Torino Power Solutions Enters Into Testing Agreement With Tri-State G&T, Denver, Colorado
2016-06-14 09:08 ET - News Release
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/14/16
Torino Power Solutions Inc. (CSE:TPS) (the "Company" or "Torino") is pleased to announce that Torino has entered into a letter agreement with Tri-State Generation and Transmission Association, Inc. ("Tri-State"), for testing its Dynamic Thermal Circuit Rating (DTCR) technology. Under the agreement, Tri-State will install Torino's temperature monitoring sensor on a Tri-State-owned energized line in Colorado for a period of one year.
Torino's patented, wireless monitoring system supports the use of Dynamic Thermal Circuit Rating (DTCR) technology on congested and remotely-located high-voltage power lines operated by electric utilities. The Torino system provides real-time temperature data and other vital information to utilities that helps them save money on maintenance and maximize the capacity of their transmission systems. Through the use of DTCR technology, transmission capacity can be increased by up to 30% with corresponding increases in revenue to the utility. Torino sensors are extremely durable, do not require a power source and are easy to install on live (energized) power lines.
Tri-State is a not-for-profit wholesale power supplier to 44 member electric distribution cooperatives and public power districts that collectively serve 1.5 million consumers across 200,000 square miles of service territory in Colorado, Nebraska, New Mexico and Wyoming.
Suresh Singh, President of Torino commented, "Working with Tri-State is a wonderful opportunity for Torino Power Solutions to optimize our power line monitoring system as we begin to commercialize our technology."
Rav Mlait, CEO of Torino commented, "The first installation of our high voltage dynamic rating system technology in Colorado is a tremendous milestone for Torino Power Solutions, many years of technological development and innovation have led to this. Torino is very pleased to be working with Tri-State Generation and Transmission."
Please visit www.torinopower.com for more information.
We seek Safe Harbor.
On behalf of the Board of Directors
Rav Mlait, CEO and Director, Torino Power Solutions Inc.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as final development of a commercial product(s), successful trial or pilot of company technologies, no assurance that commercial sales of any kind actually materialize; no assurance the Company will have sufficient funds to complete product development. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks regarding protection of proprietary technology; (iii) the ability of the Company to complete financings; (v) the ability of the Company to develop and market its future product; and (vi) risks regarding government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that the DTCR business will provide any benefit to the Company, and no assurance that any proposed new products will be built or proceed. There is no assurance that existing "patent pending" technologies licensed by the Company will receive patent status by regulatory authorities. The Company is not currently selling commercial DTCR systems. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Torino Power Solutions Inc.
(604) 676-2767 (FAX)
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