Taronis Technologies, Inc. operates as a technology-based company that focuses on addressing the global constraints on natural resources, including fuel and water.
The company’s two core technology applications, renewable fuel gasification and water decontamination/sterilization - are derived from its patented and proprietary Plasma Arc Flow System. The Plasma Arc Flow System works by generating a combination of electric current, heat, ultraviolet light and ozone, that affects the feedstock run...
Taronis Technologies, Inc. operates as a technology-based company that focuses on addressing the global constraints on natural resources, including fuel and water.
The company’s two core technology applications, renewable fuel gasification and water decontamination/sterilization - are derived from its patented and proprietary Plasma Arc Flow System. The Plasma Arc Flow System works by generating a combination of electric current, heat, ultraviolet light and ozone, that affects the feedstock run through the system to create a chosen outcome, depending on whether the system is in ‘gasification mode’ or ‘sterilization mode’.
Gasification Mode
When the Plasma Arc Flow System is in ‘gasification mode’ and the appropriate feedstock is passed through the system in a closed loop with constant recirculation (to achieve the maximum possible gasification rates), it creates a renewable, hydrogen-based synthetic fuel the company calls ‘MagneGas’. The company sells MagneGas as a metal cutting fuel as an alternative product to acetylene, which is the most commonly used metal fuel worldwide, but also happens to be a non-renewable fossil fuel-based metal cutting fuel.
Sterilization Mode
When the Plasma Arc Flow System is in ‘sterilization mode’, the system might process any number of liquified waste streams. In the majority of cases, the company passes the selected waste stream through the system a limited number of times to achieve the maximum sterilization/decontamination effect on the waste stream. Sterilization mode also produces modest amounts of gas as a byproduct. The company’s proprietary combination of electric current, heat, ultraviolet light and ozone has shown an ability to eliminate approximately 99.9% of the Environmental Protection Agency (EPA) and the United Stated Department of Agriculture regulated pathogens, such as e-coli and fecal coliform.
Products
The company has two proprietary products that it markets and sells, which are derived from its core technology. The first is its clean, renewable alternative cutting fuel called ‘MagneGas’, which is sold at its various locations to retail end users as an alternative product to acetylene. The second is the company’s Plasma Arc Flow System, which is marketed for sale and licensure to commercial operators who desire to utilize its technology for gas production (under strict license) or water decontamination and sterilization.
MagneGas Cutting Fuel
The company produces MagneGas, which primarily includes hydrogen and created through a patented protected process. The fuel could be used as an alternative to acetylene and other natural gas derived fuels for metal cutting and other commercial uses. After production, the fuel is stored in hydrogen cylinders, which are then sold to market on a rotating basis. Independent analyses performed by the City College of New York and Edison Welding Institute have verified that MagneGas cuts metal at a significantly higher temperature and faster than acetylene, which is the most commonly used fuel in metal cutting. The use of MagneGas is identical to acetylene (it merely requires a different welding tip and a regulator). The company has sold to approximately 30,000 customers in the public and private sectors.
Plasma Arc Flow System
The company uses its Plasma Arc Flow System to make MagneGas, but it has the ability to gasify majority of forms of liquids and liquid waste, such as used vegetable, soybean or motor oils, certain types of liquified biomass, ethylene glycol and could be used to sterilize bio-contaminants in waste and decontaminate water. The Plasma Arc Flow System forces a high-volume flow of liquid waste through a submerged plasma arc existing between carbon electrodes, a process, which sterilizes the bio-contaminants within the waste without requiring any chemical disinfecting agents. The Plasma Arc Flow System also releases a clean burning fuel as a byproduct of the decontamination and sterilization process, which could be used to offset some energy consumption. Because the company’s Plasma Arc Flow Systems are available in various sizes from 50kW to 500kW, they are applicable to various end-users, including large consumers of cutting fuels (construction companies, shipbuilders, heavy industry) who desire a safer, renewable, and alternative to acetylene and propane, producers of contaminated waste streams (commercial manufacturers, farming operations, chemical producers, etc.) who either desire to or are mandated by law to treat agricultural, pharmaceutical, industrial or manufacturing waste streams prior to release into the ecosystem and local, state or federal governments, desirous of decontaminating water sources or reclaiming waste water that is otherwise unusable.
Strategy
The company strives to be a leading clean technology company. The company seeks to accomplish this through commercialization of its existing proprietary products, and research and development to improve upon these products and discover new products or applications.
Distribution and Sales Network
The company distributes and sells its MagneGas fuel, other gases and welding supplies at its retail locations in Florida, Louisiana, Texas and California through a select network of independent welding supply distributors. The company uses its retail industrial gas and welding supply subsidiaries as a platform to accelerate MagneGas fuel sales into regional markets. The company’s Plasma Arc Flow System is distributed directly by the company and marketed and/or sold through a network of international brokers.
Research and Development
The company’s research and development expense was $11,032 for the year ended December 31, 2018.
Patents and Trademarks
The patents related to ‘Plasma Arcs’ are the company’s key patents. In addition to the issued United States patents, the company has various patents pending. The company owns various the U.S. patents, such as the U.S. Patent No. 6,183,604 - DURABLE AND EFFICIENT EQUIPMENT FOR THE PRODUCTION OF A COMBUSTIBLE AND NON-POLLUTANT GAS FROM UNDERWATER ARCS AND METHOD THEREFOR. Filing Date: August 11, 1999 – Issue Date: February 6, 2001; the U.S. Patent No. 6,673,322 - APPARATUS FOR MAKING A NOVEL, HIGHLY EFFICIENT, NONPOLLUTANT, OXYGEN RICH AND COST COMPETITIVE COMBUSTIBLE GAS AND ASSOCIATED METHOD. Filing Date: June 29, 2001 – Issue Date: January 6, 2004; the U.S. Patent No. 6,663,752 – BURNING LIQUID FUEL PRODUCED VIA A SELF-SUSTAINING PROCESSING OF LIQUID FEEDSTOCK. Filing Date: October 3, 2001 – Issue Date: December 16, 2003; the U.S. Patent No. 6,926,872 - APPARATUS AND METHOD FOR PRODUCING A CLEAN BURNING COMBUSTIBLE GAS WITH LONG LIFE ELECTRODES AND MULTIPLE PLASMA-ARC-FLOWS. Filing Date: December 7, 2001 – Grant Date: August 9, 2005; the U.S. Patent No. 6,972,118 – APPARATUS AND METHOD FOR PROCESSING HYDROGEN, OXYGEN AND OTHER GASES. Filing Date: December 14, 2001 – Issue Date: December 6, 2005; the U.S. Patent No. 7,780,924 – PLASMA-ARC-FLOW APPARATUS FOR SUBMERGED LONG LASTING ELECTRIC ARCS OPERATING UNDER HIGH POWER, PRESSURE AND TEMPERATURE CONDITIONS TO PRODUCE A COMBUSTIBLE GAS. Filing Date: June 26, 2006 – Issue Date: August 24, 2010; the U.S. Patent No. 8,236,150 – PLASMA-ARC-THROUGH APPARATUS AND PROCESS FOR SUBMERGED ELECTRIC ARCS. Filing Date: July 1, 2010 – Issue Date: August 7, 2012; the U.S. Patent No. 9,433,916 - PLASMA-ARC-THROUGH APPARATUS AND PROCESS FOR SUBMERGED ELECTRIC ARCS WITH VENTING. Filing Date: May 28, 2014 – Issue Date: September 6, 2016; the U.S. Patent No. 9,700,870 - METHOD AND APPARATUS FOR THE INDUSTRIAL PRODUCTION OF NEW HYDROGEN-RICH FUELS. Filing Date: April 3, 2014 – Issue Date: July 11, 2017; the U.S. Patent No. 10,100,416 - PLASMA-ARC-THROUGH APPARATUS AND PROCESS FOR SUBMERGED ELECTRIC ARCS WITH VENTING. Filing Date: August 8, 2016 – Issue Date: October 16, 2018; and the U.S. Patent No. 10,189,002 - APPARATUS FOR FLOW-THROUGH OF ELECTRIC ARCS. Filing Date: October 31, 2014 – Issue Date: January 29, 2019.
The company also owns record for the registered trademarks ‘MAGNEGAS’, ‘VENTURI’, ‘MAGNEGAS2’, ‘MAGNETOTE’ in the United States; ‘MAGNEGAS’ and ‘MAGNEHYDROGEN’ in Mexico; ‘MAGNEGAS’ in Australia and New Zealand.
Significant Events
In November 2019, Taronis Technologies, Inc. announced the formation of a new joint venture within the Republic of Turkey. The new Turkish company is called Taronis Fuels Turkey Gas Enerji Sanayi ve Ticaret Limited Sirketi.
In December 2019, Taronis Technologies, Inc. announced that the company, together with Taronis Fuels, have successfully completed all of the requirements to form Taronis Fuels Turkey Gas Enerji Sanayi ve Ticaret Limited Sirketi, a joint venture between Taronis Fuels and a commercial consortium based in Ankara.
Governmental Regulations
The company is regulated by the United States Department of Transportation and state transportation agencies in the method of storage and transportation of its fuels and by the EPA and state environmental regulatory agencies with regards to the processing of waste.
The company is also regulated by the Occupational Safety and Health Administration and comparable state statutes that regulate the protection of the health and safety of workers.
History
The company was founded in 2005. It was incorporated in 2005. The company was formerly known as MagneGas Corporation and changed its name to MagneGas Applied Technology Solutions, Inc. in 2018. Further, the company changed its name to Taronis Technologies, Inc. in February 2019.
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
