TAMPA, Florida, February 2, 2016 /PRNewswire/ --
MagneGas Corporation ("MagneGas" or the "Company") (MNGA) a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas2® fuel, announced today that a joint venture partner of the Company, Suwannee Ironworks, Inc. ("Suwannee") was hired by a lead sub-contractor on the NASA project for a major Kennedy Space Center build-out project. The project is part of a two year $100 Million plan to modify the Vehicle Assembly Building for the Space Launch System. Suwannee will become the second sub-contractor in the project to use MagneGas2® as their fuel of choice.
Suwannee was hired to handle fabrication products and repairs. It will purchase 100% of its supplies from ESSI of North Florida. ESSI is an industrial supplier of gases and safety supplies and a subsidiary of MagneGas Corporation. With this contract, Suwannee became the second contractor in the project that has chosen to make MagneGas2® its fuel of choice for its role in the $100 Million project.
MagneGas had previously disclosed, in a December 17, 2015 press release, that S&R Enterprises LLC, a lead sub-contractor for the $100 Million Kennedy Space Center project, was first introduced to MagneGas® during a demonstration arranged by Suwannee Ironworks. Immediately after the demonstration, S&R chose to switch to MagneGas2® and requested pricing and training for its personnel (and eventually its sub-contractors). In addition, S&R also chose to purchase their other welding supplies from the Company showing once again that MagneGas2® is a unique differentiator and catalyst for growth in the Industrial Gas Sector.
"We are extremely excited to have our joint venture partner be chosen as a sub-contractor for NASA at the Kennedy Space Center in Florida. We hope that even more sub-contractors on the project will come to see the benefits of using our fuels and utilizing our supply systems," stated Ermanno Santilli, CEO of MagneGas Corporation.
"Our present associations with companies are across a wide spectrum, providing a superior fuel for specific purposes, but our hope is that this connection with the aerospace industry may also lead to our becoming involved with new lines and new fuel products unrelated to the present uses of our fuel." concluded Ermanno Santilli, CEO of MagneGas Corporation.
To be added to the MagneGas investor email list, please email firstname.lastname@example.org with MNGA in the subject line.
About Suwannee Ironworks
Suwannee Ironworks and Fence was founded in 1990. The Company supplies and installs products from Maine to Hawaii and from Puerto Rico to Alaska. With over 40 years of experience. The Company's goal is to provide clients with the highest quality in fabrication and fencing needs. Their top priority is quality work and personal service no matter how big or small the project may be. Suwannee Iron Works & Fence fabricates and installs structural steel framing and miscellaneous components involved in building large and small commercial and industrial projects such as Office Buildings, Department Stores and Warehouses throughout the United States. Their designers, engineers, and fabricators regularly work with carbon steel, stainless steel, aluminum, titanium, and magnesium. Their sister company, Suwannee Fence also supplies installs chain link, wroth iron, PVC & wood fencing custom built to the project. They have built a reputation on quality workmanship and integrity in all aspects of business. They are proud of their longevity and expect to maintain their status as a leader in the custom steel fabricating industry.
About MagneGas Corporation
MagneGas® Corporation (MNGA). The Company owns a patented process that converts various liquid wastes 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 the fuels are faster, cleaner and more productive than other alternatives on the market. They are also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas® into the metal working market as a replacement to acetylene.
The MagneGas fuel production systems can be set-up locally using various types of feedstock. The Company believes this flexibility can give them an 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 is planning to establish joint ventures with third parties to construct these supply facilities worldwide.
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.
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