New Facility Increases Production Capacity by More than 50%
PHOENIX, AZ / ACCESSWIRE / September 9, 2019 / Taronis Technologies, Inc., ("Taronis" or "the Company") (NASDAQ:TRNX), a leading clean technology company in the renewable resources and environmental conservation industry, announced the commissioning of a new 200 KW Venturi plasma arc gasification unit in Flint, Texas. This unit is now fully operational, and has immediately increased the Company's MagneGas production capacity by more than 50%. The Texas production facility now operates to meet the demands of the Company's MagneGas clients in Texas, Louisiana and California, as well as independent industrial gas wholesale partnerships across the Midwest and along the East Coast.
"This is a significant accomplishment for our engineering team," commented Scott Mahoney, CEO of Taronis. "The Texas market has been highly receptive to our initial marketing efforts for MagneGas. We have been deploying thousands of MagneGas cylinders into the market, and we are now constructing bulk gas containers for new clients. These containers accommodate up to 15 MagneGas cylinders per unit, and are a convenient way for high volume consumers of metal cutting fuels to switch away from acetylene and adopt MagneGas instead."
"We see this new production hub rapidly overtaking our Florida production facility, as this is our most modern gas unit, and can out produce our entire Florida operations running one unit one and a half production shifts per week. As our most efficient gasification unit, it should contribute meaningfully to our operational savings and enable us to reduce transportation costs to California and all across the Midwest."
About Taronis Technologies, Inc.
Taronis Technologies, Inc. (TRNX) owns a patented plasma arc technology that enables two primary end use applications for fuel generation and water decontamination.
The Company's fuel technology enables a wide use of hydrocarbon feedstocks to be readily converted to fossil fuel substitutes. The Company is developing a wide range of end market uses for these fuels, including replacement products for propane, compressed natural gas and liquid natural gas. The Company currently markets a proprietary metal cutting fuel that is highly competitive with acetylene. The Company distributes its proprietary metal cutting fuel through independent distributors in the US and through its wholly owned distributors doing business as "MagneGas Welding Supply". The Company operates 22 locations across California, Texas, Louisiana, and Florida.
The Company's technology can also be implemented for the decontamination of waste water, including sterilizing water, eradicating all pathogens. The technology is being tested to determine if it can completely eliminate pharmaceutical contaminants such as antibiotics, hormones and other soluble drugs suspended in contaminated water. The technology process is capable of reducing or eliminating other contaminants, such as harmful metals, as well as nitrogen, phosphorus, and potassium levels that trigger toxic algae blooms. The technology has prospective commercial applications in the agricultural, pharmaceutical, and municipal waste markets. For more information on Taronis, please visit the Company's website at http://www.TaronisTech.com.
Taronis also owns a controlling interest in Water Pilot, LLC. The WATER PILOT® System immediately reduces water consumption and provides live remote consumption monitoring for long term leak protection and water asset management. An integral, client-based alarm and notification system reports to any mobile device. Water Pilot may be appropriate for a wide range of businesses or properties with a water meter. For more information, please visit our website at www.gowaterpilot.com/
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
SOURCE: Taronis Technologies
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