TAMPA, Fla., Nov. 5, 2013 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based fuel, announced today that AWISCO Corporation of Maspeth, New York has signed as a distributor selling MagneGas™ fuel in New York, New Jersey and Connecticut. AWISCO has taken its first delivery of 700 MagneGas cylinders and plans on distributing the fuel to various industries including fire & rescue units, demolition companies, construction companies and bridge repairers.
"I am thrilled with the opportunity of introducing this innovative fuel gas to our marketplace and look forward to growing our distribution relationship with MagneGas," stated AWISCO President Lloyd Robinson. "MagneGas is the most significant new product in oxy-fuel gas technology in fifty years and is the first fuel gas that is not only safe, clean and fast but also environmentally friendly," he added.
"We've demonstrated exceptional speed, cleanliness and cutting quality of MagneGas to the Iron Worker's Union as well as government agencies and their response has been overwhelmingly positive," said Victor Fuhman, AWISCO Vice President of Sales. "MagneGas is truly environmentally friendly and the source stock virtually inexhaustible," Fuhman concluded.
"Joining forces with AWISCO, a premium distributor for the fabrication market, allows MagneGas to expand our reach, covering a large and expanding region in the North East," stated Bryan George, Senior Vice President Sales & Distributor Relations for MagneGas. "We are very excited about the growth potential with this new relationship, and look forward to a steady increase in new customers with a quality business partner in the region."
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Serving the New York Metropolitan area since 1979, AWISCO Corp. is a leading distributor of compressed gases, welding, safety and industrial supplies. AWISCO has 7 locations in New York, Connecticut and New Jersey.
About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: MNGA) is the producer of MagneGas™, a natural gas alternative and metal working fuel that can be made from certain industrial, municipal, agricultural and military liquid wastes following the receipt of appropriate governmental permits.
The Company's patented Plasma Arc Flow™ process gasifies liquid waste, creating a clean burning hydrogen based fuel that is essentially interchangeable with natural gas. MagneGas can be used for metal working, cooking, heating, powering bi-fuel automobiles and more. For more information on MagneGas, please visit the Company's website at www.magnegas.com.
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 new ethylene glycol to produce fuel until proper permits to process used liquid waste have been obtained.
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