Taronis reported over 100 percent year-over-year sales growth in its clean fuel and water sterilization alternatives.
Taronis (NASDAQ:TRNX), a cleantech company focused on fuel and water purification technologies announced that for the month of September, it reported US$1.75 million in sales. With 22 locations, sales increased over 100 percent compared to the same time last year, with Texas and Louisiana markets posting the strongest gains.
As quoted in the press release:
The fastest growing market for Taronis in September was the combined Texas and Louisiana market, which produced just over $0.78 million in sales for the month. This was a fivefold increase when compared to the $0.12 million generated for the same month in 2018. Much of this growth was attributed to five acquisitions the Company has made in the region in the last twelve months.
The two locations previously branded under Green Arc Supply were the only operations that were owned in both periods, and those stores saw an increase of 47% in same store sales. Overall, the region has been highly receptive to the increased MagneGas marketing efforts; with several new client wins that are expected make the new Flint, Texas MagneGas production plant highly profitable by year end.