CORAL SPRINGS, Florida, September 13, 2016 /PRNewswire/ --
The opportunities for revenue growth in alternative fuels continue to multiply as developments, advancements and increasing demand push natural gas operations, alternative energy opportunities and hydrogen production technology forward. Today's market watch issued for alternative fuel/energy companies with recent developments and news include Xfuels Inc. (OTC: XFLS), MagneGas Corporation (NASDAQ: MNGA), FuelCell Energy, Inc. (NASDAQ: FCEL), Clean Energy Fuels Corp. (NASDAQ: CLNE) and Westport Fuel Systems Inc. (NASDAQ: WPRT).
Xfuels Inc. (OTC: XFLS) is pleased to report it has signed an LOI (Letter of Intent) to merge Hydration Company of PA into its subsidiary Converde Energy USA Inc. (XFUL). Mr. Michael McLaren states "The addition of a water treatment technology is something that Xfuels has been exploring for some time to improve our bottom line." He further stated "We are excited to integrate this low cost technology into our Coal Water Slurry (CWS) systems and into the Natural Gas production and maintenance programs."
Read the full Xfuels (XFLS) Press Release at: http://financialnewsmedia.com/profiles/xfls.html
Mr. Brad Domitrovitsch Chairman & CEO of HCPA states "This combination is the next logical step in the evolution of Hydration," Mr. Domitrovitsch further stated "Not only does it provide Hydration with entrance into the Oil & Gas Industry but even more importantly it gives HCPA access to the capital markets." Post-Merger Xfuels will retain a control block of preferred shares as well as access to the company's patent pending water treatment technologies. Xfuels will not retain any common shares of the company. The merger is expected to be complete within the next 60 days.
In other Alternative Fuels/Energy performances and developments in the markets of note are:
MagneGas Corporation (NASDAQ: MNGA) closed up over 3% at $0.63 by the market close on Monday. MagneGas, a leading technology company that counts among its inventions a patented process that converts renewable and waste liquids into MagneGas2® fuel, announced yesterday that its innovative industrial gas MagneGas2® will be used by one of the nation's largest recycling and waste disposal companies.
FuelCell Energy, Inc. (NASDAQ: FCEL), a global leader in the design, manufacture, operation and service of ultra‐clean, efficient and reliable fuel cell power plants, announced the completion of construction and commercial operation of a megawatt-class fuel cell power plant at the Riverside Regional Water Quality Control Plant in Riverside, California. The project is structured so that the City of Riverside pays for power produced achieving immediate operating cost savings without any capital outlay and in a manner that supports the City's sustainability goals.
Clean Energy Fuels Corp. (NASDAQ: CLNE) closed up slightly on Monday at $4.52 trading over 4.5 Million shares by the market close. Clean Energy fuels last month announced that it had been selected as a supplier to provide natural gas upgrades to facilities in Cummins Inc.'s Distribution Business Unit across North America. This will allow Clean Energy to assist Cummins with their continued support for natural gas vehicle implementations.
Westport Fuel Systems Inc. (NASDAQ: WPRT) also closed up slightly on Monday at $1.43 on just over 390000 shares traded my the market close. Westport Fuel Systems believes that the cost advantage of natural gas will increase. According to industry estimates, full compliance with the proposed standards will add several thousand dollars to the cost of vehicles running on conventional fuels.
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