November 2, 2021 09:00 ET | Source: Kelso Technologies Inc. Kelso Technologies Inc.
November 2, 2021, Vancouver, British Columbia and Bonham, Texas (GLOBE NEWSWIRE) - Kelso Technologies Inc. (TSX: KLS) (NYSE: KIQ) ( "Kelso" or "Company") reported that Kelso has received the American Association of Railroads ("AAR") final certification of the company's pressure relief valve ("PCH") for use on rail pressure cars. PCH has undergone rigorous field service tests in the past few years, and finally AAR inspectors successfully disassembled and tested the PCH valve samples of the field service test.
The pressure tank trucks specified by the Department of Transportation (DOT)-105 and DOT-112 specifications are used to transport flammable, non-flammable or toxic liquefied compressed gas that must be transported under pressure. PCH is an important milestone for Kelso because it enables the company to seek a large number of untapped revenue opportunities in the rail pressure car market. The North American fleet has more than 438,000 railway tank cars, of which approximately 85,000 are pressure cars. PCH is now fully qualified to distribute to the pressure car market according to the orders of rail car customers.
Due to the unreliable performance of the current products used in the market today and the high maintenance costs, customers' attention, investment and demand for better PCH products have promoted the development of PCH.
The main advantages of Kelso PCH include:
The company has begun marketing and sales plans to promote the widespread adoption of PCH. Management believes that PCH can bring new multi-million dollar revenue opportunities from the railway pressure car market.
The company’s CEO James R. Bond commented: “Our engineering relationship with aggressive customers continues to grow. This allows Kelso to maintain its brand’s growth market by creating new technology solutions for rail, road, and wilderness transportation operations. The successful completion of the AAR certification of PCH is another important example of our commitment to developing unique products for previously unobtainable revenue opportunities. PCH is the core of Kelso’s new pressure car kit program, which will include a new 2" angle valve (Currently in field service test), an overflow check valve, a thermometer well, a needle sampling valve and a magnetometer device. The availability of pressure car kits will simplify the purchasing process for pressure car customers, and Kelso can act as a single supplier. The management is committed to the design needs of specific stakeholders and e-engineering has proven to be very effective and efficient. Over time, the overall goal is to serve the wider transportation market by selling a larger portfolio of compliant products, thus focusing on financial growth and performance. "
Kelso is a diversified product development company specializing in the design, production and distribution of proprietary service equipment used in transportation applications. The company has won a reputation as a designer and reliable supplier of unique high-quality railway tanker valve equipment, which can safely handle and control hazardous and non-hazardous goods during transportation. All Kelso products are specifically designed to provide customers with economic and operational advantages while reducing the potential impact of human error and environmental hazards.
For a more complete business and financial overview of the company, please check the company's website www.kelsotech.com and the public documents under the company profile published on Canada's www.sedar.com and EDGAR's website www.sec.gov.
On behalf of the board of directors,
James R. Bond, CEO and President
Legal statement 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 indicate expectations or intentions. The forward-looking statements in this press release include the company's belief that this key milestone of PCH's AAR certification has laid the foundation for full adoption of the market; management believes that PCH can bring new multi-million dollar revenue opportunities from the railway pressure car market; The successful completion of the certified PCH is another example of our commitment to developing unique products for untapped revenue opportunities; the availability of pressure car kits with PCH will simplify the procurement process for pressure car customers, and Kelso provides it as a single supplier; management R&D plans based on the design needs of stakeholders and engineering investment will continue to prove strategically effective and efficient; over time, the company can expand financial growth through a larger product portfolio that serves the broader transportation market And performance. Although Kelso believes that the expected future results, performance or achievements expressed or implied by forward-looking statements are based on reasonable assumptions and expectations, they cannot guarantee that such expectations will prove to be correct. Readers should not rely excessively on forward-looking statements, because such statements involve known and unknown risks, uncertainties and other factors that may cause Kelso’s actual results, performance or achievements to be materially different from expected future results, performance or achievements , Or as implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk that new product ideas may be abandoned if ongoing development and testing reveal engineering and economic issues that make new product concepts infeasible; the company's products may not meet expectations The risk of effectiveness; we may not be able to penetrate into new markets because these markets are served by more powerful embedded competitors or because of long-term supply contracts; we may not be able to grow and maintain the expected source of revenue. We may underestimate the cost of product development and the time it takes to bring the product to the market; we may not be able to fund our anticipated product development, our products may not sell as expected, and competitors may provide us with Of products provide better or cheaper alternatives. Our technology may not be patented, if patented, if our patent is challenged, we may not be able to protect our intellectual property investment. The technology we anticipate may infringe the intellectual property rights of other parties, or we may not have any party 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 press release.
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