TAMPA, Florida, November 6, 2015 /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, as a result of the successful presentation of the company's technology to the attendees at the Construction Industry Institute ("CII") Board of Advisors meeting, it has received requests from several prominent member companies to hold further individual, in-depth meetings, presentations and demonstrations. The meeting was held on November 3, 2015 in Bonita Springs, FL with top-level executives from multiple major companies.
The CII is a consortium of over 130 companies from the public and private sectors with a focus on increasing sustainability of capital facility life cycles by researching innovative initiatives across relevant industries. MagneGas was an invited speaker and did not pay for the engagement. While the names of the companies requesting additional meetings must remain confidential by agreement with the CII, they include domestic and international companies, many of them NYSE listed.
In all, executives from over 100 companies are members of CII and those include:
U.S. Department of Commerce
U.S. Department of Energy
Koch Industries, Inc.
Shell Global Solutions US, Inc.
Occidental Oil & Gas Corporation
SABIC-Saudi Basic Industries Corporation
Midwest Steel, Inc.
The specific companies that requested additional demonstrations and presentations include industries such as concrete and steel erection, fabrication, structural services; natural gas, pipelines and liquids; heavy industrial construction, engineering and renewables; marine construction and engineering; concrete construction from commercial offices to power plants and renewable energy facilities.
Some of the markets these companies serve include, but are not limited, to the following:
- Airport Hangars
- Airport Terminals
- Assembly Plants
- Automotive Paint
- Correctional Facilities
- Offshore Construction, Fabrication & Maintenance
- Pipe Lines
- Power Generation
- Pump Stations
- Rack Structures
- Steel Mill
- Water Purification Systems
- Wind Farms
The CII Board of Advisors is the governing body of the Institute and pre-screens and performs research and activities that are of high priority to its member companies. For a full list of attendees and the agenda, please go to: https://www.construction-institute.org/boa/2015Fall/index.cfm
The CII is an organization whose objectives are to improve the safety, productivity and environmental impact of the Construction Industry by discussing the best and newest techniques, technologies and systems available. The vast majority of their members currently use acetylene and were interested hearing about MagneGas2® as a safer, faster and more economical replacement.
A team consisting of CEO, Ermanno Santilli, Executive Vice President, Jack Armstrong, and Assistant Vice President of Sales, Spyro Vassiliou, conducted the presentation and discussed how MagneGas2® addresses the objectives of CII members with improved safety, productivity and cost reductions.
"We were very pleased to be invited to the prestigious CII Board of Advisors meeting in the first place and frankly, with their focus on improving the safety, productivity and environmental impact in construction and other fields we couldn't have been presenting to a better organization and audience," commented Ermanno Santilli, CEO of MagneGas. "I was impressed that immediately after the presentation several organizations had already spoken with their headquarters about MagneGas and we received numerous requests for demonstrations. The meeting yielded very positive results and many opportunities for the company."
To be added to the MagneGas investor email list, please email firstname.lastname@example.org with MNGA in the subject line.
About Construction Industry Institute
The Construction Industry Institute, based at The University of Texas at Austin, is a consortium of more than 130 leading owner, engineering-contractor, and supplier firms from both the public and private arenas with a focus on increasing sustainability of capital facility life cycles by researching innovation initiatives across relevant industries. These organizations have joined together to enhance the business effectiveness and sustainability of the capital facility life cycle through CII research, related initiatives, and industry alliances. A learning organization with a wealth of knowledge and information, CII is unique in the engineering and construction 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 MagneGas2® 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 MagneGas2® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas2®, 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 new vegetable oil to produce fuel until the systems can be properly configured to meet 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