What Kelso Technologies does

Kelso Technologies Inc. is a publicly traded (TSX: KLS, NYSE-MKT: KIQ) British Columbia-incorporated transportation equipment company founded in 1987, headquartered in West Kelowna, BC with primary production operations in Bonham, TX. The company designs, engineers, manufactures, and distributes proprietary safety-critical components for rail tank cars, tank trailers, and heavy equipment fueling systems, with all products manufactured in the USA. Its core portfolio centers on rail tank car valves — Pressure Relief Valves (PRV) with external mounting design, Bottom Outlet Valves (BOV) in steel and ceramic ball variants, Vacuum Relief Valves, Angle Valves, and pressure differential components — most of which carry Association of American Railroads (AAR) approvals and meet DOT-117 specifications. The product line also includes DOT-approved trucking components (one-bolt manways, pressure/vacuum safety valves for tank trailers) modeled after the rail products, and the Hydrau-Flo fuel filling valve line for locomotives, military, oil & gas, mining, and marine applications.

The company's business model is hardware sales through direct enterprise field sales to rail tank car OEMs, retrofit and repair shops, Class I railroads, tank truck OEMs, and military/government customers. Pricing is quote-based per order, with a gross profit margin target of 30% (actual 41% in FY2025) supported by proprietary designs and AAR approvals that function as regulatory qualifications for product adoption. Distribution supplements direct sales through partnerships with Metal Goods Manufacturing Co (MGM) for check valves, tank gauges, and lab equipment, and Bulk Tank Inc. for pressure differential hopper car components. AAR M1003 quality certification (2025-2028) and multiple product-specific AAR approvals underpin the regulatory moat for rail market entry. The company has wound down its KIQ X Industries (KXI) ADAS-related operations and is refocusing on core rail and fueling valve businesses.

FY2025 marked the company's first profitable year since 2020, generating $10.78 million in revenue (approximately flat YoY) with net income of $447,397 and 41% gross margins. However, Q1 2026 revenue of $1.75 million represented a 45% decline from Q1 2025, and industry tank car delivery forecasts indicate a greater than 20% decline in 2026, signaling material headwinds. The company is led by CEO Jesse Crews (appointed April 2026 following Frank Busch's resignation), COO Amanda Smith, and CFO Sameer Uplenchwar, operating with no interest-bearing long-term debt and a working capital line of $1 million from Texas Capital Bank.

Name

Kelso Technologies

Legal name

Kelso Technologies Inc.

Website

https://kelsotech.com

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

51–100 employees

Short description

Kelso Technologies designs, manufactures, and distributes proprietary AAR-approved safety valves and components for rail tank cars, tank trailers, and heavy equipment fueling systems, selling directly to OEMs, retrofit shops, Class I railroads, and military customers across North America.

Ownership category

akta.pro rank

Product category

Rail Tank Car Valves and Transportation Safety Equipment

NAICS

Industrial Valve Manufacturing (332911), Metal Valve Manufacturing (33291)

SIC

Pumps & Pumping Equipment (3561)

akta.pro primary industry

Seals, Valves & Auxiliary Components (for Pumps/Compressors) (IMAHANAH)

Keywords

• Rail tank car valves
• Transportation safety equipment
• Pressure relief valves
• Tank trailer components
• Fuel filling valves

Headquarters

HQ city

Surrey

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Rail Tank Car Equipment Sales: Sale of proprietary valve components for rail tank cars including pressure relief valves, bottom outlet valves, vacuum relief valves, angle valves, and pressure car components. Revenue generated through per order-based pricing with customers including tank car OEMs and retrofit/repair shops.
2. Trucking Equipment Sales: Sale of trucking components for tank trailers including pressure/vacuum safety valves and one-bolt manways. DOT-approved components modeled after rail tank car products.
3. Fueling Equipment Sales: Sale of Hydrau-Flo fuel filling valves for heavy equipment including railroad locomotives, military, oil and gas, mining, and marine industries.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Kelso Technologies designs, engineers, manufactures, and distributes proprietary transportation safety equipment, with its core focus on AAR-approved valves and components for rail tank cars (Pressure Relief Valves, Bottom Outlet Valves, Vacuum Relief Valves, Angle Valves, Pressure Differential Parts). The company also sells DOT-approved tank truck components and the Hydrau-Flo fuel filling valve line for locomotives and heavy equipment, all 100% made in the USA at its Bonham, Texas production facility.

Product overview

Kelso Technologies is a transportation equipment company specializing in proprietary rail tank car valves, trucking components, and fueling systems. The product portfolio centers on safety-critical valves for rail tank cars including Pressure Relief Valves (PRV), Bottom Outlet Valves (BOV) with ceramic/steel ball options, Vacuum Relief Valves (VRV), and Angle Valves - all with varying AAR approval statuses. The company offers Pressure Car Kits and General Purpose Car Kits as bundled solutions. Trucking products include One-Bolt Manways and Pressure/Vacuum Safety Valves for tank trailers modeled after rail products. The Hydrau-Flo fuel filling valve serves railroad locomotives and heavy equipment. A distribution partnership with MGM provides check valves and tank gauges, while a partnership with Bulk Tank Inc. offers pressure differential parts. The discontinued KXI HD suspension system was an automotive ADAS product. All products are 100% Made in the USA.

Differentiator

Problem solved

Functional benefit

Brands

• Hydrau-Flo: Fuel filling valves providing safe handling and overfill protection for heavy equipment including railroad locomotives.
• KXI

Products and services

• Pressure Relief Valve (PRV) External Pressure Relief Valve for general purpose rail tank cars that improves reliability and performance over older internal models, features constant force pressure springs and DOT-117 specifications, and is offered in AAR-approved JS75 series variants.
• Bottom Outlet Valve (BOV) Two Bottom Outlet Valve models (steel ball and ceramic ball) for rail tank cars with TFM or PTFE seat materials, ceramic wiper, self-adjusting stem seal, low profile design, and AAR M1002 Field Service Trial approval.
• Vacuum Relief Valve (VRV) Vacuum Relief Valve with constant force pressure springs meeting DOT-117 tank car specifications, offered in 1.5, 3, and 4.5 psi variants with 2.5 inch threaded connection or flange, and AAR approved in 2025.
• Angle Valve Specialized 2-inch angle valve for the pressure car package with AAR approval, designed for pressurized rail tank cars and pressure-differential tank cars, completing Kelso's full AAR approval portfolio for rail pressure car products.
• Pressure Differential Parts Pressure differential hopper car components including butterfly valves, multi-angle valve extensions, pressure differential pressure relief valves, check valves, and aeration systems, developed in partnership with Bulk Tank Inc. using food-grade materials.
• Check Valves, Tank Gauges & Laboratory Test Equipment (MGM) Distribution line of check valves, fittings, tank gauges, and laboratory test equipment (including Reid vapor pressure cylinders and sample cylinders) made of carbon or stainless steel, sourced from Metal Goods Manufacturing Co (MGM).
• One-Bolt Manway DOT-approved one-bolt manway for road tank trucks designed to address performance issues in the trucking transportation sector, modeled on Kelso's rail tank car components.
• Pressure/Vacuum Safety Valve for Tank Trucks DOT-approved pressure/vacuum safety valve for road tank trucks providing improved reliability and safety over older valve designs with documented safety concerns.
• Hydrau-Flo Fuel Filling Valves Hydrau-Flo brand fuel filling valves providing safe handling and overfill protection for heavy equipment including railroad locomotives, preventing overfilling, fuel spillage, waste, fuel theft, and tank ruptures while improving fueling times by more than 80%.
• General Purpose Rail Tank Car Kit Complete kit of AAR-approved valves and components (PRV, VRV, BOV, related fittings) packaged as a comprehensive solution for general purpose tank car equipment needs.
• Pressure Rail Tank Car Kit Complete kit of AAR-approved valves and components for pressurized rail tank cars, including angle valves and pressure relief valves designed for pressure car applications.
• KXI HD Suspension System Discontinued KXI product line — an automated suspension-based Advanced Driver Assistance System for commercial mission-critical wilderness operations under Kiq X Industries Inc., which has been wound down and reported as discontinued operations.

Quantifiable outcome

• Gross profit margin of 41% in FY2025, exceeding industry averages
• +3 more outcomes

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Two partnerships are on record, tiered minor.

• CBIZ CPAs P.C.minorOthers · 6 October 2025CBIZ CPAs P.C. appointed as Kelso's new public accounting firm effective October 6, 2025, following the resignation of Smythe LLP. CBIZ is ranked among the top 10 public accounting firms in the United States.
• Metal Goods Manufacturing Co (MGM)minorChannel Partner/ Reseller/ DistributorKelso has a distribution agreement with Metal Goods Manufacturing Co to provide their components including check valves, fittings, tank gauges, and laboratory testing equipment to customers. All MGM valves are made of carbon or stainless steel and include threaded valves, flanged valves, check valves, and more.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• CIRCOR International: CIRCOR (now KKR-owned) manufactures flow control products including valves for aerospace, defense, and industrial markets. Comparable to Kelso in proprietary valve design, safety-critical regulatory certifications (AAR-equivalent), and a broad product portfolio spanning transportation and industrial verticals.
• Mueller Industries: Mueller Industries manufactures copper, brass, aluminum, and steel valves, fittings, and pipes for plumbing, HVAC, gas distribution, and industrial applications. Comparable to Kelso in metal valve manufacturing, proprietary product focus, and direct-to-OEM B2B sales motion in North America.
• Velan Inc. Velan is a Canadian-based manufacturer of industrial valves serving power, oil & gas, chemical, and pulp & paper markets. Highly comparable to Kelso in product (proprietary industrial valves), business model (per-unit pricing, engineering-led), and small/mid-cap North American profile — making it the closest direct peer in size and scope.

Broad incumbents

• Crane Co. Crane Co.'s Engineered Materials segment manufactures fluid handling products, process valves, and sensing/utilities. Comparable to Kelso in industrial valve manufacturing and safety-critical certifications for transportation and industrial markets, with a substantially larger and more diversified portfolio.
• Flowserve Corporation: Flowserve is a global leader in industrial pumps, valves, seals, and flow control automation. Comparable to Kelso in valves product category and safety-critical applications, but vastly larger with global distribution — represents the natural strategic acquirer for niche valve companies with proprietary technology.
• ITT Inc. ITT's Industrial Process segment produces pumps, valves, and control systems for chemical, mining, and oil & gas customers. Comparable to Kelso in industrial valve technology, engineering services, and per-specification manufacturing model — with a far larger global footprint.
• Watts Water Technologies: Watts Water manufactures valves, flow control products, and water systems for plumbing, heating, and water treatment. Comparable to Kelso in valve manufacturing and per-order B2B sales model, with a much broader product portfolio and end-market diversification.
• Parker Hannifin: Parker's Motion & Control Technologies include fluid power valves, fittings, and connectors for industrial, aerospace, and transportation markets. Comparable to Kelso in industrial fluid handling products and transportation vertical exposure, with vastly greater scale and R&D capacity.

Regional players

• Neway Valve: Neway Valve (SUFA) is a Chinese manufacturer of industrial valves for oil & gas, power, and chemical applications. Comparable to Kelso in product category (ball valves, gate valves, check valves) and safety-critical certifications, with primary focus on China and Asia limiting direct US competition.
• Kitz Corporation: Kitz is a Japanese manufacturer of industrial valves (brass, bronze, stainless steel, cast iron) for plumbing, HVAC, and industrial applications. Comparable to Kelso in proprietary valve design and per-specification product focus, with a primarily Asian market orientation that limits direct US overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kelso-technologies-inc-

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kelso Technologies