TAMPA, Florida, January 28, 2016 /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 MagneGas® fuel, announced today that Condotte America, Inc. ("Condotte") has selected MagneGas2® fuel as its fuel of choice for metal cutting. Condotte conducted extensive testing of MagneGas2® under various conditions, has placed their initial orders and has indicated their intention to switch all metal cutting operations to MagneGas2®.
Condotte specializes in the construction of complex transportation projects that include roadway, bridges, interchanges, mass transit, and tolling facilities. Condotte has completed an extensive list of high profile projects in Florida for the Florida Department of Transportation (FDOT), the Miami-Dade Expressway Authority (MDX), and several Miami Dade County agencies: from the Acosta Bridge Project in Jacksonville, FL to projects throughout the Eastern US, including the Chesapeake and Delaware Canal Bridge in Wilmington, Delaware and the Sidney Lanier Bridge Project in Brunswick, Georgia. In addition, Condotte has expanded its market reach beyond the US boundaries, establishing ventures in Panama and El Salvador, where they continue to build quality projects for new customers.
"The application of the MagneGas system is very compatible with the existing steel cutting equipment we currently own, with the added economic advantages and the fuel cylinder handling safety," stated Condotte Safety Manager Robert Sullivan, P.E. "Our research with other fuel to oxygen steel torch cutting systems indicates that the MagneGas system is superior in cost, cylinder handling, and fuel safety. The ability to manufacture and supply the MagneGas system in aluminum tanks significantly reduces the weight and potential lifting injuries over alternative systems. The lighter than air physical properties of the gas significantly reduces the real world potential of pooling explosive gas."
"Condotte believes that innovative technologies, such as the MagneGas system, are only worthwhile if they can result in a positive operational advantage. Investing in the time and resources to investigate and implement innovative ideas and technologies is well worth the improved efficiency, increased productivity, improved cost management, and above all, the safety of our workers," according Mr. Sullivan. "MagneGas provided several site demonstration visits to Condotte where our employees had the opportunity to use the system and directly compare it to their acetylene systems. The unanimous consensus of the welders was that the MagneGas system is a far superior cutting system - leaving the cost analysis to the corporate accountants. In the words of the Condotte Fleet Manager, Dairo Gomez, "This MagneGas system is a no-brainer."
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About Condotte America
Condotte America, Inc. specializes in the construction of complex transportation projects that include roadway, bridges, interchanges, mass transit, and tolling facilities. In short, they build the roads and bridges that connect our families, our communities, and our nation.
Condotte has completed an extensive list of high profile projects in Florida for the Florida Department of Transportation (FDOT), the Miami-Dade Expressway Authority (MDX), and several Miami Dade County agencies: from the Acosta Bridge Project in Jacksonville, FL to the truly remarkable signature bridge projects throughout the Eastern US, including the Chesapeake and Delaware Canal Bridge in Wilmington, Delaware and the Sidney Lanier Bridge Project in Brunswick, Georgia. In addition, Condotte America has expanded its market reach beyond the US boundaries, establishing ventures in Panama in and El Salvador, where they continue to build quality projects for new customers.
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 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® 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 and eliminates the time and expense of shipping to the specific location. 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. The Company is currently using virgin vegetable oil to produce fuel while it configures its systems to properly process waste within local regulatory requirements.
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