TAMPA, Florida, June 17, 2016 /PRNewswire/ --
MagneGas® Corporation ("MagneGas®" or the "Company") (NASDAQ: MNGA) a leading technology company that counts among its inventions a patented process that converts renewable and waste liquids into MagneGas2® fuels, announced today that the Company has signed a Distribution Agreement with Berger Welding Supply of Indiana ("Berger") adding another key distributor to the Company's growing list of distributors across the United States. Under the terms of the agreement, Berger will be the Company's preferred distributor for MagneGas2® for metal cutting in their territory and to a local major customer.
"Berger is a locally owned and operated welding and farm supply company that strives to bring to market cutting edge, innovative products. When we tested MagneGas2, we quickly saw that this product has the potential to revolutionize the welding industry. It was an easy decision for us to become the preferred distributor of MagneGas2 in our area. We are truly excited at some of the major customers that have taken an interest in this product and are looking forward to great success with MagneGas," stated Ben Berger, Vice President, Berger Welding Supply.
"We specifically targeted this location for distribution of our product due to the large opportunities available in this area. With this relationship, we continue to execute on our strategy of adding key distributors and marquee customers across the US. Our pull through strategy continues to progress as MagneGas2 customers request our product from their local distributor. MagneGas2 has shown time and again, that its unique attributes impress new distributors and their clients. We are happy to welcome Berger to the growing MagneGas family of distributors," stated Ermanno Santilli, CEO of MagneGas Corporation.
About MagneGas Corporation
MagneGas® Corporation (MNGA). The Company owns a patented process that converts various renewable and waste liquids into hydrogen based fuels. These fuels can be used as a replacement to natural gas or for metal cutting. The Company's testing has shown the fuels are faster, cleaner and more productive than other alternatives on the market. They are also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2® into the metal working market as a replacement to acetylene.
The MagneGas® fuel production systems can be set-up locally using various types of feedstock. The Company believes this flexibility can give them an advantage as fuels can be manufactured on site from raw materials found locally which can potentially eliminate the time and expense of shipping. The Company is planning to establish joint ventures with third parties to construct these supply facilities worldwide.
The Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas®, please visit the Company's website at http://www.MagneGas.com.
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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 virgin vegetable oil to produce fuel while it configures its systems to properly process waste within local regulatory requirements.
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