MagneGas Signs Exclusive Distribution Agreement with Major Southeast Fire-Rescue Supplier
Company Continues Expansion into Fire-Rescue Market with Municipal Equipment Company LLC
TAMPA, Fla., March 10, 2015 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), the developer of a technology that converts liquid waste into hydrogen-based fuel and sterilized liquids, announced today that Municipal Equipment Company LLC ("Municipal") has signed a one year contract to distribute MagneTote™ and MagneGas® fuel throughout the state of Florida. Under the terms of the agreement, Municipal will be the exclusive supplier of MagneGas® and MagneTote™ for the Fire-Rescue market in Florida. The Company estimates there are 271 Fire Departments in the state. Municipal already distributes other products to this market and after extensive review, has added MagneGas® to their product line offering. The Company believes the Fire-Rescue market is ideal to use MagneGas® fuel as a replacement to acetylene for extractions due to the safety features of the fuel. These features include a smaller heat affected zone, better stability and a fuel composition that is lighter than air allowing the fuel to dissipate quickly in the event of a leak.
"During our display at the Fire-Rescue East Trade Conference we received interest from equipment distributors from many areas of the country," stated Ermanno Santilli, CEO of MagneGas. "We found Municipal to be the perfect match since they are located in Florida and Georgia. Their headquarters in Orlando will allow easy distribution and regularly scheduled face to face meetings. As we continue to penetrate the Florida market we hope to expand with Municipal into Georgia in the near term."
"Having seen MagneTote at the Orlando show we felt that this would be a product that could give us a competitive edge," stated Matt Fenneman, President of Municipal Equipment. "I traveled to their Company headquarters for a more hands on demonstration of the MagneGas2 product and was very impressed with the speed of preheat and cut, as well as the safety aspect of this product. We at Municipal strive to bring the most innovative, safety conscious, productive products to our customers and with what MagneGas2 and the MagneTote we are doing just that."
The MagneGas IR App is now available for free in Apple's App Store for the iPhone or iPad http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk for Android mobile devices.
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About Municipal Equipment Company LLC.
Municipal has been servicing the professional firefighter and fire departments in Georgia and Florida for over 30 years with only the top quality and the safest products available. Municipal also provides a certified turnout gear cleaning and repair facility in Florida. Municipal Equipment Company's mission is to serve our customers by providing the best and safest equipment available to the professional firefighter. Municipal Equipment is committed to creating new solutions for the fire services ever-changing needs. http://www.mecofire.com
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 and sterilized liquids 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.
FORWARD-LOOKING STATEMENTS
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 ethylene glycol to produce fuel until proper permits to process used liquid waste have been obtained.
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
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