50%+ Cheaper than Acetylene in US Markets
PHOENIX, AZ, March 17, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTC: TRFN), a global producer of renewable and socially responsible fuel products, today announced an aggressive new national marketing campaign for MagneGas across the United States. This campaign will emphasize a dramatically reduced pricing program for the remainder of 2020.
“We already knew we had a superior product, now with a 50% pricing advantage, we are on a mission to aggressively take market shares everywhere we can. Pricing is king, and we are going to press our most powerful advantage to rapidly grow our business,” commented Scott Mahoney, CEO of Taronis Fuels.
In 2019, the Company implemented a new refining technique to significantly reduce the vaporized liquid content generated as part of the production of MagneGas. By eliminating most of the liquid content, the Company determined that this had a dramatic impact on production costs. Prior to this development, Taronis produced MagneGas for approximately $0.095 to $0.105 per cubic foot. With the new production techniques, this cost is now less than $0.075 per cubic foot, representing a 29% reduction in cost.
With the newfound savings, the Company has elected to pass these savings on to new customers. Historically, the Company has marketed its product at $45 to $55 per cylinder for MagneGas. This typically represented a 20-30% lower price point relative to acetylene. For the remainder of 2020, Taronis will aggressively price its MagneGas product at 50% of the cost of acetylene in all markets served.
“With the combined economic shock of the oil price war and the Coronavirus, many US businesses are feeling pressured. We are going to do our part to help our customers weather the storm. We have the ability to pass on real savings to manufacturers, welding shops, fabricators, and other industrial companies that are a critical part of the US economy,” 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