TAMPA, Florida, April 20, 2016 /PRNewswire/ --
MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading energy and technology company that counts among its inventions a patented process that converts liquid waste into MagneGas® fuel, today announced that its cutting fuel is being used by Sub-Contractor Suwannee Iron Works & Fence for the construction of two hotels on Clearwater Beach, Florida. Both hotels are nationally recognized names and will involve major steel construction.
Steel fabrication contractor and current Magnegas2® customer, Suwannee Iron Works & Fence, was brought in to help with the steel construction portion of these projects. They specifically demanded MagneGas2® fuel for its unique properties including cut speed and safety. MagneGas2® will be used to prepare the steel for installation.
"We are pleased to have been selected as the fuel of choice for these important projects. Our customer requested MagneGas® fuel primarily due to the speed of its cut, which means increased productivity, less grinding and steel work. Suwannee Iron Works & Fence has been a long time customer and we are grateful to be part of these projects. This customer continues to come back to us for MagneGas® fuel for their critical projects." commented Ermanno Santilli, CEO of MagneGas Corporation.
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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 that 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® fuel 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 which 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.
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.
KCSA Strategic Communications Philip Carlson +1-212-896-1233 firstname.lastname@example.org
SOURCE MagneGas Corporation