TAMPA, Fla., Dec. 2, 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 Scrappy Thomas Inc. of Mulberry Florida has concluded their analysis using MagneGas for metal cutting as compared to propane. Scrappy Thomas has been a customer since March of 2012 and has confirmed an increase in productivity and reduction in cost using the MagneGas product. This analysis is an important validation for MagneGas of the real value proposition of the product as it was conducted by an independent customer using a true industrial application over an extended period of time.
"MagneGas has been marketing the value proposition of the product based on its own internal analysis for months," stated Ermanno Santilli, CEO of MagneGas. "We are excited about the results coming from an actual customer in the field who wanted to see if what we preach is in fact real. Having a product champion in an independent customer speaks volumes regarding the true value of our fuel."
"Anybody can make a new product sound great but until you use it for yourself it is not proven," stated Debbie Bruce, Account Manager for Scrappy Thomas Inc. "Switching to MagneGas has saved Scrappy Thomas 25-30% overall in cost reductions with increased production. Our liquid Oxygen usage decreased 55% and our propane usage has decreased approximately 80% since using MagneGas. These figures would be higher if all my cutters used MagneGas solely."
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About Scrappy Thomas Inc.
Scrappy Thomas was formed in 1974 by A.J "Scrappy" Thomas and his son-in-law, Ronnie Lewis. A.J. Thomas had been in the scrap business for over 50 years, and their company name is based on his nickname. He acquired the nickname "Scrappy" from one of his best clients. As A.J. Thomas came on the job site to pick up scrap with his straight boom truck, they would call out, "Here comes Scrappy!" Over time he was eventually just known as "Scrappy". Through the years many have called themselves "Scrappy" in an attempt to cash in on the name and reputation of A.J. Thomas. However, there is only one true "Scrappy", and we are proud to have this as our company name. http://www.scrappy-thomas.com
About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: MNGA) is the producer of MagneGas™, 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 Flow™ 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 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