New Market Represents an Immediate 15% Increase
In Annual Wholesale Gas Revenues
PHOENIX, AZ, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced it has expanded its wholesale gas distribution business into the Houston market. The Company was successful in securing a new client relationship valued at in excess of $1 million in annual revenues and is actively pursuing several more highly promising client relationships that could quickly increase revenues from the Houston market to approximately $2 million in annual sales.
“The Houston market offers a compelling expansion opportunity for our US operations,” commented Scott Mahoney, CEO of Taronis Fuels. “Our wholesale gas division continues to be a meaningful catalyst for domestic growth. This expansion can be accomplished within our current personnel, requires limited capital expenditures, and provides a solid financial platform for expanded profitability.”
“This is an excellent example of how our domestic business is now accelerating organic growth. Our wholesale division has identified a number of additional new markets where we can leverage existing industry relationships to drive geographic expansion and revenue growth with limited capital investment.”
“Once our wholesale businesses deliver several months of profitable operations, we will look to add a permanent industrial gas and welding supply retail location. This base of operations would then enable our wholesale gas operations to expand their capabilities and continue to seek out high margin gas clients in the heating, ventilation, and air condition sector within the Houston market. As one of the largest industrial markets in the US today, this is an ideal target market for our wholesale, retail, and MagneGas specialty gas business segments,” 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