TAMPA, Florida, September 18, 2017 /PRNewswire/ --
MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today that the Company has been featured in the September issue of Gasworld, a leading trade publication in the global industrial gas and welding technology industry. This issue focuses on leading green gas and disruptive technologies, and the feature article highlights the advantages of MagneGas2®. The article is available on MagneGas' website at http://magnegas.com/download/gasworld-sept-2017/
"This is yet another key validation in the market acceptance of our MagneGas® product," commented CEO Ermanno Santilli. "Gasworld is one of the most respected sources of trade information and provides insights into the strategic direction of the global industrial gases industry. To be selected to play a leading role for our recent success in the industry is an exciting honor and a great platform for our industry-changing technology. Gasworld was impressed by the value proposition of our gasification units when compared to similarly sized acetylene production facilities. The article highlighted key aspects of the technology including the complete elimination of polluting slurry pits, the complete elimination of dangerous calcium carbide, and the complete elimination of water consumption, all within a 70% smaller footprint. Finally, the article notes that the patented MagneGas gasification system produces the only renewable cutting fuel in the world. We expect to fully leverage the increased exposure resulting from this Gasworld article to win additional clients and build distributor relationships in the coming months."
"The data is beginning to clearly demonstrate the traction MagneGas is gaining in the market," commented Scott Mahoney, Chief Financial Officer of MagneGas Corporation. "We recently reported 50% year-over-year growth in the second quarter of 2017. We then reported record sales results for August 2017 with more than 57% year-over-year growth. Compared to an industry growth rate of 2-3%, we believe these results clearly illustrate our success, and we are pleased that Gasworld recognizes this and chose to feature our company."
About MagneGas Corporation
MagneGas® Corporation (MNGA) owns a patented process that converts various renewables and liquid wastes into MagneGas fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The Company's testing has shown that its metal cutting fuel "MagneGas2®" is faster, cleaner and more productive than other alternatives on the market. It is also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2® into the metal working market as a replacement to acetylene.
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.
The Company distributes MagneGas2® through Independent Distributors in the U.S and through its wholly owned distributor, ESSI (Equipment Sales and Services, Inc). ESSI has four locations in Florida and distributes MagneGas2®, industrial gases and welding supplies. For more information on ESSI, please visit the company's website at http://www.weldingsupplytampa.com.
To be added to the MagneGas investor email list, please email email@example.com 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.
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