CORAL SPRINGS, Florida, May 29, 2015 /PRNewswire/ --
Company Selected By Major Steel Construction Company In Western U.S.
The global welding & metal cutting products industry such as high-velocity oxy-fuel equipment utilizing acetylene undergo major advancements by being replaced by new generation hydrogen based fuels that are driving new opportunities for Industrial, Commercial & Transportation applications. Innovative Biofuel, Hydrogen Base Fuel Production Companies in focus today are: MagneGas Corporation (NASDAQ: MNGA), Praxair, Inc. (NYSE: PX), FuelCell Energy, Inc. (NASDAQ: FCEL), Golar LNG (NASDAQ: GLNG) and Gevo, Inc. (NASDAQ: GEVO).
MagneGas Corporation (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 construction company in California has selected MagneGas® fuel to replace acetylene and has placed their first order. The construction company has been operating for over twenty years in three states with projects in steel, drywall and carpentry. They selected MagneGas® for their metal cutting due to the quality of the cut and the fuel's reduced environmental impacts. MagneGas anticipates that additional orders will be placed in the coming weeks for multiple construction projects.
Read the full MNGA news release at http://www.financialnewsmedia.com/profiles/mnga.html
MagneGas Corporation 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.
In other biofuels and hydrogen based fuel production news and happenings: Praxair, Inc. (NYSE: PX) announced earlier this month it has signed a long-term contract with Gerdau in India for the supply of gaseous oxygen to the company's blast furnace in Tadipatri, Andhra Pradesh. Gerdau is the largest long steel producer in the Americas and one of the leading suppliers of special long steel in the world. Praxair will build, own and operate an 80 tons per day non-cryogenic vacuum-pressure-swing-adsorption plant, which is expected to start up in 2016. Gerdau's steel facility has an installed capacity to produce 300,000 tons of special steel per year, primarily for automotive, defense, railways and related industries.
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 this week affordable on-site generation of high purity hydrogen for transportation and industrial applications using commercial fuel cell power plants. A megawatt-scale FuelCell Energy hydrogen delivery system can generate more than 1,200 kilograms of hydrogen per day, suitable for larger industrial applications or adequate to power a fleet of more than 1,500 fuel cell cars while also producing two megawatts of ultra-clean electricity. The hydrogen and power is generated in a low carbon manner when operating on natural gas, or is carbon neutral when utilizing renewable biogas as the fuel source.
Golar LNG (NASDAQ: GLNG) announced in early May that it has commenced discussions with partners Keppel and Black & Veatch aimed at exercising an option, under an existing framework agreement, for the ordering of a third GoFLNG unit similar to the Hilli and the Gimi. The specific objective of these discussions will be to mature the option to deliver a third unit for start-up in 2018 i.e. between the target on-stream dates of 2017 and 2019 for the first two units destined respectively for Cameroon and Equatorial Guinea.
Gevo, Inc (NASDAQ: GEVO) announced this year it has developed potentially disruptive new technologies that use ethanol as a feedstock to produce hydrocarbons, renewable hydrogen, and other chemical intermediates. "The process produces tailored mixes of isobutylene, propylene, hydrogen and acetone, which are valuable as standalone molecules, or as feedstocks to produce other chemical products and longer chain alcohols," Gevo said in a statement. "This new technology has the potential to address additional markets in the chemicals and plastics fields, such as renewable polypropylene for automobiles and packaging and renewable hydrogen for use in chemical and fuel cell markets." GEVO closed up over 16% at $3.60 on over 3Million shares traded by the market close on Thursday.
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