Kelso Technologies Inc.: Advantages of Manway Confirmed in Bakken Oil Fields
20 November 2013 - 12:00AM
Marketwired Canada
Kelso Technologies Inc. (TSX VENTURE:KLS)(OTCQX:KEOSF) (the "Company" or "Kelso") -
The Company reports that it has reviewed the performance characteristics of its
Kelso Klincher(R) Manway ("KKM") with loading terminal operators and management
at the Bakken Oil Fields in North Dakota. The review has confirmed that there
are several compelling economic advantages and arguments for the commercial
adoption of the KKM which include:
-- Opening, closing and vapor sealing using our KKM one-bolt system takes
approximately 5 minutes compared to the industry's current recommended
eye-bolt practice that takes approximately 25 to 35 minutes as
documented in AAR Pamphlet 34.
-- The KKM can increase daily terminal loading capacity up to 32%
increasing revenues of terminal operations that are paid by the volume
of oil loaded and shipped.
-- The KKM allows more oil production to be shipped from existing
facilities improving scheduling and capital expenditure requirements for
new terminals.
-- The simple operation of our KKM should mean that operational personnel
are less likely to cheat on manway securement operations when fatigued
or working in extreme weather conditions reducing the risk of non-
accidental releases of hazmat and related regulatory fines.
-- The uniform sealing method of our KKM prolongs gasket service life
savings thousands of dollars in new gasket costs annually along with
associated downtime costs to change out the gasket.
Kelso has addressed the concerns of capital expenditures required to convert
loading terminals that top load through loading arm systems to utilize the KKM
through Kelso's design of a universal loading arm adaptor that can service both
KKM and current eye bolt designs. The adaptors utilize current design criteria
and fit existing terminal technology seamlessly. The adaptors are a minimal
expense when measured against the substantial capacity gains they will produce.
The adapters are available through Kelso or our supply partners for terminal
facilities.
The Company is currently bringing the KKM into production in Bonham, Texas.
Management believes that the KKM will be a key product for the Company
delivering a multi-million dollar revenue stream for many years to come. Orders
are being negotiated and deliveries are currently scheduled to begin in March
2014. The KKM is expected to follow the same adoption path as our EPRV.
Distribution should begin slowly, gain momentum and progress toward full
production in 2015.
About Kelso Technologies
Kelso is a railroad equipment supplier that produces and sells proprietary tank
car service equipment used in the safe loading, unloading and containment of
hazardous materials during transport. Products are specifically designed to
provide economic and operational advantages while reducing the potential effects
of human error and environmental harm during the transport of hazardous
materials.
For a more complete business and financial profile of the Company, the
financials statements and management discussion and analysis can be viewed in
their entirety on the Company's website at www.kelsotech.com or www.sedar.com.
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 Canadian
securities legislation. Forward-looking statements are indicated expectations or
intentions. Forward-looking statements in this news release include that the KKM
will be a key product for the Company delivering a multi million dollar revenue
stream for many years to come; orders are being negotiated and deliveries are
currently scheduled to begin in March 2014; and the KKM is expected to follow
the same adoption path as our EPRV with distribution beginning slowly, gaining
momentum and progressing toward full production in 2015. The Company's products
involve detailed proprietary and engineering knowledge and specific customer
adoption criteria, hence factors that could cause actual results to be
materially different include that we may be unsuccessful in raising any
additional capital needs that may arise; we may not have sufficient capital to
develop, produce and deliver new orders; product development may face unexpected
delays; orders that are placed may be cancelled; delivery of orders may be
rescheduled; product may not perform as well as expected; markets may not
develop as quickly as anticipated or at all; and operations may run into permit,
labor or other problems. Further, we are reliant on certain key employees who
may leave the Company and we may be unable to protect or defend our intellectual
property. Investors are cautioned against placing undue reliance on
forward-looking statements. We assume no responsibility to update these forward
looking statements except to the extent required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kelso Technologies Inc.
James R. Bond
CEO and President
250-764-3618
bond@kelsotech.com
Kelso Technologies Inc.
Richard Lee
Chief Financial Officer
604-590-1525
lee@kelsotech.com
www.kelsotech.com
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