Taronis Technologies gets $20M from Turkish government for renewable fuel joint venture

In Turkey, Taronis Technologies finalizes a new joint venture entity with a goal to build 100 of Taronis’ patented 300KW Venturi Plasma Arc gasification units for the production of MagneGas metal cutting fuel to serve the Turkish domestic metal cutting market, which, according to Turkish government estimates, is approximately a $200 million annual market.

The new entity, called Taronis Fuels Turkey Gas Enerji Sanayive Ticaret Limited Şirketi is being launched in partnership with MC Consulting Teknoloji Enerji Danişmanlik Sanayi ve Ticaret Limited Şirketi and has received the support of the Turkish Government, which will initially invest approximately $20 million in the venture.