Taronis Fuels Appoints Edward J. Fred as Interim Chief Executive Officer

Rhea-AI Summary

Taronis Fuels, Inc. (TRNF) has appointed Edward J. Fred as its interim CEO, following the voluntary resignation of Scott Mahoney. Fred, who also retains his role as CFO, has a proven track record in public company leadership, including a prior role as CEO of a NYSE-listed aerospace company. His expertise is expected to support Taronis' growth strategies. The company is focused on providing renewable and safe fuel alternatives, significantly safer than acetylene, aligning with sustainability goals.

Positive

• Appointment of Edward J. Fred as interim CEO expected to bolster leadership and growth initiatives.
• Fred's extensive experience in public companies may provide valuable insights for Taronis' future direction.

Negative

• Resignation of former CEO Scott Mahoney raises concerns about leadership continuity and potential strategic shifts.

PHOENIX, AZ, April 05, 2021 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, is pleased to announce the appointment of Edward J. Fred as its Interim Chief Executive Officer.

Mr. Fred has extensive experience leading publicly traded companies. He was previously, for a twelve year period, the CEO of a publicly-traded aerospace company listed on the NYSE – American Exchange. Mr Fred was named the Company’s Chief Financial Officer in December, 2020, and will continue to hold the CFO title until such time as a replacement is appointed. We believe his years of public company leadership will benefit Taronis as we go forward and implement our growth strategies.

Bob Dingess, Chairman of the Company, commented, "Edward has provided exceptional vision and leadership to Taronis since his appointment as Chief Financial Officer, and he is ideally suited to lead the Company's next phase of growth. We are fortunate to have him serve the company in this expanded capacity as Chief Executive Officer."

The Company's former CEO, Scott Mahoney, voluntarily resigned as CEO and as a Board member, both with immediate effect. He will continue to serve in a consulting role during a transition period.

About Taronis Fuels, Inc.

Taronis Fuels, Inc. is a global producer of renewable and socially responsible fuel products. Our goal is to deliver environmentally sustainable, technology driven alternatives to traditional fossil fuel and carbon-based economy products. We believe our products offer a vastly cleaner solution to legacy acetylene and propane alternatives.

Taronis is also dedicated to providing fundamentally safer solutions to meet the industrial, commercial and residential needs of tomorrow’s global economy. Our products have been rigorously tested and independently validated by global gas authorities as vastly safer than acetylene, the most dangerous industrial gas in use today.

Lastly, we strive to deliver products that offer significant function superiority at a reduced cost to the end consumer. Through these efforts, we support 9 of the 17 United Nations Sustainable Development Goals. For more information, please visit our website at www.taronisfuels.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@Taronisfuels.com

FAQ

Who is the new CEO of Taronis Fuels?

Edward J. Fred has been appointed as the interim CEO of Taronis Fuels.

What background does Edward J. Fred have?

Edward J. Fred has extensive experience leading publicly traded companies, including a prior role as CEO of a NYSE-listed aerospace firm.

Why did Scott Mahoney resign from Taronis Fuels?

Scott Mahoney voluntarily resigned as CEO and board member, but will assist in a consulting role during the transition.

What is Taronis Fuels' business focus?

Taronis Fuels specializes in renewable fuel products and aims to provide safer alternatives to traditional fuels.