Torino Power Solutions Enhances PLM Sensor System, Explores Opportunities in Iraq

VANCOUVER, British Columbia, Sept. 28, 2018 (GLOBE NEWSWIRE) -- Torino Power Solutions Inc. (CSE: TPS) (Frankfurt: A143TE) (the “Company” or “Torino”), as part of its continuous technology development efforts, is pleased to announce that its engineers over the past month have further enhanced design features for manufacturing its Power Line Monitoring sensor system (“PLM”), reducing costs of production and improving reliability at the same time. 

Highlights:

• Engineers have developed a new thermal contact insulator that can be made of silicon cast, replacing the PTFE machined part used before.  This will reduce the cost of production of this component by a factor of almost 20 times. The previous insulator was one of the more expensive components of the sensor;
• Software engineers have made significant changes to the PLM system database architecture and interoperability to improve integration with Internet of Things (“IOT”) platforms. Real-time power line temperature data produced by Torino sensors, used for dynamic line ratings, will be easier to access via the web, reducing the need for middle-ware. Torino’s web-based data console, for utility asset managers, now updates 10 times faster. Furthermore, changes to the database architecture will allow for enhanced control of interrogators in the field;
• The Company has reduced cost of production to the sensor clamping mechanism by a factor of 10 times by moving to a die cast process.

The Company also updates that it has been working with a U.K. based engineering firm that has existing business and projects in the Iraqi market. Torino was approached regarding its PLM temperature sensors and in the last few months, the UK engineering firm has introduced the PLM to three transmission operators in various regions of Iraq. 

Furthermore, the Company has been advised that its upcoming installation in Connecticut is expected to take place in October following the installation of a new power pole at the target site.

Rav Mlait, CEO stated, “We’re excited with these significant strides in improving Torino’s IOT sensor technology for utilities.  This includes reducing the cost of production of key components.”

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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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.