TAMPA, Fla., June 30, 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 partner Placer Power LLC in California has placed their first order and expect the delivery of 676 cylinders the 2nd week in July. Placer has already landed their first distributor TriCo Welding Supplies Inc., who covers the Greater Sacramento area.
"Getting the gas in the hands of customers out west that are big in fabricating, but also work in a state focused on a green initiative, will prove big for MagneGas® and our credibility," stated Terry Vernille, Executive Vice President of Sales for MagneGas®. "We are proud to have TriCo Welding Supplies Inc. join the MagneGas® family through our partner Placer Power LLC."
"Placer Power LLC is very pleased to work with TriCo Welding Supplies Inc. on our first order of MagneGas® and believe there will be many more orders to come in the short term," stated Chris Du Pont, President Placer Power LLC. "We have already demoed MagneGas® for potential distributors and customers in California, Northern Nevada, and Southern Oregon with nothing but positive responses after they see the superior performance of MagneGas® vs. their currently used metal cutting gases."
"TriCo Welding Supplies Inc. is excited to have the opportunity to be the exclusive distributor of MagneGas® in the Greater Sacramento area," stated Joe Knieriem, one of the owners of TriCo Welding Supplies Inc., "Being able to exclusively offer a superior product like MagneGas® will give us an advantage over our competitors. We expect MagneGas® to be a vital offering to significantly gain more market share and retain current customers."
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About TriCo Welding Supplies, Inc.
The owners of Trico are Leroy Paulucci, Robert (Bob) Baker and Joseph (Joe) Knieriem. They have over 86 years of combined experience in the welding supply industry. The Trico partnership has been serving customers in the Greater Sacramento area for over 16 years. www.tricowelding.com
About Placer Power LLC
Placer Power LLC is a California Company formed to be a wholesaler of MagneGas® and related hard goods. More information can be found at the Company's website http://placerpower.com.
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.
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