TAMPA, Fla., May 27, 2015 /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 AB&I Foundry is now using MagneGas2® for fabrication and repairs at its Oakland, California facility. MagneGas distributor, TriCo Welding Supplies Inc. will be sourcing the fuel through MagneGas partner Placer Power, LLC. both California based.
AB&I Foundry produces quality cast iron soil pipe and fittings for drain, waste and vent (DWV) plumbing systems. They are a McWane, Inc. company based in California. McWane is a global leader in water distribution and infrastructure with 28 subsidiary companies world-wide. Company officials have indicated that they have chosen MagneGas2® due to its safety features and enhanced efficiency. MagneGas® will initially be supplied to the California AB&I location, but plans to solicit expansion into other locations and subsidiary companies.
"We have an internal pollution control contest at AB&I, and I'm confident MagneGas will help me to be a contender that can win due to its safety features, reduced emissions and increased efficiency," stated Mike Olvera, AB&I Foundry Environmental Manager.
About AB&I Foundry, Inc.
AB&I Foundry produces quality cast iron soil pipe and fittings for Drain, Waste and Vent (DWV) plumbing systems. In addition, AB&I manufactures custom gray iron castings for OEM manufacturers. AB&I steadfastly adheres to ethical standards of business and adheres to quality standards for our products.
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.
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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.
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SOURCE MagneGas Corporation