Taronis Fuels Launches Newest Retail Location
MagneGas Demonstrations Generate $2 Million Sales Pipeline
PHOENIX, AZ, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced the official opening of its newest industrial gas and welding supply retail location in Peoria, Arizona. The Company operates 22 retail locations under the MagneGas Welding Supply brand in six states. The newest location is at 9012 W Bloomfield Rd and is the Company’s first retail location in Arizona.
The Company relocated its corporate headquarters to Peoria in the summer of 2020 and has made the Arizona market a top priority for growth in 2021 and beyond. The Company selected the Peoria location for multiple operational objectives, as follows:
- The Company’s first MagneGas Welding Supply retail location in Arizona.
- The Company is relocating its MagneGas research and engineering team, which is slated to launch its third MagneGas production hub in the second quarter of 2021.
- The Company plans to use the facility as a regional hub for its wholesale gas distribution division, TGS. The facility will directly serve HVAC gas clients in the Phoenix market, as well as a regional cylinder distribution hub for TGS’s West Coast operations.
- Lastly, the facility will manufacture all Venturi plasma arc gasification units for both domestic and international deployment.
“We are pleased to officially open our doors in Arizona and begin serving the needs of our clients in the local market,” commented Scott Mahoney, CEO of Taronis Fuels. “For the past several months, we have selectively conducted MagneGas demonstrations for prospective customers. As a former banker for many years in Phoenix, we successfully leveraged several of my longstanding industrial and manufacturing relationships to soft launch our retail operations.”
“Consequently, I am excited to share that we already have a robust pipeline of new clients that have committed to working with our team in Arizona. We currently forecast approximately $2.0 million in annualized sales commitments with new clients in this market prior to the launch of our retail location. At these levels, those revenues are projected to enable us to launch this location with a clear path to scaled profitability.”
“We developed an aggressive pricing and marketing strategy for the Phoenix metro market that has been well received. We also have the added advantage that the only acetylene producer in this market produces acetylene using calcium carbide, consuming millions of gallons of scarce fresh water every year. Our clients here in Arizona have been highly receptive to the fact that they are converting to a better priced product with greater functionality, all while contributing to critical water conservation efforts with every cylinder of MagneGas that they use,” 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
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 .
Investor Contacts:
Michael Khorassani
