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Tech Capital Provides $10MM Asset-Based Line of Credit to Taronis Fuels

November 19, 2020, 08:10 AM
Filed Under: Energy

Tech Capital, the asset-based finance company and wholly owned subsidiary of Tech CU, announced it has provided a $10 million asset-based revolving line of credit to Taronis Fuels, Inc., a publicly traded company based in Peoria, Arizona and a global producer of renewable and socially responsible fuels. The loan will support Taronis Fuels’ expansion and development.

The loan represents Tech Capital’s continued focus on providing innovative, customer-centered solutions to growing companies across the United States and is one of Tech Capital’s largest loans to date.  

“We believe in partnering with our clients and providing flexible lending solutions so they can pursue opportunities for growth. I’m pleased we were able to do just that for Taronis Fuels,” said Joe Anzalone, Managing Director of Tech Capital, LLC. “This loan arrangement with Taronis Fuels is an excellent example of how we work to design a structure that uniquely fits the needs of our clients.”

“This loan allows us to accelerate growth by providing working capital to support our acquisition and expansion strategies,” said Scott Mahoney, CEO of Taronis Fuels. “As an innovation leader in clean-fuel alternatives, it made sense to partner with an innovation leader in the financial industry. Tech Capital understands our mindset and our needs, and they have tailored a credit facility that will grow with us.”

Tech Capital provides asset-based loans in fast-growing, cutting-edge industries including IT, software, and cleantech. The company is known for its flexibility and creativity in setting up loan structures in collaboration with clients.  It is a wholly owned subsidiary of Tech CU, a top-performing credit union and industry-leader now nearing $2 billion in funding for sustainable energy in the form of home residential solar systems.

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