VANCOUVER, British Columbia, April 03, 2018 (GLOBE NEWSWIRE) -- Torino Power Solutions Inc. (CSE:TPS) (Frankfurt:A143TE) (the “Company” or “Torino”), is pleased to report that it has filed U.S. Provisional Patent Application No. 62648227 for its updated distribution temperature sensor, which takes into account several improvements, including reduced lag time, smaller size and improved clamp for a multitude of cable line sizes.
The Company has been actively introducing it Power Line Monitoring system (“PLM”) to various utilities, and is continuing discussions with an eastern, midwestern and western U.S. based utilities for potential installations. More recently, the Company has initiated discussions with a major utility in western Canada as well as an engineering company in the U.K. seeking PLM technology for existing customers.
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.
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: (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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