Arizona State University Study Shows MagneGas Production Has An 85% Lower Carbon Footprint Vs. Acetylene
PHOENIX, AZ, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today released the findings in a new sustainability white paper completed by Arizona State University’s School of Sustainability (“ASU”). The white paper is titled: Acetylene & MagneGas Sustainability Assessment -A comparative environmental impact analysis of several acetylene production processes and the Taronis MagneGas production process.
The Company commissioned a team of four engineers at ASU to conduct an independent environmental assessment of the carbon footprint of all major forms of acetylene production, along with a direct comparison of the environmental footprint for the production of MagneGas, the Company’s patented, renewable metal cutting fuel product.
The results of the independent study indicated that MagneGas production has a significantly lower carbon footprint relative to all acetylene production methods. The calcium carbide acetylene production process produces an 85% larger carbon footprint than MagneGas production. Alternatively, all other acetylene production methods using the petrochemical refining processes demonstrate a 65% larger carbon footprint when compared to MagneGas production.
Based on these findings, MagneGas has the potential to meaningfully contribute to the global effort to reduce the industry’s carbon footprint. The Company estimates the acetylene industry generates approximately 2.65 million tons of carbon dioxide every year. Global adoption of MagneGas could eliminate 2.25 million tons of this output annually.
“This is a very significant milestone in the independent validation of our technology,” commented Scott Mahoney, CEO of Taronis Fuels. “Arizona State University has one of the largest Schools of Sustainability in the United States, and a world-class engineering program. We were very excited to partner with ASU to conduct this research study.”
“The sustainability impact of MagneGas production on the global metal cutting fuel market is compelling. Our process does not pollute or consume water. We generate virtually no waste streams. Our production process is very clean, and our feedstocks repurpose widespread waste streams to create a valuable renewable product.”
“The ASU report is a strong validation of our mission statement to produce renewable fuels that are fundamentally cleaner alternatives to acetylene, propane, and other fossil fuel products. To demonstrate an 85% lower carbon footprint while delivering a functionally superior, lower-cost product for our customers is a clear commercial and environmental success,” concluded Mr. Mahoney.
About Taronis Fuels, Inc.
Taronis Fuels, Inc. is a global producer of renewable and socially responsible fuel products. Our goal is to deliver environmentally sustainable, technology driven alternatives to traditional fossil fuel and carbon-based economy products. We believe our products offer a vastly cleaner solution to legacy acetylene and propane alternatives.
Taronis is also dedicated to providing fundamentally safer solutions to meet the industrial, commercial and residential needs of tomorrow’s global economy. Our products have been rigorously tested and independently validated by global gas authorities as vastly safer than acetylene, the most dangerous industrial gas in use today.
Lastly, we strive to deliver products that offer significant function superiority at a reduced cost to the end consumer. Through these efforts, we support 9 of the 17 United Nations Sustainable Development Goals. For more information, please visit our website at www.taronisfuels.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 Khorassani
IR@Taronisfuels.com