TAMPA, Fla., May 21, 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 a major producer of painting systems, viewed a MagneGas2® demo and has requested an immediate supply of the fuel for metal cutting.
The demo was viewed by company officials on May 19, who indicated they were impressed with the speed and quality of the cut and immediately requested a supply of the fuel. The company has locations in the U.S. and Mexico and produces large paint booths and other ancillary systems for the automotive and aerospace manufacturing industries. The gas will initially be supplied to their location in Michigan.
"We continue to be amazed at the number of companies that have contacted us for MagneGas2 demonstrations. Each company has indicated they are impressed with the quality and speed of our cut and the safety features of the fuel. In the industrial gas business, everything starts with the first order, particularly with a new innovative product such ours. We are confident that this will provide a significant foundation for expansion opportunities," commented Ermanno Santilli, CEO of MagneGas Corporation.
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