Taronis Fuels, Inc. Announces Board and Executive Changes
June 09, 2021 at 08:43 am EDT
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On June 3, 2021, Taronis Fuels, Inc. appointed Kevin Foti as the company’s President, effective June 14, 2021, and as a member of the Board, effective immediately following the closing of the Private Placement on June 4, 2021. Tobias Welo, who has served as the Company’s interim President since April 10, 2021, will step down from his duties as interim President on June 14, 2021 and continue as Chairman of the Board. Mr. Foti, has over 30 years of experience in the industrial gas business with Praxair, Inc. /Linde PLC, where he most recently served as President of the U.S. industrial gas merchant and on-site business from September 2015 through December 2019. On June 3, 2021, Thomas Wetherald and Peter Molloy each notified the Company of his resignation from the Board, effective December 31, 2021. Neither Mr. Wetherald’s resignation nor Mr. Molloy’s resignation was the result of any disagreement regarding any matter relating to the Company’s operations, policies, or practices.
Taronis Fuels, Inc. is a renewable fuel and power generation company. The Company manufactures and distributes industrial, medical, specialty and beverage gases and associated welding and safety supplies through its subsidiary, MagneGas Welding Supply. The Company operates over 15 retail locations and two gas fill plants. The Companyâs gas fill plants create industrial, medical, specialty and beverage gas products that are distributed to its wholesale and retail customers. The Company also supplies its customers with products ranging from bulk quantities of cryogenic gases to individual packaged gas cylinders. The Company has a diversified customer base in both the wholesale and retail markets. The Company has the expertise, assets and sources of supply necessary to service large, bulk cryogenic gas customers as well as small one-man businesses.
TARONIS FUELS, INC. 
