MagneGas Adds Several New Customers Following Increased September Sales Efforts Successful execution of business plan leads to increased marketshare
TAMPA, Fla., Oct. 16, 2012 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel, announced today that it signed several new customers in September, including:
- Ambassador Services
- Capital Scrap LLC
- Complete Fleet
- East Coast Scrap Metals
- Go Green Recycling
- John's Famous Auto
- Sarno Scrap
- Snyder Steel
- The Recycling Center
- Triton Welding
"We are very pleased with the results of our sales efforts and the continued traction MagneGas fuel is gaining in the marketplace," said Scott Wainwright, President of MagneGas. "The vast majority of customers who receive a demonstration of our product show a strong interest in making the switch to MagneGas, which is safer, greener and cuts faster than any other metal cutting fuel available."
"MagneGas is such an incredible new product, unlike any other in the market," commented Ian Meldeau, Managing Partner of Cut It Up. "As a distributor, we, at Cut It Up, are excited to exclusively offer MagneGas as it differentiates us by setting new standards for metal cutting gas."
"It is very satisfying to watch lifelong professional metal cutters try their hand at cutting with MagneGas, flip up their face shields and give us two thumbs up with a big smile," said Ermanno Santilli, CEO of MagneGas. "As the MagneGas value proposition continues to be demonstrated, new customers and distributors, such as Cut It Up, will continue to benefit from our safer, greener and more productive metal cutting fuel."
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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. MagneGasTM 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 until proper permits to process used liquid waste have been obtained.
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