Successfully Executes $20 Million in Unit Sales
PHOENIX, AZ, Sept. 14, 2020 (GLOBE NEWSWIRE) — Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today provided a corporate update on recent international business developments related to an existing contract in the Republic of Turkey. Most importantly, the existing $18.75 million, five-unit purchase order was formally approved and released by the Turkish authorities, and the order has been modified to $20 million to account for additional design specifications unique to the Turkish market. All five units are currently in production, with the first units projected for shipment in January of 2021.
Beginning on August 23rd, a technical and engineering team from Taronis was deployed for over two weeks in Ankara. The team was able to successfully commission a mobile 50KW Venturi plasma arc gasification unit at its new location in Gazi, on the southwest outskirts of Ankara. The unit was officially commissioned by technical and legal representatives from the Turkish Ministry of Finance and Trade on August 30, 2020.
On September 3rd, the Company jointly hosted a commissioning and ribbon-cutting ceremony at the facility in Gazi. The event was widely attended by government officials, representatives from the majority of the industrial gas companies in Turkey, as well as a select group of prospective buyers of the gasification units both