Progress Report – April 7, 2015
RSSV is our top recommendation, and Pinnacle Research works hard to keep you updated with the latest activity, trends and information regarding this stock. The most significant development over the past 10 days is the contract which Stolt-Nielsen will be signing with Worx America. This contract will mean millions of dollars for Worx America, and since RSSV now owns 20% of Worx America, it could have a significant impact on this stock.
Stolt-Nielsen Provides ISO Tank for Demo
The above ISO tank was used as a demo for Worx robotic nozzle
Stolt-Nielsen provided an ISO tank to Worx to use as a demonstration platform for the new electrically driven robotic nozzle. Through a window cut in the end, soon to be fitted with Plexiglas, customers can watch the robot trace any spray pattern programmed into the control software. Videos will be made available as soon as possible.
The pending contract is worth millions of dollars to Worx America and will bolster the RSSV stock.
Advantage of Programmable Robot
Common impact spray nozzles, pictured here, use energy from the spray stream to run gears that rotate the spray in a fashion that eventually reaches the entire interior surface of the tank.
This can take hour or more to clean a tank. Worx’s patented robotic nozzle directs the high pressure stream in a precise pattern to spray only areas of the tank that have yet to be impacted—no unnecessary overlap!
Further, Worx America’s spraying system uses proprietary software (Copyright in progress) in order to reduce time, cleaning fluid, and energy requirements. Worx can greatly reduce the time it takes to clean a tank. The software can determine the speed, coordinates and the volume of fluid required for a given tank.
Progress on Electrically Driven Robot
The original prototype Worx nozzle was driven hydraulically, which cannot operate as quickly as electrical systems. The patent is independent of the type of power, so new improvements remain protected by the ex-isting patent.
Funding provided by the recently closed private placement of Worx stock has allowed Worx to employ additional engineers.
Pictured above, electrical engineer, Yudi Zhang demonstrates his satisfaction with the progress Worx has made integrating the new electrical system with the software. Demonstrations are planned during April 2015 using the new demonstration ISO tank. Invitations are being directed to the press and interested parties in the logistics, shipping, and tank industries.