VANCOUVER, British Columbia and BONHAM, Texas August 25, 2021 (GLOBE NEWSWIRE) – Kelso Technologies Inc. (TSX: KLS) (NYSE MKT: KIQ) (“Kelso” or the “Company”) announces that it has Completed the design, construction and required regulatory testing of two key tank truck equipment designed to reliably contain and pressure manage goods in transit.
Special products include a combined pressure / vacuum valve (PVR) and a one-screw manway (OBM). These new products are based on our existing patents used in tank car applications that all meet DOT 407 49 CFR 178,345 regulations. In recent years, the company’s strategic development partners have been instrumental in completing all of the design specifications for road applications. The company believes that Kelso has reached the key milestone of approving the PVR and OBM design, with the trucking industry paving the way for a potential full market launch.
The main advantages of the OBM include:
- 100% Made in USA with short delivery times for customers
- The elimination of eye bolts saves time, reduces tripping hazards and reduces the likelihood of leaks
- Reduced operational opening / closing times (more efficient throughput times)
- Even pressure from the lid and straps leads to a longer service life of the seal and thus to cost savings
- Increases user safety
The main advantages of the PVR include:
- 100% Made in USA with short delivery times for customers
- Robust design using prefabricated parts without castings (can be recertified for further use)
- The reliability of the constant force springs extends the life of the valve
- Available in 25 psi and 30 psi Maximum Working Pressure (MAWP) applications
During the development process, several prototypes of the PVR and OBM were installed on a tanker truck for design evaluation and review by the company’s industrial technology partner. Upon completion of the design, the OBM and PVR were fully field tested and successfully verified in a third party laboratory to ensure that both products met or exceeded the specified requirements and are now ready for full market distribution. The company has launched marketing and sales initiatives to promote widespread acceptance of the OBM and PVR tankers. Management believes these new product launches could result in multi-million dollar new revenue opportunities in the tanker truck markets.
James R. Bond, CEO of the company, comments: “Despite frustrating time delays and deadlines due to pandemic circumstances, the company’s relationships with a larger number of strategic product development prospects continued to grow. This has enabled Kelso to develop its brand by creating new technology solutions for transportation operations in the rail, road and wilderness transportation markets. The successful completion of the government-qualified truck tankers PVR and OBM are important examples of the benefits of our commitment previously unused sales opportunities in the research and development of unique products. Management continues its research and development initiatives based on the design requirements and technical input from the specific stakeholders, which have proven to be very effective and efficient strategically. Over time, the goal is to drive financial growth and performance from sales of a growing portfolio of compliant products that serve a wider range of transportation markets. “
About Kelso Technologies
Kelso is a diverse product development company specializing in the design, manufacture and sale of proprietary service equipment for transportation applications. The company has built a reputation as a designer and reliable supplier of unique high quality valve equipment for rail tank cars that ensure the safe handling and containment of dangerous and non-dangerous goods in transit. All Kelso products are specifically designed to provide customers with economic and operational benefits while reducing the potential impact of human error and environmental damage.
A more complete business and financial profile of the company can be found on the company’s website at www.kelsotech.com and in public documents available under the company profile at www.sedar.com in Canada and on EDGAR at www.sec.gov in the United States published are United States.
On behalf of the board,
James R. Bond, CEO and President
Legal notice regarding forward-looking statements and information: This press release contains “forward-looking statements and information” within the meaning of applicable securities laws. Forward-looking statements are implied expectations or intentions. Forward-looking statements in this press release include that the company believes that this important milestone in the approval of the PVR and OBM design in the trucking industry is a prerequisite for a full market introduction; that management believes these new product launches could result in multi-million dollar new revenue opportunities in the tanker truck markets; that the successful completion of the government-qualified PVR and OBM tankers are key examples of the benefits of our commitment to research and development of unique products that target untapped revenue opportunities; that management will pursue research and development initiatives based on the design needs and technical input of stakeholders, which have proven to be very effective and efficient strategically; that over time the company can increase financial growth and performance from a growing portfolio of products serving a wider range of transportation markets. Although Kelso believes that the expected future results, performance or achievements expressed or implied in the forward-looking statements are based on reasonable assumptions and expectations, Kelso cannot guarantee that these expectations will prove to be correct. Readers should not place undue reliance on forward-looking statements because such statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements of Kelso to differ materially from those anticipated in the future, performance or achievements Be expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation, the risk that the Company’s products will not perform as expected; we may not be able to enter new markets because those markets are served by strong and embedded competitors or because of long-term supply agreements; and we may not be able to grow and maintain expected revenue streams. We may have underestimated the cost of product development and the time it takes to get products to market; we may not be able to fund 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 be able to protect our intellectual property investments if our patents are challenged. Our proposed technologies could infringe the intellectual property rights of other parties. We may not have parties interested in licensing our technology as expected. Except as required by law, the company does not intend to update the forward-looking information or forward-looking statements contained in this press release.
For more information please contact:
|James R. Bond, CEO and President||Richard Lee, Chief Financial Officer||Company address:|
|Email: email@example.com||Email: firstname.lastname@example.org||13966 – 18B Avenue
South Surrey, BC V4A 8J1