TAMPA, Fla., Aug. 10, 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, this week announced that it continues the testing of its advanced co-combustion technology to reduce coal emissions.
One week after President Obama again proclaimed greenhouse gas emissions to be, "The biggest threat to America's future," MagneGas Corporation announces it is continuing of its MagneGas2® fuel being used in a co-combustion environment. Initial internal testing demonstrated a significant reduction in greenhouse gas emissions and a greater efficiency in burning coal. Testing and validation is now in advanced stages with oversight from a well-respected coal technology research center that is associated with one of the nation's largest Utility companies.
Most experts agree that for the foreseeable future, coal, which produces upwards of 46 percent of the world's electrical power at approximately 7,000 coal fired power plants, will remain a strategically important resource for both power and jobs around the world. However, the industry has been plagued by the fact that burning coal produces harmful emissions and the release of vast quantities of CO2, a powerful greenhouse gas. At the same time, coal has proven to also be an extremely inefficient source of energy. While legacy technologies deal with emissions from coal fired power plants using complex pollution control systems, MagneGas' new technology transforms the coal flue gas or smoke into a fuel by igniting it using MagneGas2® which itself is produced from renewable sources of liquid waste.
"In America, China and around the world greenhouse gas emissions are taking center stage and the need to reconcile a plentiful resource such as coal with the need to protect the environment is creating a major debate. Testing has consistently demonstrated that using MagneGas2® in a co-combustion environment will produce a significant reduction in emissions and could make the abundance of coal as a usable resource more acceptable again," said Ermanno Santilli, CEO, MagneGas Corporation. "We are working closely with our Joint Venture partners in the U.S. and Australia to complete the pilot phase and we anticipate the conclusion of our testing by year's end. We fully expect the results to continue to be significant in terms of coal burning efficiency, reduction of greenhouse gases and overall business potential for MagneGas."
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.
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
SOURCE MagneGas Corporation