New Executive Brings Over 35 Years Accounting, Finance Experience
PHOENIX, AZ, Dec. 28, 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 appointment of Ed Fred as the Company’s new Chief Financial Officer. Mr. Fred has over 35 years of accounting, finance, and capital markets experience, primarily in the aerospace, manufacturing, and consumer goods industries.
Mr. Fred began his career within the accounting department at Borden in 1980. In 1981, Mr. Fred began to increasingly focus on international accounting, first with Sterling Drug, and then for more than a decade with Grumman International. At Grumman, Mr. Fred was promoted through progressively greater responsibilities and roles, departing from Grumman as Controller and Director of Finance in 1995. Upon departing Grumman, Mr. Fred was appointed CFO, then CEO of CPI Aerostructures, serving there from 1995 to 2014. After retiring from CPI, Mr. Fred was the CEO of Orion Acquisition Corp, a publicly listed special purpose acquisition vehicle (“SPAC”) from 2014 to 2018.
Mr. Fred is a former member of the American Stock Exchange Listed Company Policy Council. He is also a former member of the New York Stock Exchange Listed Company Policy Council. Mr. Fred is a graduate of Dowling University and received his Master’s in Business Administration from Hofstra University.
“We are very pleased to announce Mr. Fred’s appointment as our Chief Financial Officer,” commented Scott Mahoney, CEO of Taronis Fuels. “Mr. Fred brings a wealth of knowledge and leadership across accounting, finance, and the capital markets. We look forward to partnering together as we head into 2021 with a number of near-term milestones at hand.”
“Mr. Fred not only brings many years of experience to the team, but he is also highly familiar with Taronis itself. For over a year, Mr. Fred has been engaged by Taronis Fuels to facilitate various regulatory aspects of our spin-off from our former parent company. Most notably, Mr. Fred played a lead role in our listing process, satisfying all regulatory and compliance requirements set forth by FINRA and the OTC Markets. It was his key involvement that made our spin-off successful.”
“Equally importantly, Mr. Fred has extensive up-listing experience, particularly with the New York Stock Exchange. As a lead advisor throughout the up-listing application process, Mr. Fred has personally reviewed hundreds of pages of Taronis’ corporate documents. He has seen virtually every contract, all relevant Securities Exchange Filings, and support for key press releases. He has a long-standing and strong working relationship across our team. With such depth and breadth of insight into our Company, I firmly believe Mr. Fred is well-positioned to hit the ground running and assist the Company to deliver its strategy.”
“I look forward to personally introducing shareholders to Mr. Fred at our upcoming shareholder town hall, which will be announced shortly for the second half of January to discuss the preliminary results of operations for 2020, and our outlook for 2021,” 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.
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