MagneGas Welding Supply Launches New Fort Wayne Location
PHOENIX, AZ, May 04, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”)(OTC: TRNF), a global producer of renewable and socially responsible fuel products, today announced the expansion of its retail operations into the Midwest with its new location in Fort Wayne, Indiana. The Company currently operates twenty-four industrial gas supply locations in Florida, Louisiana, Texas, California, and now Indiana.
The Company assumed control of the assets and operations of a small independent industrial gas distributor in the Fort Wayne market for zero upfront consideration. The key sales personnel approached the Company in March of 2020 with a client book of business in excess of $5 million in annual spending but lacking the necessary assets and resources to support their clients’ growth potential. The key sales personnel became employees of MagneGas Welding Supply, the Company’s domestic retail operations, effective May 1, 2020.
“This was a very fortunate development for the Company,” commented Scott Mahoney, CEO of Taronis. “We had a legacy relationship with the key sales staff at their prior company for a number of years. They had acted as a highly successful distributor of MagneGas to some of the marquee manufacturing names in the industry, including several Fortune 500 companies. We see enormous growth potential with this team leading our Midwestern growth strategy.”
“This is a fundamentally solid growth opportunity that speaks volumes with regards to the progress we have made in the US industrial gas industry. We were considered a partner of choice and a highly desirable place of employment for an experienced sales team with a world class clientele that they have served for many years. For them to approach us and to ultimately join our team is a strong endorsement of our reputation in the industry. We are excited to enter into a new and promising market, and we are honored to expand our team of excellent industry professionals to include our new Fort Wayne employees,” 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