Adds Significant Finance and Industry Experience to Board
PHOENIX, AZ, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced the Company has expanded its Board of Directors, adding two new seats. The Company has filled those seats with Mary Pat Thompson, its newly appointed CFO, and Tobias Welo, one of the Company’s largest shareholders.
Mr. Welo will serve as a newly appointed independent Director. He brings to the board a wealth of capital markets knowledge and experience based on his twenty years as a portfolio fund manager. Most notably, Mr. Welo managed $8 billion in assets across the Industrial and Material sectors at Fidelity Management & Research where he worked for thirteen years and served as sector leader for the global cyclical team for twelve years.
In addition to Fidelity, he worked at Black Rock, Boston Partners, and T. Rowe Price as both an equity analyst and assistant portfolio manager. He also worked for three years as a management consultant at Coopers & Lybrand Consulting. Mr. Welo is a Chartered Financial Analyst (CFA) and earned his Bachelor’s Degree from Pomona College and his Masters in Business Administration in finance from The Wharton School at the University of Pennsylvania.
Ms. Thompson also brings an impressive track record in corporate finance and accounting to the newly expanded Board of Directors. Prior to joining Taronis, Ms. Thompson was most recently the CFO of MWI, a leading distributor of animal health products to veterinarians and livestock producers, with $4 billion in annual revenue. Under her leadership, MWI was named to the Fortune 100’s fastest growing companies lists for 2009-2013.
Ms. Thompson began her career with Arthur Andersen in auditing and accounting services from 1985 to 1989. Ms. Thompson graduated Summa Cum Laude from the University of Idaho with a B.S. in accounting and is a licensed Certified Public Accountant in Idaho.
“We are pleased to announce the expansion of our Board, and the nomination of Mary Pat and Tobias. They bring tremendous knowledge, experience, and perspective to Taronis,” commented Scott Mahoney, CEO of Taronis Fuels.
“Tobias brings a unique perspective, with his specialized knowledge as a world-class investment manager focused on industrial companies across the United States for many years. He has seen firsthand hundreds of business models like ours that executed their business plans well. His counsel and input on the direction we take as we look to execute our own ambitious growth objectives will be greatly valued by our entire Board.”
“We are also very excited to have Mary Pat join our Board. As the newest addition to our executive team, we are highly confident that she can play a critical role in leading our finance and accounting team as we look to expand geographically, scale organically, and execute our acquisition strategy going forward.”
“Lastly, we believe these two very high caliber additions to our Board will be viewed very favorably during our uplisting application process. This should only improve our ability to complete the uplisting process in a timely and orderly fashion,” concluded Mr. Mahoney.
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/
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.