American renewable fuel firm to invest $200M in Turkey

DAILY SABAH WITH AA
ISTANBUL
Published 12.01.2020 19:48
AA Photo
AA Photo

The U.S.-based clean technology company Taronis Technologies will establish a facility in Turkey to produce gasification units, the company said in a statement Saturday.

The company offers technology solutions to renewable fuels and sterilization problems by harnessing its proprietary clean gas technology.

Taronis Technologies said 300kW gasification units will be produced in the facility that will be established with an investment of $200 million.

The company in mid-November 2019 announced it launched a Turkish joint venture, Tarronis Fuels Turkey Gaz Enerji Sanayi ve Ticaret Limited Şirketi.

The statement also read that the legal process of the Ankara-based venture has also been completed, and all equipment to be used in production will be supplied from Turkey.

"Turkey's strategic location at the heart of Europe, where the continent meets the old Silk Road trade route, provides competitive access to both European and Asian markets," Scott Mahoney, CEO of Taronis Technologies, said in the statement. "This will give Taronis access to productive markets as it seeks to accelerate the sale of more gasification units to neighboring countries and the rise of sustainable fuels worldwide."

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