Water Pilot Wins 5 Installations with Large Popeye’s Franchise
October 21 2019 - 8:00AM
Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ:
TRNX), a leading clean technology company in the renewable
resources and environmental conservation industry, today announced
that its majority owned subsidiary, Water Pilot, LLC (“Water
Pilot”) has won a 5 install contract with one of the largest quick
service restaurant franchise operators in the US.
The new client has authorized an initial five
locations for paid installations of the Water Pilot’s water
conversation technology. The client has indicated that if the
initial results from these five installs deliver the expected
savings in water utility expenses, they anticipate authorizing the
install at all 115 locations. If this initial paid install proceeds
as expected, the resulting contract for remaining locations would
be in excess of $300,000.
“This is a very promising win for the Water
Pilot team,” commented Scott Mahoney, CEO of Taronis. “After only a
few short months of working together, we have advanced the
commercialization of this technology significantly. In May, the
Water Pilot was doing unpaid pilot installs to generate interest.
Today, we are now charging full rates for installs based on our
strong track record of saving clients upwards of twenty to even
thirty percent in some cases on their water utility bills. We are
also able to help conserve significant unnecessary fresh water
consumption for these clients.”
“Today, we are gaining real financial momentum.
We are starting to generate revenues in the tens of thousands of
dollars per month, and this is quickly turning the Water Pilot into
a profitable business. We are deliberately targeting large scale
operators in the hospitality, restaurant, healthcare and high
density living markets.”
“Most of these prospective clients operate at
least 100 locations each. With a price point of about $2000 for our
smaller valves, and over $25,000 for our largest models, we are
focused on clients that can deliver several hundred thousand
dollars each to our revenue mix in 2020. We believe Water Pilot has
the potential to quickly scale into a highly profitable,
multimillion dollar operation in 2020,” concluded Mr. Mahoney.
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. Lastly, 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/
FORWARD-LOOKING STATEMENTS
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.
Investor Contacts: Michael KhorassaniIR@TaronisTech.com
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