Taronis Fuels Completes Turkey JV Incorporation
December 12 2019 - 11:00AM
Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ:
TRNX), a sustainability technologies company, today announced
that the Company, together with its former subsidiary, Taronis
Fuels, have successfully completed all of the requirements to form
Taronis Fuels Turkey Gas Enerji Sanayi ve Ticaret Limited Şirketi,
a joint venture between Taronis Fuels and a commercial consortium
based in Ankara.
The purpose of the joint venture will be to
serve the $200 million metal cutting fuel industry of Turkey using
Taronis’ patented submerged plasma arc gasification technology,
which produces the only renewable metal cutting fuel on the market
today.
With the successful completion of all government
requirements, the executive team of Taronis Fuels has been formally
invited to a series of Cabinet-level meetings, culminating with an
executive meeting where the signing of critical government
pronouncements is scheduled for next week. The event will be filmed
by a London based film crew for broad Western coverage, as well as
the local media, which will be viewed by an international audience
within the region of more than 250 million viewers.
“We are pleased to reach this critical
milestone,” commented Scott Mahoney, CEO of Taronis. “This official
government signing event is the culmination of almost two years of
hard work. To have the opportunity to partner at the very highest
level of industry with strong and clear government support is a
major accomplishment and a powerful endorsement for our technology
and our team.”
“We look forward to the signing event next week,
and are eager to get started on the mass production of our 300 KW
Venturi plasma arc gasification units for immediate deployment to
Ankara in early 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 holds a 7% royalty on the global use of its fuel generation
intellectual property. The initial commercialized renewable fuel
product license is disrupting an $8 billion global metal cutting
fuel market.
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. 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 you with live remote consumption
monitoring for long term leak protection and water asset
management. An integral, client based alarm and notification system
that 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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