TAMPA, Fla., May 12, 2014 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), an energy and technology company that counts among its inventions a patented process that converts liquid waste into a hydrogen-based fuel, today announced that its cutting fuel was used to swiftly and safely remove four 70-ton steel girders from an intersection blocking traffic traveling between Tampa and Clearwater. Two tractor trailers collided with a steel girder supporting the overpass, closing the area to traffic. Authorities reported that more than 60,000 vehicles per day use the intersection and therefore demanded that traffic be returned to normal in 24 hours or less.
Demolition contractor and current MagneGas® customer, Sonny Glasbrenner, Inc., was brought in to help demolish the structure. They specifically demanded MagneGas® fuel for this project due to its unique properties.
"MagneGas® played a crucial role to ensure we could safely and efficiently cut out the bridge girders. The girders posed a unique problem in that they were coated with fire retardant coating and layers of paint that made it difficult to cut with traditional acetylene torches. Fortunately, last year we were introduced to MagneGas® and we were able to use it to cut apart this steel and open this crucial intersection," stated Daniel Krajacic, Production Manager at Sonny Glasbrenner.
"We made multiple deliveries of MagneGas® to deal with the situation. First of all we are pleased that nobody appears to have been hurt and proud that MagneGas® was part of the solution to re-open this critical Clearwater-Tampa connection," said Ermanno Santilli, CEO, MagneGas.
For pictures of the accident site with MagneGas in use visit this link: http://magnegas.com/bridge-cutting-pictures/
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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 is also selling 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