Kelso Technologies Inc. Announces Two Key Development Partners for KIQ X Industries
November 17 2021 - 9:00AM
Kelso Technologies Inc. (TSX: KLS) (NYSE MKT: KIQ) ("Kelso" or the
"Company") reports that the Company’s wholly owned subsidiary KIQ X
Industries (“KIQX”) has secured two key prototype development
partners in its KXI™ Wildertec™ Heavy Duty (“HD”) Suspension
(“KXI”) project.
Vector Truck Designs (“Vector”) and Kinetic
Drive Solutions (“KDS”) have been contracted by KIQX to provide a
team of automotive engineers, control system designers and software
specialists that can guide KIQX to a regulatory compliant final
production-ready HD prototype. Design ambitions are to meet the
needs of the Company’s target markets with technological
performance that can deliver new standards for safety and
efficiency while providing environmental and cultural
responsibility for vocational wilderness transportation
applications.
Vector will lead the project in final stage
prototype design and development of all mechanical components. With
deep roots in OEM design, Vector has been building heavy duty
vehicle suspensions for the world’s top companies for decades.
Vector is fully qualified to build KXI to meet the rigorous
standards for regulatory compliance, performance and
dependability.
Vector’s Chief Engineer, Marlin Toews comments:
“Our team of uniquely skilled designers with a combined 80+ years
of experience in chassis, suspension, steering and driveline
expertise is capable, ready and eager to deliver on KIQX’s goal of
developing a highly robust, no-road vehicle that delivers full road
and highway compliance.”
KDS joins KIQX as a specialist engineering
partner who can lead to the development and completion of an
integrated suspension control system for the HD prototype. The KDS
design team brings a wealth of experience in control system
development integrating ride height, stability, central tire
inflation systems, rear steering functions featuring intelligent
computerized vehicle control systems. KDS is a respected and
accredited service and product provider of mission critical
mobility systems to elite organizations across the globe.
Ron Shaeper, Chief Engineer at KDS comments:
“Our multi-disciplinary team of driveline and control system
designers shall combine the latest technologies and apply our
robust model-based system engineering approach to optimize the
functional design, control system and performance of the KXI
“road-to-no-road” vehicle solution.”
Chris Stewart, President of KIQX comments:
“Based on currently non-serviced market needs for emergency
responders, natural resources and energy organizations for more
capable and lower ecological impact wilderness travel technologies,
the KXI development team brings the fundamental knowledge to
convert a standard one ton pickup truck into a sophisticated
purpose-built commercial specialty vehicle. Vector and KDS bring
their proven track records and unique sets of specialized expertise
that can ensure the diminishment of dangerous, inefficient and
environmentally insensitive driving practices in the
wilderness.”
The prototype vehicle, when completed will go
through extensive engineering integrity and Canadian Motor Vehicle
Safety Standards compliance testing. This is to ensure that
equipment operators are able to utilize the full efficiency of the
KXI technology without compromising the safety of the occupants or
the general public. COVID-19 has created many supply chain issues
in the automotive industries but the completion of the prototype is
expected in the second quarter of 2022.
James R. Bond, CEO of the Company comments:
"Relationships and support from the automotive specialist
engineering community continue to grow favorably. This has allowed
Kelso to maintain the development of its KXI™ Wildertec™ brand
through the pursuit of best available technology solutions for
wilderness transportation applications. We are encouraged to date
by the number of qualified contractors that are providing expertise
to support our design ambitions. Kelso is pleased that Vector and
KDS are the first of several industry specialists that are
officially joining the KXI project.”
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 Vector and KDS can guide KIQX to
a regulatory compliant final production-ready HD prototype; that
our design ambitions can meet the needs of our target markets with
technological performance that can deliver new standards for safety
and efficiency while providing environmental and cultural
responsibility for vocational wilderness transportation
applications; that KXI can meet the rigorous standards for
regulatory compliance, performance and dependability; that KXI can
be safe, effective and efficient for virtually any skill level in
wilderness operations; that KXI can ensure the diminishment of
dangerous, inefficient and environmentally insensitive driving
practices; that the completion of the prototype is expected in the
second quarter of 2022; that Vector and KDS are the first of
several industry specialist that are officially joining the KXI
project; and that Kelso can maintain the development of its KXI™
Wildertec™ brand through the pursuit of new bona fide technology
solutions for wilderness 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 unfeasible; the risk that the Company's products may not
work as well as expected; more industry specialist may not join the
KXI project as the Company may not pursue its development; 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 |
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