Units to Meet Emerging Agricultural Industry Demand
PHOENIX, AZ, March 09, 2020 (GLOBE NEWSWIRE) -- Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ: TRNX), a sustainability technologies company with patented water decontamination and conservation applications, today announced that based on recent business development efforts, the Company has elected to proceed with the construction of three new Venturi plasma arc sterilization units. All three units would be dedicated to serving the hog industry in North Carolina. The configuration and end use of each unit will differ, as follows:
The first unit will be a mobile 300KW water sterilization unit. The primary purpose of this unit will be to periodically treat hog farm lagoons. The unit will be used to kill pathogens, eliminate ammonia, and otherwise improve the water quality. This unit will be specifically designed to rotate across a number of lagoons in a designated area.
The second unit will be designed as a stationary 300 KW water sterilization unit. The primary purpose of this unit will be to operate continuously in tandem with an anaerobic digester at a large-scale hog farm. The objective for this unit will be to sterilize all waste water as it exits the anaerobic digester prior to entering the lagoon. The expected outcome is that if the mobile unit first treats the same lagoon, and the stationary unit is permanently treating all recycled water thereafter, the combined result will be a lagoon that is now permanently cleaner. This is also expected to have a dramatic impact on the water and air quality in close proximity to the lagoon thereafter.
Lastly, the third unit would be an entirely new design for Taronis. This would be a 300 KW mobile metal reclamation plasma arc unit. The Company recently secured a patent for the recovery of dissolved metals. During the USDA funded validation project recently completed, Taronis was able to confirm that the plasma arc ionizes metals, enabling for enhanced metal recovery. This new unit will be used to test the ability to efficiently recover copper, iron, zinc, phosphorus and potassium from the sediment trapped at the bottom of lagoons. The Company may also look to experiment with an entirely new design for a 500 KW Venturi plasma arc unit for this application.
“Our recent business development efforts have been very promising,” commented Scott Mahoney, CEO of Taronis. “We are excited to begin the process of commercializing our technology to serve a massive end market in the hog industry. We are also very encouraged to uncover a compelling new business model within that space that could truly benefit from our unique ability to recover dissolved metals from animal waste.”
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 Khorassani
IR@TaronisTech.com