Kelso Technologies Inc.: Association of American Railroads Approves Vacuum Relief Valve
February 14 2019 - 3:11PM
Kelso Technologies Inc. (“Kelso” or the “Company”) (TSX: KLS; NYSE
American: KIQ) reports that the Company’s new vacuum relief valve
(“VRV”) has successfully completed the required two-year field
service trial and the Association of American Railroads (“AAR”) has
approved the VRV for full commercial use. During the past two years
of service trial customers have shown strong support and expressed
bona fide interest in adopting the Company’s VRV along with their
current demand for Kelso’s pressure relief valves. Shipping of the
VRV to customers can commence within two weeks of a customer’s
order.
The primary function of the VRV is to prevent a
tank car from rupturing during loading operations or imploding
while pumping its commodity load out of the tank. Without a
controlled opening for breathing a tank can also rupture or implode
due to severe thermal changes.
Common problems with similar VRV’s in the market
today include the VRV’s short service life and the other VRV’s are
typically viewed by customers as a “throwaway” item. Similar VRV’s
suffer from problems associated with casting production techniques
and the VRV’s helical springs get exposed to vapors when venting.
Due to suspect quality many other VRV’s seldom get re-certified for
continued use and users are faced with the unreliable structural
integrity associated with using castings.
Kelso’s design and engineering goals are that
all service equipment must be developed with emphasis on economical
and operational advantages to the Company’s customers, while
mitigating the impact of human error and environmental release
during operations. Kelso’s VRV offers the dependability of the
Company’s patented constant force spring technology. The Company’s
VRV is fabricated and does not use casting methods allowing for
re-certification for continued use. As well, Kelso’s VRV is an all
stainless-steel product with a seal welded stem, closed spring
housing and oversized seal, the design provides a baffle to protect
from unwanted debris from operational environments.
James R. Bond CEO of the Company comments “A
dedicated team of employees and customers have brought the VRV to
the milestone of full AAR approval. Kelso’s VRV combined with the
Company’s PRV provides a high-performance pressure management
system for tank cars that can provide much needed reliability and
operational advantages to Kelso’s customers. The VRV is expected to
add an additional US$1,000 revenue per tank car. Kelso expects that
it can look forward to additional revenue streams from VRV sales
and improved financial performance as a result in future
periods.”
About Kelso Technologies
Kelso is an engineering development company that
specializes in the development, production and distribution of
proprietary service equipment used in transportation applications.
Our reputation has been earned as a developer and reliable supplier
of unique high-performance rail tank car equipment for the handling
and containment of hazardous and non-hazardous commodities during
transport. All Kelso products are developed with emphasis on
economic and operational advantages to customers while mitigating
the impact of human error and environmental release. The Company
develops and offers specialized rail tank car equipment, truck
tanker equipment, rail wheel cleaning systems, fuel loading
systems, military applications, first responder emergency response
kits and suspension systems for motor vehicles being used in rugged
outback terrains.
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: This news release contains “forward-looking
statements” within the meaning of applicable securities
legislation. Forward-looking statements are indicated expectations
or intentions. Forward-looking statements in this news release
include that our VRV combined with our PRV provides a
high-performance pressure management system for tank cars that can
provide much needed reliability and operational advantages to our
customers; the VRV is expected to add an additional US$1,000
revenue per tank car; and that Kelso expects that it can look
forward to additional revenue streams from VRV sales with improved
financial performance as a result in future periods. 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 regulatory deadlines for
compliance may be delayed or cancelled; 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; AAR approvals may not be finalized,
orders may be cancelled and competitors may enter the market with
new product offerings which could capture some of our market share;
and our new equipment offerings may not capture market share as
well 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 |
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