VANCOUVER, British Columbia, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Torino Power Solutions Inc. (CSE:TPS) (Frankfurt:A143TE) (the “Company” or “Torino”), is pleased to announce that the Company has been granted a European patent pursuant to Article 91(1) to the European Patent Convention (EPC). In a noticed issued on September 19, 2017, Patent EP 1520159 - Measuring strain in a structure with a microwave cavity, was granted by the EPC.

The Company also reports that its new distribution temperature sensor is complete and Torino has shipped its first distribution sensor to France for initial evaluation. The new sensor provides real-time temperature of  overhead powerlines that allows for closed loop Dynamic Line Rating leading to increased transmission capacity, improved grid resiliency, lower energy costs and bottleneck elimination. The Company has been working with a France based industrial group (specializing in products and services relating to the transport and distribution of electrical energy) for the evaluation of Torino products for the European market and beyond. The new sensor weighs only a few ounces and among other things, includes a newly designed clamp. Utilities worldwide face temperature related problems with local distribution lines.  Torino Power Solutions is committed to improving the real-time condition monitoring of the distribution network. This is becoming critical given the increase in integration of distributed energy resources (wind and solar).  Torino sensors are designed to help utilities eliminate bottleneck constraints in the flow of power.

The Company continues to actively introduce its Power Line Monitoring system (“PLM”) to various utilities, and has presented proposals, responded to RFPs and is continuing discussions with an eastern, midwestern and western U.S. based utilities for potential installations.  The Company also reports that product development discussions with two North American transit commissions to assess opportunities for an underground temperature sensor are still active.

Rav Mlait, CEO, commented, “Torino Power is focused on developing innovative real time electrical grid sensing products designed to help our clients support their integration of distributed energy sources and smart grid strategies.”

About TPS

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 electrician 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.

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On behalf of the Board of Directors

“Rav Mlait”

CEO and Director

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: (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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