TAMPA, Florida, October 15, 2015 /PRNewswire/ --
MagneGas® Corporation ("MagneGas®" or the "Company") (NASDAQ: MNGA) announced today that Piners Welding Supply of Napa California ("Piners") a major supplier to the metal cutting and steel demolition markets in Napa, will begin distributing MagneGas2® immediately.
Piners will supply the Company's MagneGas2® fuel in Napa and its surrounding metropolitan areas. Piners is a leading supplier of gases for industrial, winery, medical and hobby purposes in the Napa Valley area. The gas will be supplied by MagneGas partner Placer Power Inc., also of California, the Company's main distribution supplier to the West Coast markets.
"We continue to increase our penetration in California through several new distributors on the West Coast. The overwhelming feedback has been positive regarding the MagneGas2 attributes including ease of use and of speed of cut. After a simple demo of our gases versus the traditional acetylene or propane fuels, it's an easy decision for distributors to begin selling our product. The long term plan for Placer is to begin the manufacturing of fuel here locally, after which time we expect strong penetration in the area and recurring revenue to be significant," commented Chris Dupont, CEO of Placer Power.
Piners is a leading supplier of gases for industrial, winery, medical and hobby purposes in the Napa Valley area, covering Napa, Sonoma, & Solano counties. They are a carrier of full line welding equipment, gases, & accessories.
About MagneGas Corporation
MagneGas® Corporation (NASDAQ: MNGA). The key asset that MagneGas has and that sets it apart from competitors is that the Company owns a patented process that converts various liquid waste 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 their fuels are renewable, eco friendly, faster, cleaner and more productive than other alternatives on the market. They are also cost effective and safe to use with little changeover.
The latest innovation, MagneGas 2®, has a higher temperature than other alternatives. MagneGas 2® also cuts faster and cleaner with little to no slag and uses less oxygen, with the potential to increase productivity and reduce costs for users. The Company currently sells MagneGas2® into the metal working market as a replacement to acetylene.
Another of the Company's market advantages is that their waste conversion facilities can and are being set up in locations close to where the end user needs the fuel. Currently, the fuel is produced in the USA as opposed to, for example, acetylene, which is made from calcium carbide imported primarily from China and other countries. The Company believes this flexibility can give them a noted 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 military theater.
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.
To be added to the MagneGas® investor email list, please email [email protected] with MNGA in the subject line.
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