TAMPA, Fla., Jan. 14, 2014 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), the developer of a technology that converts liquid waste into hydrogen-based fuels, announced today that Welder Services Inc. or (WSI) of Fort Wayne Indiana has signed on to distribute MagneGas™ fuel throughout the state.
"Partnering with WSI allows MagneGas to focus its reach on a state with heavy industry that is a great fit for MagneGas fuel," stated Terry Vernille, Vice President of Sales for MagneGas. "WSI has the reach and customer base we are looking for to properly introduce our alternative fuel to the market in Indiana."
"Partnering with MagneGas will give us the added benefits to compete with larger companies who do not have access to this fuel," stated Dan Pontius, GM of Welding Services Inc. "We are always trying to improve as a company by providing our customers with the most up to date technology on the market."
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About Welding Services Inc.
Welders Services, Inc. was founded in 1975 by its current President, Daniel Mulhern, with major emphasis at that time on the sale and repair of welding equipment and supplies. Welder Services, Inc. continued growing into a major player in the industrial and medical gas spectrum in the Fort Wayne and surrounding area. Its actions in the past have led it to become one of the largest, most complete independent welding distributors in Indiana. http://www.welderservices.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