MagneGas Expands into Georgia with New Distributor MagneGas Signs Fuel Distribution Contract with Sidney Lee Welding Supply
TAMPA, Fla., April 3, 2014 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a technology company that counts among its inventions a proprietary system that converts liquid waste into a hydrogen-based fuel, announced today that Sidney Lee Welding Supply, Inc ("Sidney Lee") of Hampton Georgia has signed on to distribute MagneGas™ fuel throughout the state. MagneGas plans to ship the fuel from its headquarters in Florida.
"There has been demand for MagneGas fuel from fabrication facilities to scrap yards throughout the state of Georgia," stated Terry Vernille, Executive Vice President of Gas Sales for MagneGas. "We took our time to locate the perfect distributor. With four facilities geographically located to service all of the large industrial areas of Georgia, and plans to grow in the near future while maintaining customer service, we feel Sidney Lee is the right partner for us."
"Having MagneGas to distribute to current and potential customers will give us an advantage over other gas distributors helping us in our future growth," stated Steve Lee, Vice President of Sidney Lee. "We were recommended to take on the product by another Distributor that we have worked with for years. After seeing it for ourselves, we knew this would give us an advantage. Acetylene prices continue to rise and this is a great product replacement."
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About Sidney Lee Welding Supply, Inc.
With four locations in Georgia, the Company was founded in 1968 by Sidney Lee with the goal of providing the best products and the highest level of customer service. Sidney Lee Welding Supply provides high quality brand name welding products, maintains a large inventory, a strong base of welding knowledge, and dependable service to support all welding efforts. www.sidneylee.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