Kelso Technologies Inc. Announces the Final AAR Certification of New PCH Valve
02 Novembro 2021 - 10:00AM
Kelso Technologies Inc. (TSX: KLS) (NYSE MKT: KIQ) ("Kelso" or the
"Company") reports that Kelso has received final certification of
the Company’s pressure relief valve (“PCH”) for use on rail
pressure cars from the Association of American Railroads (“AAR”).
The PCH has gone through rigorous field service trials over the
past several years which concluded with a successful teardown and
testing of a sample of field service trialed PCH valves by the AAR
inspector.
Pressure tank cars designated by Department of
Transport (DOT)-105 and DOT-112 specifications are used to
transport flammable, non-flammable or toxic liquefied compressed
gases that must be shipped under pressure. The PCH is a key
milestone for Kelso because it allows the Company to pursue sizable
untapped revenue opportunities in the rail pressure car market.
There are more than 438,000 rail tank cars in the North American
fleet and approximately 85,000 of those are pressure cars. The PCH
is now fully qualified to be distributed to the pressure car market
as ordered by rail car customers.
The development of the PCH was driven by
customers’ concerns, input and demand for a better performing PCH
product due to the unreliable performance and expensive repair
costs of current products used in the market today.
Key advantages of the Kelso PCH include:
- Patented design features our proprietary constant force spring
technology
- Low profile design that is mounted externally which prevents
contact with the commodity
- 100% made in the United States with short delivery times for
customers
- No porosity as the PCH utilizes fabricated parts with no
suspect casted components
- Proven reliability of constant force springs extends life of
the valve
- Covered by Kelso’s unique warranty
The Company has commenced marketing and sales
initiatives to promote wide scale adoption of the PCH. Management
believes that the PCH can lead to new multi-million-dollar revenue
opportunities from the rail pressure car market.
James R. Bond, CEO of the Company comments that:
"Our engineering relationships with motivated customers continue to
grow. 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 markets. The
successful completion of the AAR certified PCH is another key
example of the benefits of our commitment to the development of
unique products targeting previously unavailable revenue
opportunities. The PCH is the centerpiece of Kelso’s new Pressure
Car Kit program which will include a new 2” angle valve (currently
in field service trial), an excess flow check valve, a thermometer
well, a needle sampling valve and a magnetic gauge device. The
availability of the Pressure Car Kit will simplify procurement
processes for pressure car customers with Kelso available as a
single supplier. Management’s dedication to its strategic
initiatives based on specific stakeholders’ design needs and
engineering have proven to be very effective and efficient. Over
time the overall objective is to focus on financial growth and
performance from sales of a larger 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 AAR certification of the PCH sets the stage for full
market adoption; that Management believes that the PCH can lead to
new multi-million-dollar revenue opportunities from the rail
pressure car market; that the successful completion of the
certified PCH is another example of the benefits of our commitment
to research and development of unique products targeting untapped
revenue opportunities; that the availability of the Pressure Car
Kit featuring the PCH will simplify procurement processes for
pressure car customers with Kelso available as a single supplier;
that Management’s research and development initiatives based on
stakeholders’ design needs and engineering input will continue to
prove effective and efficient strategically and; that over time the
Company can expand financial growth and performance from a larger
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 a new product idea may be dropped if
ongoing development and testing reveal engineering and economic
issues that render a new product concept infeasible; 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 stronger 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 or 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 AvenueSouth Surrey, BC V4A 8J1www.kelsotech.com |
Kelso Technologies (TSX:KLS)
Gráfico Histórico do Ativo
De Fev 2024 até Mar 2024
Kelso Technologies (TSX:KLS)
Gráfico Histórico do Ativo
De Mar 2023 até Mar 2024