TAMPA, Fla., Aug. 7, 2012 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (OTCBB: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced today that the Company has entered into an agreement with Scrappy Thomas, Inc. ("Scrappy Thomas") to provide MagneGas™ fuel for metal cutting. MagneGas will ship the fuel from its Tarpon Springs, FL headquarters to Scrappy Thomas's facilities in Mulberry, FL.
"Scrappy Thomas is a family-owned business that prides itself on offering high-quality metal recycling, salvage and demolition services to Central Florida at a competitive cost. Finding the right metal-cutting fuel is crucial to fulfilling our mission," stated Brian Lewis, President of Scrappy Thomas. "After extensive testing, we found MagneGas™ cuts metal quickly and cleanly while reducing the environmental impact. It not only exceeded our expectations with its superior metal cutting properties, but it will also help us lower operating costs."
"MagneGas is delighted to work with Scrappy Thomas to help meet its metal cutting needs," said Ermanno Santilli, CEO of MagneGas. "Scrappy Thomas's reaction to our product mirrors what we have seen and heard from other scrap yard operators throughout the country. MagneGas has spent the first half of this year showing the metal cutting industry that we have a superior metal working gas. We look forward to working with Scrappy Thomas and others to continue to demonstrate our fuel's capabilities."
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About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (OTCBB: 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 antifreeze, vegetable oil and 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