Taronis Awarded Critical New Water Patent
Proprietary Metal Reclamation Patent for Contaminated Water
PHOENIX, AZ, Jan. 27, 2020 (GLOBE NEWSWIRE) -- Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ: TRNX), a sustainability technologies company, announced today that the Company has been awarded a new patent. On January 21, 2020, the US Patent Office issued U.S. patent number 10,537,902. The patent is titled Reclamation of Metals from a Fluid. This patent was filed as a direct result of findings from the USDA funded agricultural waste sterilization project completed in September 2019.
The Company has previously detailed its desired business model for agricultural waste solutions using its patented submerged plasma arc technology. The Company is actively seeking joint venture partners, specifically in the cattle and hog segments of the agricultural space. The Company has conducted extensive validation testing to demonstrate its ability to eradicate pathogens, breakdown pharmaceutical wastes, and to recover harmful metals dissolved in animal wastes.
“This patent is additive to our efforts to attract world class partners within the agriculture industry,” commented Scott Mahoney, CEO of Taronis. “We are actively in dialogue with some of the industry’s most influential leaders in terms of livestock production. We are very pleased to recognize the industry’s heightened focus on sustainability.”
“We believe our technology is an ideal solution for the hog industry in North Carolina as an initial test market for Taronis. The Smithfield Agreement placed an industry-wide limitation for hog populations and production in North Carolina in 2000. That agreement helped limit animal wastes and potential environmental issues, but it did not solve what is becoming a growing health threat. It also could not adequately protect the citizens of North Carolina from the dangerous consequences of hurricanes, flooding and ground water contamination from the waste lagoons that store vast quantities of animal waste.”
“Our technology can solve the waste issue. We can help the industry safely convert costly waste into valuable fertilizers. We can also help the hog industry eliminate waste as a constraint to growth. This can enable the industry to grow, drive jobs, and help the local North Carolina economy while solving one of the most pressing environmental issues in that state today,” concluded Mr. Mahoney.
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/
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.
Released January 27, 2020