Illinois-based railroad components and technology company Kelso Technologies (TSX VENTURE: KLS) on Thursday announced that it has filed a patent for a new pressure release valve for rail tank cars that can be installed fresh or retrofitted onto old cars.
The announcement comes after a sharp increase in train derailments and explosions in North America. Trains carrying ethanol, petroleum, and other highly volatile liquids have been traveling faster and more frequently due to increased output from American fields. There have been five major train explosions in the last four months alone.
Kelso’s patent is for an externally mounted dual rating pressure relief valve (DPRV) that will “significantly lower” operating pressure levels in distressed cars that will allow tanks to be evacuated in less than 100 minutes.
The patent has been filed under “non-publication” status. This means the details won’t be made public until the patent is granted. It will take approximately two years for the patent to be finalized.
An Electric Car Bankruptcy
One electric car company, Fisker Automotive, recently went bankrupt and was purchased by China’s Wanxiang Group. If you’re a rare car collector, a Fisker might be an interesting choice to add to your collection. But if you’re a regular Joe like the rest of us, you’d be better off putting your money into viable electric car companies…