MagneGas Fuel Selected for Four Demolition Projects MagneGas secures projects in Ohio, Michigan, New York, and DC
TAMPA, Fla., March 20, 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 it is providing four demolition projects with MagneGas fuel for their torch cutting. These projects are sourced through existing MagneGas distributors Blue Water Industrial of Michigan and AWISCO Corp of New York. MagneGas fuel will be used in the demolition of a bridge in Washington, DC, automobile manufacturing facilities in Ohio and Michigan and a power plant in New York.
"We are very pleased to be the preferred fuel for cutting on these demolition jobs," stated Executive Vice President of Sales, Terry Vernille. "With the help of two major distributors, Blue Water Industrial and AWISCO Corp, we have the capability of providing our fuel for these key projects. As word continues spreading in the demolition industry about our superior cutting fuel we expect an increased demand around the country."
"Since bringing MagneGas to AWISCO we have gained positive traction in the market," stated Victor Furhman Vice President of Sales and Marketing for AWISCO Corp, "Having the ability to supply a better alternative metal cutting fuel in the market for customers is an added benefit for AWISCO. This customer in New York was already a customer of MagneGas in Florida so it was an easy transition switching them over from acetylene."
"Our customer in Ohio has used MagneGas fuel on multiple job sites already and continues the demand on future projects," stated Steve Olson, Vice-President of Blue water Industrial. "As word continues to get out with the improved production and speed of cut we expect the demand for MagneGas to continue upwards."
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About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: MNGA) is the producer of MagneGasTM, 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