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The Company is also working to complete all of the required permitting paperwork with the
Port of Amsterdam for the launch of a fully operation gasification facility in Amsterdam.
The process is expected to be completed in late third quarter.
During that time, Taronis will begin to customize a second gasification unit for end use in Europe.
Taronis is also working with the government of El Salvador to develop an entirely new fuel product intended to replace propane for residential uses.
TRFN
Taronis Fuels, Inc.
We are a renewable fuel and power generation company. Our primary business objective is the production of sustainable,
socially responsible alternatives to existing fossil fuel and industrial gas products.
Our first commercially competitive product is a metal cutting fuel called "MagneGas".
MagneGas is a proprietary synthetic gas comprised primarily of hydrogen that is produced by the Company from
its Venturi Flow Submerged Plasma Arc Gasification Units ("Gasification Units").
We sell MagneGas, Gasification Units, other specialty gases and ancillary products globally.
16165 N. 83rd Avenue
Suite 200
Peoria, AZ 85382
Taronis Fuels Inc (OTCMKTS: TRNF) has been moving up steadily in recent days since a brief dip below a dime.
The stock is highly liquid and is starting to get a lot of attention at current levels.
TFNF hit the OTCBB after being spun off from Taronis Technologies, Inc., (NASDAQ: TRNX)
a NASDAQ Company currently trading at around $0.30. TRNF initially skyrocketed to $0.51 highs before coming back down to current levels.
Taronis Fuels Inc (OTCMKTS: TRNF) is a clean technology company offering better technology solutions to today’s renewable fuels
and sterilization problems by harnessing its proprietary clean gas technology.
Taronis owns the only patented venturi plasma arc technology that gasifies or sterilizes a wide number of liquids and liquid wastes into a sustainable,
green metal-cutting gas caled MagneGas.
Adoption of such unique gases is growing in major industries ranging from construction
and demolition to metal fabrication and first responders for emergency extraction situations.
Taronis’ patented Venturi Plasma Arc™ is based on flowing the target liquid waste through a submerged electric arc between two electrodes.
The arc breaks-down the liquid molecules into atoms and forms a plasma around the tips of the electrodes at about 10,000 degrees F.
The Venturi moves the plasma away from the electrodes and controls the formation of the gas product that rises to the surface for collection.
Taronis’ MagneGas has a higher flame temperature than acetylene and has been independently certified at 10,500ºF; it can cut faster and cleaner,
with little to no slag and uses less oxygen than its competitors. More specifically, it can cut a two-inch steel plate at a rate of 18 inches per minute,
a full 38% faster than acetylene and 44% faster than propane. Additionally, it emits significantly less carbon dioxide (CO2) than competing gases.
On April 1 in a highly bullish move, the CEO and all independent members of the Board of Directors (as highlited in the form 4’s filed)
purchased just over 4 million shares of TRNF. CEO Scott Mahoney stated
“This transaction is intended to convey the faith and commitment our entire team has in the Company.
As we recently updated, our domestic operations are operating at a high level. Our international business is moving forward on all fronts,
despite the challenges presented by COVID-19.”
In a recent update to shareholders Taronis said its mobile gasification unit scheduled for shipment to
Ankara, Turkey is being commissioned as fully operational in Clearwater, Florida this week.
The unit will be shipped out from the port of Tampa within a week, and is scheduled to arrive in Ankara within 45 days of shipment.
The unit was sold for $5 million to a business development firm that successfully arranged a 30 unit, $165 million contract for a
country wide launch of MagneGas as a viable replacement in the Republic of Turkey.
The unit is expected to be commissioned in Ankara upon delivery in the second half of May.
This commissioning process is the final condition requested by the
Turkish Ministry of Energy and Natural Resources before the acceleration of the $18.75 in payments commence.
The first payment will be required for $4.7 million immediately after the commissioning process.
A second payment will be then accelerated to 30 days from the initial payment.
The third payment will be required approximately 90 days from the initial payment, when the 5 units are ready for shipment.
The remaining $4.7 million payment will be required immediately after the 5 units are commissioned in Ankara, likely in late September 2020.
Next, the Company has made meaningful progress in Bahrain with a global industrial gas provider.
The Company successfully demonstrated the ability to produce MagneGas in Bahrain for less than half the cost to produce acetylene using local market cost factors.
The Company is working to coordinate a final meeting with the regional executives of the prospective partner in order to secure approval to proceed.
The Company is also working to complete all of the required permitting paperwork with the Port of Amsterdam for the launch of a fully operation gasification facility in Amsterdam.
The process is expected to be completed in late third quarter. During that time, Taronis will begin to customize a second gasification unit for end use in Europe.
Taronis is also working with the government of El Salvador to develop an entirely new fuel product intended to replace propane for residential uses.
Taronis CEO Scott Mahoney commented: “We receive a number of inquiries related to our international expansion opportunities.
