TAMPA, Florida, October 26, 2016 /PRNewswire/ --
MagneGas Corporation ("MagneGas" or the "Company") (MNGA) a leading technology company that counts among its inventions a patented process that converts renewable and liquid waste into MagneGas2® fuel, announced today that it has signed a Distribution Agreement with Holston Gases of Tennessee. Holston will be distributing MagneGas2® for metal cutting as an alternative to acetylene.
Holston Gases is one of the largest independent distributors of industrial, propane, medical and beverage gases in the United States with 27 locations in 7 states. MagneGas and Holston partnered in a marketing effort aimed at demonstrating MagneGas2® in their local markets through four store locations. The response from customers was overwhelmingly positive, resulting in the execution of a distributor agreement. Holston has received several shipments of cylinders and will be making MagneGas2® available in all 27 locations.
"MagneGas personnel have been working with Holston for almost one year with multiple meetings and demonstrations completed as part of the Holston due diligence process. We identified Holston as a key potential distributor for the southeast and have been diligently pursuing the relationship ever since. We are honored that Holston, after significant due diligence, selected MagneGas2. They are one of the largest independent industrial gas distributors in the country and present a significant opportunity for MagneGas as we continue to execute on our strategy to grow our industrial gas segment through these kind of marquee relationships," stated Ermanno Santilli, CEO of MagneGas.
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About Holston Gases
Holston Gases is one of the largest independent suppliers of industrial, medical, propane, and beverage gases in the United States. Headquartered in Knoxville, Tn., Holston has grown to 27 locations in 7 states: Tennessee, Kentucky, Alabama, Virginia, Georgia, South Carolina, and North Carolina, and serving customers in Georgia, South Carolina, Virginia, Ohio, and Indiana.
We carry all welding and industrial gases, medical, specialty and laboratory gases, beverage CO2, and propane gas. They are equipped to handle compressed cylinders, bulk facilities, and liquid requirements.
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
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.
KCSA Strategic Communications
SOURCE MagneGas Corporation