TAMPA, Florida, July 19, 2016 /PRNewswire/ --
MagneGas Corporation ("MagneGas" or the "Company") (MNGA) a leading technology company that counts among its inventions a patented process that converts renewable and waste liquids into MagneGas2® fuel, announced today that the successful results of its recent testing of its developmental wastewater sterilization equipment have moved the Company a step closer to entering the septic water treatment market.
In June and July, the Company deployed its 50 KW mobile sterilization system at a Florida septic wastewater treatment facility. Initial results of the processed samples analyzed by an independent laboratory indicate significant reductions in pathogens. Additionally, these preliminary results are indicating reductions in Nitrogen, Phosphorus, and Potassium. MagneGas will continue to test at this facility during the next few weeks and will be providing a final report to the waste treatment facility, based on the analysis of the independent laboratory, by the end of August.
The Florida Department of Environmental Protection estimates that 1/3 of Florida residents use septic systems for disposal of their wastewater. Septic waste is generally collected and treated by privately owned corporations. The Company believes that the barriers to entering this market will be lower than the municipal government owned sewage treatment facilities. Further information regarding this market can be found at this link:
Ermanno Santilli, CEO of MagneGas Corporation stated: "We are pleased with the progress our recent testing has shown. The Company has been developing equipment to sell to waste processing facilities for some time. We are steadily moving closer to actively entering this market. In Florida alone, one third of all residents use a septic system for disposal of their wastewater. There are significant challenges faced by the corporations retained to treat this waste and we believe MagneGas has a better alternative. To that end, we will continue to pursue this market through additional testing, collaboration and marketing."
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 MagneGas2®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 and eliminates the time and expense of shipping to the specific end user location. The Company is planning to sell the equipment or establish joint ventures with third parties to construct these supply facilities.
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 MagneGas2® 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