VANCOUVER, British Columbia, May 28, 2018 (GLOBE NEWSWIRE) -- Torino Power Solutions Inc. (CSE:TPS) (Frankfurt: A143TE ) (the “Company” or “Torino”), is pleased to report that it will deliver its technology to one of the largest utility companies in the northern eastern United States. The utility based in New England controls several regulated subsidiaries offering retail electricity and natural gas service to more than 3 million customers. The Torino Power Line Monitoring (PLM) sensor system will be installed at a specified location on an overhead powerline in the northern eastern US. The PLM will be installed on a pilot basis with terms for purchase after an evaluation period is completed successfully. The Company will provide further installation details and timing in the coming weeks.
Torino's patented microwave cavity sensor technology delivers real-time temperature measurements of overhead powerlines that allow for increased transmission capacity, improved grid resiliency, lower energy costs and bottleneck elimination. Torino sensors can be deployed quickly and begin transmitting real-time data to the utility almost immediately. Torino is focused on servicing utilities that are seeking new innovative sensor technology to improve grid performance and reduce cost for their customers.
Rav Mlait, CEO of Torino commented, “The Torino PLM system is unique because of our completely passive sensors (no electronics or batteries) that provide utilities with the most durable, easy to install and low-maintenance sensor system for dynamic line rating purposes in the market. Torino’s real time Power Line Monitoring systems are a marked leap forward for utilities in terms of data acquisition for IIOT ('Industrial Internet of Things') practices. We believe that our technology’s unique characteristics and price point will make it an attractive solution for utilities worldwide. We are truly excited to be begin this new installation of our technology with a major utility in the U.S.”
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.
For further information, contact at info@torinopower.com
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; (iv) the ability of the Company to develop and market its future product; and (v) 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/PLM 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/PLM 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.
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