Kelso Technologies Inc. KIQ X Industries To Establish Phase-One Production Facility In West Kelowna, BC, Canada
Portfolio Pulse from Benzinga Newsdesk
Kelso Technologies Inc. is establishing a Phase-One production facility in West Kelowna, BC, Canada, through its subsidiary KIQ X Industries. The facility will convert heavy-duty vehicles using the Company's proprietary Automated Traction Optimization Method for Vehicle Suspension Systems, targeting customers operating in extreme terrain environments. The Method is a specialized ADAS software system for commercial wilderness applications and is now compliant for sales. The Phase-One facility, which does not require new capital, is expected to generate approximately $25 million of annual revenue starting in late 2024 and can scale up to $100 million per year. Kelso Technologies focuses on safety technology solutions for various wilderness-related industries.
January 18, 2024 | 2:03 pm
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Kelso Technologies Inc. is expanding with a new production facility for its proprietary vehicle suspension system, with potential revenue of $25M annually by late 2024.
The establishment of a new production facility and the expected revenue generation are positive indicators for Kelso Technologies Inc. The news reflects the company's growth in the ADAS market and its potential to scale operations, which is likely to be viewed favorably by investors. The lack of need for new equity or debt capital to establish the facility suggests financial stability and efficient capital management, which could further boost investor confidence.
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