TAMPA, Fla., Oct. 29, 2013 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based fuel, announced today that the Special Operations Team of the Clearwater Fire & Rescue Department has selected MagneGas as its preferred cutting fuel. As part of its overall strategy to grow fuel sales, the Company has identified fire departments and first responder units as ideal customers for the use of its gas due to the speed of the MagneGas cut and concentration of the heat affected zone. Clearwater Fire & Rescue Department is the first such customer.
"Clearwater Fire & Rescue has adopted MagneGas as its preferred primary metal cutting fuel. It is easy to use, safer than conventional fuels, and has excellent metal cutting properties. It also fits seamlessly into our green initiatives program. For those reasons we are looking forward to the use of this new innovative product," stated Special Operations Fire Chief, Kent Watts.
"The Clearwater Fire & Rescue Department conducted several comparison training exercises and found MagneGas to be superior on multiple levels including safety, speed and versatility. The reduced heat affected zone from our cut means the fire department can use the fuel for extractions with less impact on human life in the vicinity of the cut. This is a critical benefit of our fuel for these markets," stated Bryan George, Senior Vice President Sales & Distributor Relations for MagneGas.
Although the revenue from this fire department is not expected to be significant, the third party endorsement that this new customer provides from a quality and safety perspective is expected to generate additional customers in the gas sales market.
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About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: MNGA) is the producer of MagneGasTM, a natural gas alternative and metal working fuel that can be made from certain industrial, municipal, agricultural and military liquid wastes following the receipt of appropriate governmental permits.
The Company's patented Plasma Arc FlowTM process gasifies liquid waste, creating a clean burning hydrogen based fuel that is essentially interchangeable with natural gas. MagneGas can be used for metal working, cooking, heating, powering bi-fuel automobiles and more. For more information on MagneGas, please visit the Company's website at www.magnegas.com.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The Company is currently using new ethylene glycol to produce fuel.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
SOURCE MagneGas Corporation