full market distribution.
The Company has commenced marketing and sales initiatives to
promote wide scale adoption of the truck tanker OBM and PVR.
Management believes that these new product entries can lead to new
multi-million-dollar revenue opportunities from truck tanker
markets.
James R. Bond, CEO of the Company comments that:
"Despite frustrating time delays and scheduling interruptions
imposed by pandemic circumstances, the Company’s relationships
continued to grow with an increased number of strategic product
development stakeholders. This has allowed Kelso to maintain the
development of its brand through the creation of new technology
solutions for transportation operations in rail, road and
wilderness transportation markets. The successful completion of the
regulatory qualified truck tanker PVR and OBM are key examples of
the benefits of our commitment to research and development of
unique products targeting previously untapped revenue
opportunities. Management continues its research and development
initiatives based on specific stakeholders’ design needs and
engineering input which have proven to be very effective and
efficient strategically. Over time the objective is to expand
financial growth and performance from sales from a growing
portfolio of regulatory compliant products servicing a wider range
of transportation markets."
About Kelso Technologies
Kelso is a diverse product development company
that specializes in the design, production and distribution of
proprietary service equipment used in transportation applications.
The Company’s reputation has been earned as a designer and reliable
supplier of unique high-quality rail tank car valve 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.
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 that the Company believes that this key
milestone of approval of the PVR and OBM design with the trucking
industry sets the stage for full market adoption; that Management
believes that these new product entries can lead to new
multi-million-dollar revenue opportunities from truck tanker
markets; that the successful completion of the regulatory qualified
truck tanker PVR and OBM are key examples of the benefits of our
commitment to research and development of unique products targeting
untapped revenue opportunities; that Management will continue
research and development initiatives based on stakeholders’ design
needs and engineering input which have proven to be very effective
and efficient strategically and; that over time the Company can
expand financial growth and performance from a growing portfolio of
products servicing a wider range of transportation 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 into 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 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.
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 8J1 www.kelsotech.com |
Kelso Technologies (TSX:KLS)
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