TAMPA, Florida, December 17, 2015 /PRNewswire/ --
MagneGas Corporation ("MagneGas" or the "Company") (MNGA) an award winning technology company that counts among its inventions a patented process that converts liquid waste into MagneGas2® fuel, announced today that a lead sub-contractor for a major Kennedy Space Center build-out project has placed their first order for MagneGas2® fuel. The fuel will be used for the metal cutting portion of the project which is anticipated to be significant.
S&R Enterprises LLC, a lead sub-contractor for the $100 + million Kennedy Space Center project that will last approximately 2 years, was first introduced to MagneGas® about 3 weeks ago during a demonstration arranged by a MagneGas partner, Suwannee Ironworks. Suwannee is MagneGas's partner in a MagneGas subsidiary, ESSI of North Florida. ESSI is an industrial supply, gases and safety supplies & products provider.
Immediately after the demonstration, S&R chose to switch to MagneGas2® and requested pricing and training for its personnel (and eventually its sub-contractors). In addition, S&R also chose to purchase their other welding supplies from the Company showing once again that MagneGas2® is a unique differentiator and catalyst for growth in the Industrial Gas Sector.
Josh Collins, Sr. Project Manager of S&R stated: "The demonstration clearly showed us that MagneGas should be our fuel of choice on this, and other, projects. The faster cutting speed and smaller heat affected zone, demonstrated safety attributes and its eco-friendly aspects won us over. We also realized that MagneGas could add dollars to our bottom line, due to the faster speed of the cut, increased productivity, less fuel required… all of which could result in a quicker, less costly completion date!"
"We are extremely excited to begin working at the Kennedy Space Center, the addition of this fantastic organization to our military, fire & rescue and other marquis corporate customers opens up opportunities in aerospace which is constantly driven to the cutting edge of processes, materials and innovation," stated Ermanno Santilli, CEO of MagneGas Corporation. "We also plan on leveraging this new relationship to explore other combustion and fuel opportunities not strictly related to metal cutting."
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About S&R Enterprises LLC
In March of 2003 Stephen C. Burkholder left his place of employment to create a business of his own, he took his years of experience in steel and precast construction and his devotion to safety, quality, and customer service to create S&R Enterprises, a company whose core values would be centered around these ideals. Steve chose S&R headquarters to be located in Central Pennsylvania and aimed for construction in the mid-Atlantic region, he wasn't looking to be the biggest erector in the area but he wanted S&R Enterprises to be revered as the best in safety, quality and customer service. To do this he would employ like-minded people to help his company grow; fourteen years later S&R Enterprises has expanded beyond the mid-Atlantic region to become an international construction company that can erect an array of technical structures from train stations, to conference centers, as well as utility and office buildings always striving to be the best in safety, quality, and customer service. For more information on S&R, please visit the Company's website at http://www.srenterprises.com/
About MagneGas Corporation
MagneGas® Corporation (MNGA). The Company owns a patented process that converts various liquid wastes into hydrogen based fuels. These fuels can be used as a replacement to natural gas or for metal cutting. The Company's testing has shown the fuels are faster, cleaner and more productive than other alternatives on the market. They are also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas® into the metal working market as a replacement to acetylene.
The MagneGas fuel production systems can be set up locally using various types of feedstock. The Company believes this flexibility can give them an advantage in the Government/Military marketplace as fuels can be manufactured on site from raw materials found locally worldwide and eliminates the time and expense of shipping to the specific military theater. The Company is planning to establish joint ventures with third parties to construct these supply facilities worldwide.
The Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas®, please visit the Company's website at http://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 virgin vegetable oil to produce fuel while it configures its systems to properly process waste within local regulatory requirements.
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