Taronis Technologies Inc (NASDAQ: TRNX) is running for the top early on in the trading session this morning, and for good reason. The comapny announced that it has received a new patent, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The patent news;
- what we’re seeing from TRNX stock; and
- what we’ll be watching for ahead.
TRNX Climbs On Patent News
As mentioned above, Taronis Technologies is having a strong start to the trading session this morning after announcing patent news. In a press release issued ealry this morning, the company said that it had been awarded a new patent from the United States Patent and Trademark Office.
In the release, TRNX said that the patent surrounds the company’s 3rd generation Venturi submerged plasma arc design. As a result of the new patent, the company’s total IP portfolio now includes 17 active United States and international patents.
In a statement, Scott Mahoney, CEO at TRNX, had the following to offer:
This new patent is very valuable to our future operations for several reasons. The technology covered under this patent involves the use of a Venturi effect design, which enables us to actively manage the rate of flow of a fluid through our submerged plasma arc. This is a key element of our current generation of gasification technology, as it impacts the residence time of materials in the area of heat produced by the plasma arc and allows for a highly efficient gasification process. This ability not only enables our commercialized gasification process, but is a critical aspect of our emerging decontamination business model as well.
Most importantly, our patented Venturi design was one of the primary factors that enabled our team to drive down our gas production costs by 88% in the past five years. Securing this patent ensures that we will protect one of our core competitive advantages for many years to come.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. When it comes to Taronis Technologies, the news proved to be overwhelmingly positive.
The truth is that investors like to see strong patent protection for products that are manufactured and distributed by companies in which they invest. With the improving patent portfolio, it only makes sense that excited investors are pushing the stock on a run for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:33), TRNX is trading at $0.76 per share after a gain of $0.035 per share or 4.80% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a clos eye on TRNX. In particular, we’re interested in following the company’s continued work to expand its product and IP portfolio as well as improve sales and return value to investors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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