TAMPA, Fla., Aug. 28, 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 AccuGas, LLC from Jackson, Michigan has signed an agreement to become a distributor selling MagneGas™ fuel to the Southern region of Michigan. The agreement with AccuGas is part of a broader MagneGas strategy to focus on selling fuel through independent regional distributors.
"Our partnership with AccuGas allows MagneGas to effectively and efficiently penetrate the Southern Michigan market," stated Bryan George, Senior Vice President Sales & Distributor Relations for MagneGas. "We are excited about the growth prospects with AccuGas, and look forward to a long and prosperous relationship."
"It is always our goal to provide our present and new customers the opportunity to evaluate and use products that will enhance their gas cutting and heating operations. We feel that with our newly created alliance with MagneGas, we can provide customers a product that offers not only a highly efficient process, but achieves their goals with creating a greener, cost-effective method. This product is something truly rare that can meet all that criteria," stated Mark Poupard, Owner of AccuGas. "It has been a real pleasure and we welcome our alliance to demonstrate a truly exciting product in our market area that fits so many of our customer needs."
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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