TAMPA, Fla., April 14, 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, today announced that it has expanded its local market by becoming a full line supplier of industrial gases, hard goods, safety gear and welding consulting services. The Company now offers multiple products and services to MagneGas customers in Florida, thereby increasing its potential revenue base and satisfying local customer requests.
"Over the past four months we have further developed the market with sales of hard goods, gases, and safety gear and we have seen a steady increase in revenue," stated Terry Vernille, Executive Vice President of Sales for MagneGas. "Coming from the industry, I know this will help us gain respect from our peer competitors. It shows we understand the industry which I believe will help us sell MagneGas™ to other distributors. "
"Terry is a great management team member and has opened numerous doors for MagneGas, helping us to form key partnerships with suppliers so we can stay competitive in the market," stated Ermanno Santilli, CEO of MagneGas. "One major item we now offer is welding consulting and certification services, something increasingly rare in the welding industry. We believe that the combination of our unique MagneGas cutting gas, welding consultation capability and hard goods offering will take our gas sales to the next level."
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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