VANCOUVER, B.C., June 14, 2017 (GLOBE NEWSWIRE) -- Torino Power Solutions Inc. (CSE:TPS) (the “Company” or “Torino”), is pleased to announce that the Company has completed its second installation of its Power Line Monitoring (“PLM”) System at a new location for Tri-State Generation and Transmission Association, Inc., (“Tri-State”).
In 2016, Tri-State and Torino Power entered into a pilot agreement, whereby Tri-State installed Torino’s temperature monitoring sensor on a Tri-State-owned energized line in Eastern Colorado. Torino has now installed an upgraded evaluation system at a new location in Western Colorado. The new location supports larger varying electrical load and will provide Tri-State with important real-time temperature data for Dynamic Line Rating purposes. This new installation provides a better opportunity for Torino Power to showcase its technology. Tri-State can now begin the process of comparing line ratings using conventional calculations to potential additional power capacity based on the real-time Torino sensor.
Torino’s patented, wireless powerline monitoring system supports the use of Dynamic Line Rating 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. Torino sensors completely passive and do not require a power source and are easy to install on live (energized) power lines. Torino Power Solutions Inc’s business strategy is to automate the DLR process providing our clients with a reduction in operating costs. With the growing proliferation of distributed energy resources (DER) and changing power markets, the necessity to fully understand and exploit in real time the capacity of the transmission and distribution lines is becoming a necessity.
Tri-State is a not-for-profit wholesale power supplier to 43-member electric distribution cooperatives and public power districts that collectively serve more than one million consumers across 200,000 square miles of service territory in Colorado, Nebraska, New Mexico and Wyoming.
Rav Mlait, CEO of Torino commented, “We are very pleased to work with Tri-State with this new installation of our passive PLM system. We look forward building our existing relationship with Tri-State’s innovative team.”
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
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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.