CORAL SPRINGS, Florida, May 20, 2016 /PRNewswire/ --
With an increasing amount of companies turning to alternative fuels for greener and more efficient options, hydrogen fuel uses are steadily becoming more mainstream for chemical production, welding & cutting and other Commercial & Industrial applications. Research and development has led to replacements to traditional fuel sources like acetylene pushing technological advancements of hydrogen based fuels.
MagneGas® Corporation (NASDAQ: MNGA) a leading technology company that counts among its inventions a patented process that converts renewable and liquid waste into MagneGas2® fuels, announced today that Complete Welding and Cutting Supplies, Inc. with multiple locations in California and Mexico will be distributing MagneGas2® and has taken its first order of fuel. As a result of this distributor, and others already in place in other areas, MagneGas2® fuel is now available in most major California metropolitan areas.
Read the full MagneGas (MNGA) Press Release at http://www.financialnewsmedia.com/profiles/mnga.html
"We are excited to welcome our first international gas supplier for MagneGas2. We recently visited their locations in Mexico and were pleased to hear the positive feedback received from local customers. Mexico has grown to be a major manufacturing hub for heavy industry. These types of customers use large amounts of acetylene fuel and we are pleased to offer an alternative that is renewable, cuts faster and has many favorable attributes." stated Ermanno Santilli, CEO of MagneGas Corporation.
In other alternative energy/hydrogen fuel/chemicals industry news and happenings: Clean Energy Fuels Corp. (NASDAQ: CLNE) (Clean Energy or the Company) earlier this month announced operating results for the first quarter ended March 31, 2016. The Company delivered 77.5 million gallons in the first quarter of 2016, a 3% increase from 75.2 million gallons delivered in the first quarter of 2015. Revenue for the first quarter of 2016 was $95.8 million, a 12% increase from $85.8 million for the first quarter of 2015. Revenue for the first quarter of 2016 included $6.4 million of excise tax credits for alternative fuels (VETC) whereas the first quarter of 2015 did not include any VETC revenue. Additionally the Company's renewable natural gas deliveries favorably impacted revenue in the first quarter of 2016.
In response to increasing customer demand, Air Products (NYSE: APD) has launched a Hydrogen Services Business as part of the company's Customer Plant Support organization. The new Hydrogen Services Business formalizes something Air Products has been doing for decades-employing the company's operational excellence to help customers improve the reliability and productivity of their own hydrogen plants. "Air Products has been reactively providing service on customer-owned hydrogen plants for more than 30 years," said Kevin Michaelis, vice president, Products and Technology-Industrial Gases, at Air Products. "We have seen such market pull that we are proactively packaging our technical knowledge and experience into an offering that can help customers run their hydrogen plants more effectively, as well as solve operational issues."
Eastman Chemical Company (NYSE: EMN) announced it has entered into a definitive agreement with Solvay to sell its interest in the Kingsport, Tennessee, cellulose acetate flake joint venture named Primester. Eastman and Solvay are currently equal partners in the joint venture. The transaction allows Eastman to eliminate costs associated with the excess cellulose acetate flake capacity of the joint venture. "Last fall Eastman completed a small capital investment to increase flake capacity at our Tennessee Eastman manufacturing site in Kingsport," said Scott Ballard, vice president and general manager of Eastman`s Fibers segment. "With this expansion and last year`s shut down of our Workington, UK acetate tow site, it is no longer necessary for Eastman to support the fixed costs of Primester to have sufficient cellulose acetate flake capacity to reliably supply all of our tow capacity around the world, including the entirety of our Korea and China joint ventures."
Praxair, Inc. (NYSE: PX), a leading global industrial gas company, announced this month that it has been named to DiversityInc's 2016 list of 25 Noteworthy Companies for Diversity. This distinction is awarded to companies that have shown continued momentum in diversity and inclusion practices. Praxair was also ranked third on the list of Top 10 Companies for Opportunities, which recognizes companies demonstrating fairness in hiring, retention and nurturing of diverse talent. DiversityInc is a leading magazine whose mission is to bring education and clarity to the business benefits of diversity. The publication considered more than 1,000 companies that were judged on four equally weighted areas: Talent Pipeline, Equitable Talent Development, CEO/Senior Leadership Commitment and Supplier Diversity. Each company's rank was measured by objective analysis of 183 separate factors, based on data from a 300-question survey. Additionally, DiversityInc considered other efforts and indicators of commitment that the organization believed were noteworthy.
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