Published:
Franklin Fueling Systems Inc. Receives CARB Approval of 'Wiredless'(TM) in Station Diagnostic System
BLUFFTON, Ind., Aug. 29 /PRNewswire-FirstCall/ -- Franklin Electric Co.,
Inc. (Nasdaq: FELE) reported today that it has received an Executive Order
from the State of California Air Resources Board ("CARB") approving its
Wiredless(TM) option to its In Station Diagnostics ("ISD") System already
approved by CARB.
CARB regulations require that ISD systems be installed over the next two
years in the majority of the approximate 11,800 gas stations located in
California. While typical ISD equipment costs $10,000-15,000, the cost of
installation can double or even triple the total cost of upgrading to ISD.
Franklin's patent pending Wiredless(TM) option dramatically reduces those
costs.
Establishing the necessary communication wiring from each dispenser to the
ISD monitor hanging on the station wall represents a large portion of the cost
of an ISD system installation. In older gas stations, estimated to be
approximately one third of installations, the installing contractor needs to
'break concrete' to install the necessary wiring. Often the station has to be
closed for days to complete the installation. Even in newer gas stations,
where contractors expect to 'pull' the communication wire through existing
wire conduits, the process is time consuming. And problems can arise-adding
unforeseen costs and potentially requiring the station to be closed during
conversion.
Franklin's Wiredless(TM) solution eliminates all of these complications by
taking advantage of the gas station's existing wiring to communicate between
the dispenser and the ISD monitor. Importantly, the Franklin ISD System with
the Wiredless(TM) option can be installed without shutting down the gas
station. This advantage represents substantial cost savings for the operator
and eliminates the inconvenience to the consumer of a closed gas station.
At a cost of $5,000-6,000 for a typical station, the Franklin
Wiredless(TM) option, packaged with Franklin's ISD System, offers a great
installation value forCalifornia gas stations required to install ISD
systems. Relative to the cost of 'breaking concrete' and 'pulling wire' along
with the associated disruption or closure of the gas station during
installation, selection of the Franklin ISD System in combination with the
Wiredless(TM) option should reduce by tens of million of dollars the
collective cost of compliance by station owners with CARB's Enhanced Vapor
Recovery upgrade program currently underway.
Franklin Electric Chairman and Chief Executive Officer, Scott Trumbull,
stated:
"As the leading global manufacturer of submersible motors installed
hundreds of feet below ground, for decades, Franklin has been utilizing the
motor's power cable to communicate motor telemetry to the surface for system
monitoring. However, our engineering teams inMadison, Wisconsin andSaco,
Maine have developed a unique way to apply this know-how in a filling station.
As part of the process, the teams evaluated both 'wired' and 'wireless'
technologies that could minimize the financial burden of an ISD installation.
Given the checkered historical performance of wireless communication in gas
stations, we chose the more robust solution that utilizes the station's
existing, proven power lines.
As we have reported before, there are two CARB approved ISD systems. We
are pleased that the innovations to Franklin's ISD system have resulted in the
only one that can be installed without 'pulling wire' or 'breaking concrete'.
Additionally, our system is the only system that shuts down the dispenser
only, and not the whole gas station, when it receives a dispenser alarm. These
innovative features reduce installation and operating costs for the station
owner, and minimize the lost revenue and the inconvenience of station 'down-
time', to station owners and consumers, respectively.
Further, we have included another innovative product with each system-a
one year trial license for our Get Connected AnyWare(TM) communications
software. This software allows the station operator to monitor station
forecourt activity, from any computer, anywhere, through the internet."
Franklin Electric is a global leader in the production and marketing of
systems and components for the movement of water and automotive fuels.
Recognized as a technical leader in its specialties, Franklin serves customers
around the world in residential, commercial, agricultural, industrial,
municipal, and fueling applications.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995. Any forward-looking statements contained herein, including those
relating to the Company's financial results, business goals and sales growth,
involve risks and uncertainties, including but not limited to, risks and
uncertainties with respect to general economic and currency conditions,
various conditions specific to the Company's business and industry, weather
conditions, new housing starts, market demand, competitive factors, changes in
distribution channels, supply constraints, technology factors, litigation,
government and regulatory actions, the Company's accounting policies, future
trends, and other risks which are detailed in the Company's Securities and
Exchange Commission filings, included in Item 1A of Part I of the Company's
Annual Report on Form 10-K for the fiscal year ending December 29, 2007,
Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company's
Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual
results to differ materially from those indicated by the forward-looking
statements. All forward-looking statements made herein are based on
information currently available, and the Company assumes no obligation to
update any forward-looking statements.
SOURCE Franklin Fueling Systems Inc.
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