Torino Power Solutions Enters into Middle Eastern Distribution Agreement for High Voltage Sensors
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 10, 2017) - Torino Power Solutions Inc. (CSE:TPS)(CSE:TPS.CN) (the "Company" or "Torino"), is pleased to announce that the Torino has entered into a distribution agreement with Motosumi Technologies Inc. ("Motosumi") for the countries of United Arab Emirates, Oman and Qatar.
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.
Motosumi is based in Dubai, United Arab Emirates, and specializes in the importing and distribution of products related to defense, security and solar energy. Motosumi has developed key relationships with state and federal government and Royal family officials and has intimate knowledge of opportunities for the Torino technology within the Middle East.
Mr. Osama Khan, Managing Director of Motosumi commented, "Torino's Dynamic power line monitoring systems are needed for the management of our vast network of remotely located high voltage lines as well as our urban transmission lines. Torino's patented hollow cavity sensors with no electronics are the kind of super durable sensor that would stand up to our desert climate. We feel that there is significant potential for Torino products in the Middle East and are pleased to become an early distributor."
Rav Mlait, CEO of Torino commented, "We are delighted to partner with Motosumi which has an established marketing and distribution network in the Middle East. Our patented, wireless monitoring system would be of great value to the utilities in the Middle East where temperature plays a critical role in the transmission of electrical power. Real time monitoring of temperature and other vital information would allow the utilities in this region to better manage the infra-structure while increasing the transmission capacity."
Please visit www.torinopower.com for more information.
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Torino Power Solutions Inc.
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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.
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