TAMPA, Fla., July 16, 2014 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading technology company that counts among its inventions a patented process that converts liquid waste into a hydrogen-based fuel, announced today that it has launched a second-generation cutting fuel at the 2014 Ironworkers Instructor Training Program held in Ann Arbor, Michigan.
Independent tests were performed with MagneGas® 2 by EWI, a leading engineering and technology company which services the heavy manufacturing, defense, aerospace, automotive, oil & gas, and advanced energy industries. Tests performed on track-based cutting systems showed that, in comparison to acetylene, MagneGas® 2 had 38% faster cutting speeds on 2" carbon steel and about a 34% reduction in oxygen consumption. MagneGas® 2 showed even better results when compared to propane.
MagneGas® 2 is a rich mix of gases resulting in a lower flow rate and a flame that behaves like legacy cutting fuels such as acetylene. This reduces or eliminates the need for retraining of staff thereby lowering changeover costs. Additionally, MagneGas® 2 can be used for brazing and welding making it a complete replacement for flame applications of acetylene and propane.
"MagneGas just raised the bar again with a new and even better cutting fuel that will cut costs, increase efficiency, and act as a safe gas replacement when compared to acetylene and propane," stated Terry Vernille, Executive Vice President of MagneGas. "Customers who have seen it are amazed with the new MagneGas® 2 fuel. Let's hear what our customers and distributors have to say."
"The new MagneGas® has increased our cutting speed by 40%, provides a much cleaner cut, far less smoke than propylene. Also it has reduced our oxygen usage by 35%." Kurt Peterson, Elenbaas Steel Supply
"We tried the new version of MagneGas® in May. I noticed a much faster preheat and cutting speed. I am looking forward to using this cutting fuel when it is released." Dick Clark, Hoekstra Truck Equipment
"I have been demonstrating the new MagneGas® for a few months now. I have had extremely positive feedback from everyone who has used the product. Cutting speeds have been increased from 30% to as much as 50% on burning tables. Oxygen usage has been reduced 30% to 70%. MagneGas® creates significantly less smoke and provides a plasma quality cut with an oxy-fuel torch." Gary Jensen, Outside Sales. GTW Supplies (MagneGas Distributor)
"We at MagneGas are proud that our R&D efforts are progressing in all business lines and that we now can offer customers an even faster and better cutting fuel sourced from non-hazardous renewable wastes," commented Ermanno Santilli, CEO of MagneGas. "In addition, the fact that tests at EWI have confirmed that MagneGas® 2 can be used to cut at higher travel speeds and lower oxygen consumption levels compared to competitive products is in line with our strategic objective of engaging with reference organizations in target industries to certify the MagneGas value proposition."
To learn more about MagneGas® 2 please visit: www.burningthecompetition.net
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About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: MNGA) is a technology company that counts among its inventions a patented process that converts liquid waste into hydrogen based fuels. The Company currently sells MagneGas® into the metal working market as a replacement to acetylene. It 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 www.MagneGas.com.
Founded in 1984, EWI is a nonprofit engineering and technology organization dedicated to advanced materials joining and allied technologies, state-chartered in Ohio, USA. EWI staff provide materials joining assistance, contract research, consulting services and training to manufacturing companies in the aerospace, automotive, defense, energy, government, heavy manufacturing, medical and electronics industries. Approximately 150 employees staff the Institute. EWI holds numerous patents for various materials joining and manufacturing technologies. www.ewi.org
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.
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SOURCE MagneGas Corporation