Kelso Technologies Inc. Appoints Frank Busch as Permanent Chief Executive Officer

Kelso Technologies appoints Frank Busch as permanent CEO, succeeding his interim role since July 2024.

Quiver AI Summary

Kelso Technologies Inc. has appointed Frank Busch as its permanent Chief Executive Officer, after serving as interim CEO since July 2024. The Board of Directors unanimously supported this decision, highlighting Busch's effectiveness in the interim role. Busch expressed his honor in taking on the CEO position and his commitment to executing the company's strategic plan while managing resources and targeting growth opportunities. Kelso Technologies focuses on innovative transportation equipment for rail and automotive sectors, emphasizing safety and environmental considerations in its product design. The company plans to present its outlook for fiscal year 2025 soon.

Potential Positives

• Appointment of Frank Busch as permanent CEO indicates stability and confidence from the Board of Directors, following a successful tenure as interim CEO.
• Mr. Busch's vision for growth and resource management promises strategic development and potential new opportunities for the company.
• The upcoming presentation of FY2025 outlook suggests transparency and commitment to communicating the company’s future strategy to stakeholders.
• Kelso Technologies' focus on innovation and safety in its product offerings positions the company favorably within critical transportation industries.

Potential Negatives

• The announcement highlights the appointment of a new permanent CEO, indicating instability in leadership with the previous interim period lasting for nearly seven months.
• The press release includes a significant legal notice about forward-looking statements, detailing multiple risks and uncertainties that may impact the company's future performance, which could raise concerns for investors.
• The mention of potential issues such as development delays, inadequate capital resources, and possible failure to secure regulatory certifications may suggest fundamental challenges in the company's operational strategy and product viability.

FAQ

Who has been appointed as the permanent CEO of Kelso Technologies?

Frank Busch has been appointed as the permanent Chief Executive Officer of Kelso Technologies.

When did Frank Busch start serving as interim CEO?

Frank Busch has been serving as interim CEO since July 2024.

What are Kelso Technologies' core business areas?

Kelso Technologies specializes in rail and automotive transportation equipment, including high-quality rail tank car valves and advanced driver assistance systems.

What is Kelso's vision under Frank Busch's leadership?

Under Frank Busch's leadership, Kelso aims to execute its strategic plan and achieve growth objectives while managing resources effectively.

Where can I find more information about Kelso Technologies?

More information about Kelso Technologies can be found on their website at kelsotech.com and on public documents posted on SEDAR and EDGAR.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

Full Release

WEST KELOWNA, British Columbia and BONHAM, Texas, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Kelso Technologies Inc. (“Kelso” or the “Company”) (TSX:KLS) is pleased to announce the appointment of Frank Busch as the company's permanent Chief Executive Officer. Mr. Busch has been serving as interim CEO since July 2024.

“Frank has proven to be an excellent choice as Interim Chief Executive Officer during his first six months in the role,” said Paul Cass, Lead Independent Director. “As such, the Board of Directors have unanimously agreed to offer him the position of Chief Executive Officer for the organization, to which he has accepted. We look forward to the impact of Frank’s leadership, vision and execution focus on the future success of Kelso.”

Mr. Busch added, "I am honored to be appointed as the CEO of Kelso Technologies. I look forward to working with our talented team to execute on our strategic plan and achieve our growth objectives. This includes carefully managing our resources and positioning ourselves for the exciting opportunities we see on the horizon."

The company is preparing to present its FY2025 outlook in the coming weeks.

About Kelso Technologies

Kelso is a diverse transportation equipment company that specializes in the creation, production, sales and distribution of proprietary products used in rail and automotive transportation. The Company’s rail equipment business has been developed as a designer and reliable domestic supplier of unique high-quality rail tank car valves that provide for the safe handling and containment of commodities during rail transport. The automotive division of the Company has created the first proven automated suspension-based Advanced Driver Assistance System for commercial mission-critical wilderness operations. All Kelso products are specifically designed to address the challenging issues of public safety, worker well-being and potential environmental harm while providing effective and efficient operational advantages to customers. Kelso’s innovation objectives are to create products that diminish the potentially dangerous effects of human and technology error through the use of the Company’s portfolio of proprietary products.

For a more complete business and financial profile of the Company, please view the Company's website at

kelsotech.com

and public documents posted under the Company’s profile on

SEDAR

in Canada and on

EDGAR

in the United States.

On behalf of the Board of Directors,

Frank Busch


Chief Executive Officer

Legal Notice Regarding Forward-Looking Statements

: This news release contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements indicate expectations or intentions. Forward-looking statements in this news release include achieving growth objectives. Although Kelso believes the Company’s anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, they can give no assurance that such expectations will prove to be correct. The reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Kelso to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information, including without limitation that the risk that the longer-term effects on the rail industry including high interest rates, inflation and short supply chain issues may last much longer than expected delaying business orders from customers; that the development of new products may proceed slower than expected, cost more or may not result in a saleable product; that tank car producers may produce or retrofit fewer than cars than expected and even if they meet expectations, they may not purchase the Company’s products for their tank cars; capital resources may not be adequate enough to fund future operations as intended; that the Company’s products may not provide the intended economic or operational advantages to end users; that the Company’s new rail products may not receive regulatory certification; that customer orders may not develop or be cancelled; that competitors may enter the market with new product offerings which could capture some of the Company’s market share; that a new product idea under research and development may be dropped if ongoing product testing and market research reveal engineering and economic issues that render a new product concept infeasible; and that the Company’s new equipment offerings may not capture market share as well as expected. Except as required by law, the Company does not intend to update the forward-looking information and forward-looking statements contained in this news release.

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