Taronis Successfully Delivers Final USDA Presentation
Critical Step in Water Technology Commercialization
PHOENIX, AZ, Feb. 13, 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 it successfully delivered its final technical briefing to the United States Department of Agriculture (“USDA”) on February 12, 2020. The Company recently completed an 18-month technical validation of its water decontamination technology, which was funded in part by a USDA grant for the sterilization of animal waste. The grant funded an 18-month study conducted at a large-scale dairy operation in central Florida that was successfully completed in September of 2019.
As part of the presentation, the Company delivered its final report on the highly successful independent validation of the efficacy of using a Venturi plasma arc sterilization unit to eradicate pathogens, break down virus-based contaminants and remove harmful metals from animal waste slurries.
In addition, the Company presented a proposed new opportunity for the USDA to fund a commercial pilot project to address the hog waste produced, specifically in North Carolina which is the third largest hog producing market in the United States today. Taronis also proposed the incorporation of multiple leading universities in the region as part of the project. The objective would be for the universities to independently validate the ability to safely recover and reuse animal waste waters for hydroponic applications and use animal waste solids for crop fertilization.
Lastly, Taronis sought guidance from the USDA on the process of becoming an approved vendor on the USDA best practices list. Vendors on this list are pre-approved for federal subsidized sales of equipment into the US agricultural industry. This would enable Taronis to market its equipment to the industry at a potentially dramatically reduced cost to the end user clientele.
“The successful conclusion of our USDA project culminated with a highly productive debrief with the USDA in Washington, D.C.,’” commented Scott Mahoney, CEO of Taronis. “We now have further clarity on the next steps we can explore in order to benefit from the USDA as a potential added resource as we look to formalize a commercial joint venture to support the agricultural waste generated by the hog industry in North Carolina.”
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 February 13, 2020