Taronis Technologies Inc (NASDAQ: TRNX) issued yet another positive news release, following up on the strong news issued by the company as of late. Today, the news surrounded an expanded contract with the Holiday Inn, sending the stock up more than 8% early on. Here’s what’s going on:
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TRNX Stock Gains On Expanded Holiday Inn Relationship
As the news flow surrounding Taronis Technologies continues, the company issued yet another press release this morning. In the release, the company announced that the relationship between it’s majority-owned subsidiary, Water Pilot, and a major Holiday Inn franchisee has been expanded.
In the release, TRNX said that the franchisee currently owns 83 hotels across several leading brands and has to do with Water Pilot valve installations. The second of these installations was at the franchisee operated Holiday Inn in Plantation, Florida.
In a statement, Scott Mahoney, CEO at TRNX, had the following to offer:
This is another excellent milestone in the commercialization of our Water Pilot water conservation technology. With 83 locations, this client relationship could scale to upwards of $400,000 in installation fees and annually recurring monitoring fees of $40,000. With two initial pilots, we are very well positioned to convert the entire client relationship to a scaled revenue opportunity.
The Story Is Only Getting Better
At the end of the day, Taronis Technologies has seen a metioric rise in value as of late, and for good reason. It seems like every time we turn around, the company has new positive news for investors.
Today’s news was great. After all, $400,000 in revenue is nothing to shake a stick at, and annual revenue of $40,000 is icing on the cake. However, it’s only one bit of news in a line of positive releases.
Recently, TRNX has issued press releases surrounding record MagneGas production, record revenues, the successful commercialization of its water treatment technology, the sale of millions of dollars worth of Venturi Plasma Arc Gasification units, the spin off of Taronis Fuels, positive news from the NASDAQ, and much more. To check out all the news from TRNX, click here!
Nonetheless, the bottom line here is that we are at a pivotal juncture when it comes to Taronis Technologies, and the company is making all the right moves at the right time. As such, the tremendous gains that we’ve seen from the stock as of late are more than warranted, and will likely continue.
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