VANCOUVER, BRITISH COLUMBIA and LISLE, ILLINOIS--(Marketwire - Nov. 29, 2012) - Kelso Technologies Inc. (the "Company" or "Kelso") (TSX VENTURE:KLS)(KEOSF) -
The Company reports that it has acquired all proprietary and manufacturing rights from the James Wilson Company of Houston, Texas for their eduction tube (ETS) product line for US$65,000.
ETS are used in the loading and unloading of highly corrosive chemicals from rail tank cars and road tank trailers. Hydrochloric acid is the largest application for the ETS and a key chemical in hydraulic fracturing and oil sands processing. Growth of production output in the petroleum, natural gas and oil sands industries has fueled increases in demand for new chemical rail tank cars in 2013 and 2014 - a market of interest for Kelso.
Our ETS will be marketed as the "Kelso Tiger Tube™" and sold to our OEM, retrofit and repair customers in conjunction with our external pressure relief valve that has been specifically designed for the rigors of acid handling and transport. Our subsidiary Kelso Innovative Solutions will manage the design elements of the ETS.
James R. Bond, CEO of the Company comments that, "We continue to build our brand in the railroad industry based on our ability to engineer and reliably supply "best technology" solutions that address the demanding technology criteria of our customers. The expansion of our product catalogue with established ETS technology is an important addition to our business growth strategy."
About Kelso Technologies
Kelso is a railroad equipment supplier that produces and sells proprietary tank car components 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.
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 expansion of our product catalogue with established ETS technology is an important addition to our business growth strategy. 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; 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.