TAMPA, Florida, November 1, 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 two locations of a leading heavy equipment rental company will be using MagneGas2® for metal cutting and repairs. The equipment rental company has been using MagneGas2® in Florida and now is expanding its use into a New Jersey location. The customer has locations throughout the United States and Canada.
The fuel for the New Jersey location will be sourced by MagneGas Distributor AWISCO Corporation. MagneGas and AWISCO partnered in a marketing effort aimed at expanding the use of MagneGas2® in the New York and New Jersey markets. MagneGas personnel demonstrated the fuel's superior metal cutting benefits with assistance from the AWISCO sales team. The rental company primarily leases heavy equipment and will use the fuel to repair that equipment at their hub in New Jersey, where equipment repairs for that state are centralized.
"This marquee customer is just another example of our progress on strategy execution. We have found more and more companies are interested in environmentally friendly alternatives to acetylene for metal cutting. We believe that MagneGas2 has been introduced at a time that is well suited for just such an alternative fuel. To our knowledge, MagneGas2 is the only fuel made from a renewable source. In addition, testing has shown that our fuel cuts 38% faster than acetylene, making it a more productive fuel choice. We are currently in two locations with this new customer and we believe this could lead to additional market penetration in this segment," stated Ermanno Santilli, CEO of MagneGas.
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AWISCO is a leading supplier of industrial gas and welding supplies in the tri-state area of New York, Connecticut and New Jersey with an international expansion location in Florida. The Company is a full line supplier for the welding industry and has been in business for over 35 [website says 65] years.
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.
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SOURCE MagneGas Corporation