TAMPA, Fla., Jan. 12, 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 a hydrogen-based fuel, announced today that it has received formal confirmation from the Special Operations Command of the Fire Department of the City of New York ("FDNY") that it has successfully completed testing of MagneGas® for use as a metal cutting and extraction tool and has placed its first order of fuel.
As part of its overall strategy to grow fuel sales, MagneGas has identified fire departments and first responder units as ideal customers for the use of its gas due to the speed of the MagneGas® cut, reduction of the heat affected zone and flexibility of use.
FDNY tested MagneGas® for 18 months and stated in writing to the Company that it chose MagneGas® for the following reasons:
- MagneGas has a hotter flame temperature than other cutting methods;
- The tank can be used in various positions and does not need to be upright during operation unlike other fuels;
- It is a stable gas making it safer for deployment in harsh conditions, unlike acetylene;
- MagneGas is contained in lighter tanks making for faster deployment;
- Off gasses have less toxicity than other alternatives;
- MagneGas is made locally from renewable waste liquids.
The FDNY Special Operations Companies will be adding a MagneGas setup to their arsenal of specialized life saving tools. Some Heavy Rescue units carry as many as four types of cutting torches, squad companies typically carry three. MagneTote™ and MagneGas®, with its hotter burning flame temperature and compact easy to deploy package may make consolidation possible from three or four types of cutting systems to MagneGas®. MagneGas personnel have completed initial training of the 12 Rescue Commands in New York which began January 6, 2015. The Company will now work towards expanding the MagneGas product into the 200 Fire Departments in the region and hopes to leverage this validation with Fire Departments in the South East and then Nationally.
"The FDNY has been testing MagneGas® as a replacement to Acetylene and other cutting systems for 18 months, studying both the enhanced safety of the fuel as well as the improvement to disaster and extraction rescues. We are pleased to have received the formal approval from Special Operations Command and satisfied that we have completed the initial training of the 12 locations in New York." Stated Ermanno Santilli, CEO MagneGas Corporation. "The opportunity to be the Go-To cutting fuel for the FDNY is one of the best possible validations of the multi faceted superiority of MagneGas® over legacy cutting methods. This is fantastic news, we are honored to serve these American Heros."
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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.
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SOURCE MagneGas Corporation