Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ:
TRNX), a leading clean technology company in the renewable
resources and environmental conservation industry, today issued a
joint statement with TA Group, the current counterparty with
respect to Taronis’ $165 million contract to purchase 30, 300 KW
Venturi plasma arc gasification units from Taronis Fuels, a wholly
owned subsidiary of the Company. Today, the owner of TA Group,
Taner Ay stated as follows:
“The national media coverage of our expanding
partnership with Taronis Fuels these past weeks has created
enormous interest within the Turkish business community. I have
been contacted by numerous members of the press, and I wish to
provide a comprehensive response to all questions that I am
currently at liberty to address. I am also taking this opportunity
to confirm our agreement due to the fact that Taronis is a Nasdaq
listed public company with more than 50,000 shareholders and
whereas I have also been contacted by thousands of Taronis’
shareholders. I wish to help address their questions as within the
prudent confines of the US securities laws.”
“First, TA Group was established for a very
unique opportunity. With humility, as many are aware, my family has
been exceptionally successful in business, and I have had an
incredible education in this field from my father, who has been an
amazing investor and entrepreneur his entire life. When Infinite
Fuels brought this opportunity to partner with Taronis, we saw an
incredible opportunity to help the workers of Turkey avoid
thousands of avoidable accidents, injuries and deaths each year.
Following in-country demonstrations of the effectiveness and
importantly, the safety of Taronis’ MagneGas, all of us at the TA
Group are confident that the MagneGas product is fundamentally
safer than the alternative fuels currently utilized in scale in our
country and can save lives and avoid needless injuries related to
acetylene accidents in our homeland. In fact, I believe there
should be no other gas used to cut metal in my country but
MagneGas.”
“Second, our relationship with Taronis and
Infinite Fuels is extremely strong, and we are supporting both
companies to the very highest levels of authority here in Turkey.
We are very fortunate to be on excellent terms with some of the
most important and influential leaders in the history of Turkey,
and they are also strong supporters of what we are trying to
accomplish with Taronis,” continued Mr. Ay.
“Lastly, we feel that this technology can create
thousands of high paying jobs in Turkey. We will support Taronis in
the establishment of a global production facility here in Ankara.
We want to help Taronis manufacture the valves, regulators, hoses
and cylinders they use around the world. Just two weeks ago, we saw
Taronis launch their new operations in Amsterdam. We believe that
with time, they will convert all Europe to MagneGas, and we want to
partner to supply them everything they need to do so, everywhere in
the world.”
Mr. Ay concluded, “My stature and that of the TA
Group has led to significant attention, including on social media
for many years. I plan to leverage all of my resources including
the national press and international social media to influence
others to help them appreciate the importance and benefits of
Taronis and their technology in my country. I believe Taronis’
technology will have an incredible impact on worker safety, the
environment, and make our economy even more competitive. I am
looking forward to once again hosting the executive team of Taronis
as we make our final joint presentations to the highest levels of
government in a few short weeks. We are ready to make Taronis a
household name across all of Turkey.”
Scott Mahoney, CEO of Taronis responded to Mr.
Ay’s comments, “We sincerely thank Mr. Ay and his entire family for
all of their support and faith in the Taronis team and our cutting
edge technology, which is superior by design and safety profile. We
are confident that with this final round of presentations, we can
clear all remaining requirements and proceed with the existing
contract and hopefully expand our relationship with the TA Group
and the Government of Turkey in the near term.”
“We were thoroughly impressed by the scale and
scope of the industry in Ankara and Istanbul, and we see our
technology as having an ideal fit within the Turkish economy. Like
Mr. Ay, we are eager to see MagneGas help save lives and avoid
injury. To that end, we are eager to explore implementing a
comprehensive safety and training program for all the welders that
use our product in Turkey. We also want to see the environment of
Turkey improved through our clean gas production process. Lastly,
we see Turkey benefitting from significant labor savings from the
efficiency gains MagneGas provides. We are looking forward to
launching full-scale operations together shortly,” 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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