Taronis Provides Corporate Update

Thursday, 12. December 2019 15:00

Company Details 2020 Development Goals
For Agricultural Waste Technology

PHOENIX, AZ, Dec. 12, 2019 (GLOBE NEWSWIRE) -- Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ: TRNX), a sustainability technologies company, today announced its key business development goals for its agricultural waste sterilization business in 2020. In addition, the Company provided management’s view on recent capital market activities in relation to these objectives.

First, the Company will look to complete a joint venture for the sterilization of animal waste early in 2020. Specifically, the Company is focused on a joint venture in North Carolina to address the issues related to animal waste produced by the hog industry. North Carolina is the third largest hog producing state in the US today, and this herd generates over 15 million tons of animal waste every year. In fact, under the Smithfield Agreement in 2000, animal waste is the primary limiting factor for the growth and size of the hog industry in North Carolina.

In 2018, Duke University published a report titled “Mortality and Health Outcomes in North Carolina Communities Located in Close Proximity to Hog Concentrated Animal Feeding Operations.” In this report, Duke clearly linked living in close proximity to large scale hog farms with a wide range of health risks, including infant mortality, anemia, kidney disease, tuberculosis, and septicemia. The report further documented that life expectancy within the area of North Carolina that contains the majority of the state’s 2,500+ hog farms is measurably lower than the rest of the state.

Taronis recently completed an 18 month USDA grant funded project that produced clear and compelling validation of its ability to solve several of the critical dangers associated with untreated animal waste. A comprehensive white paper has been submitted to the USDA for technical review. The report documents a number of critical benefits from our technology on animal waste.

First, Taronis has clearly demonstrated the ability to eradicate pathogens, including E coli and fecal coliform. Second, the Company has demonstrated that once sterilized, there is no recurrence in pathogen growth within the sterilized materials. Third, Taronis breaks down complex compounds, including pharmaceuticals commonly dissolved in animal urine. Lastly, the Company documented our ability to measurably reduce harmful metals commonly found in animal waste.

The Company is actively engaged in dialogue with one of the largest hog producers in the US. The Company has proposed a multi-faceted project that would validate the commercialization at scale of its animal waste sterilization technology. This would be accomplished through the deployment of plasma arc sterilization units at scale across North Carolina.

At least two leading universities within North Carolina have been prioritized and have been invited to participate in the project to further validate the health benefits of Taronis’ sterilization process. Lastly, these same universities would independently validate the ability to safely utilize the animal waste streams post-treatment for multiple end agricultural applications, including hydroponic agriculture and fertilizer feedstocks.

“Our team has placed a top priority on launching the highest possible quality joint venture in North Carolina,” commented Scott Mahoney, CEO of Taronis. “We have already had positive and meaningful discussions with one of the leaders in the global hog industry. With the recent epidemic of African swine fever killing almost 6 million hogs worldwide, there is a real need for US hog production to safely fill the demand gap. Our technology can solve the critical gating issue to production growth in North Carolina. We can help the entire state reduce the health and environmental issues related to the disposal of animal waste. In addition, we can help the industry grow safely, providing lasting economic benefits in North Carolina, and eventually everywhere hogs are produced.”

“We recently announced a $25 million convertible preferred offering. We have received many inquiries from shareholders as to why we would contemplate this transaction. First, we believe we can capitalize on a very large economic opportunity solving this waste issue across the global hog industry. We believe this technology is very close to commercial viability, and we want to ensure the Company is financially prepared to support a full scale launch if our prospective industry partner wants to rapidly expand the project.”

“Lastly, we want to take this opportunity to remind all investors that the recently announced offering is deliberately structured so that the Company can service all amortization with cash payments. In addition, the Company has recently provided a series of updates on a $165 million contract under a previously owned subsidiary, Taronis Fuels, which has been successfully spun off and is expected to begin trading in the near term. Management has concluded that the royalties due back to Taronis from the $165 million contract should be able to adequately service the periodic payments for the proposed convertible preferred, thus minimizing any potential dilution.”

“We intend to provide additional updates on all of the other commercial activities of Taronis in the coming days. The completion of the proposed financing is subject to shareholder approval. We expect that our comprehensive updates, combined with material updates related to the $165 million contract under Taronis Fuels will give our shareholders the confidence to approve the proposed financing in due time,” 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 https://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 https://gowaterpilot.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@TaronisTech.com

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