VANCOUVER, British Columbia, July 25, 2017 (GLOBE NEWSWIRE) -- Torino Power Solutions Inc. (CSE:TPS) (Frankfurt:A143TE) (the “Company” or “Torino”), is pleased to report that it has entered into a business development partnership with Thirty Advisory. Thirty Advisory is a strategic advisory consulting firm working with some of the largest utilities in North America. Under the agreement, Torino and Thirty Advisory will provide collaborative, turnkey services focusing on the strategy development, installation and implementation of transmission and distribution system solutions, designed to address the challenges of integrating distributed energy resources (like wind and solar energy) into an aging electrical grid. Effective closed loop control of pervasively deployed IIoT sensors, providing real time condition monitoring of the electrical grid is mandatory for the electric utility sector, which is in a significant state of transition to a 21st century transmission and delivery system that is flexible, reliable, resilient, efficient and sustainable.
Torino’s real-time Power Line Monitoring system for electrical power transmission and distribution (T&D) grids is seen as a critical component for the digital transformation of the electrical grid. T&D infrastructure is in urgent need of expansion and upgrading due to increasing population, growing loads (due to renewable energy sources like wind and solar) and aging equipment. Utilities globally are investing in new technology to improve grid performance and reduce cost for their customers. Torino’s patented microwave cavity sensor technology delivers real time measurements that allow for closed loop Dynamic Line Rating leading to increased transmission capacity, improved grid resiliency, lower energy costs and bottleneck elimination. Torino PLM creates real-time situational awareness that will help prolong the life of powerline assets and help with the management of future distribution networks that are expected to host high concentrations of distributed energy resources which include distributed generation, renewable energy sources, local storage systems and flexible loads.
About Thirty Advisory
Thirty Advisory is a strategic advisory consulting firm providing IIoT projects in the Energy and Utilities, Automotive, Industrial, Communications, Healthcare, Financial, Consumer, Media and Entertainment sectors enabling clients with a competitive edge, allowing them to engage more effectively in the connected marketplace that is the Age of Everything. Please visit www.thirtyadvisory.com for more information.
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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: (1) adverse market conditions; (2) risks regarding protection of proprietary technology; (3) the ability of the Company to complete financings; (4) the ability of the Company to develop and market its future product; and (5) 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.
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