TAMPA, Fla., July 9, 2015 -- MagneGas Corporation ("MagneGas" or the "Company") ($MNGA), a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas® fuel, announced today that LB Construction, Inc. of California has completed its assessment of MagneGas and has implemented the use of the fuel for metal cutting for current and future products. LB Construction was previously announced as a confidential major construction company from California that had placed its first order. Since that time, they have completed implementation of the product and have formally endorsed MagneGas publicly.
LB Construction has been operating for over twenty years in three states with projects in steel, drywall and carpentry. They selected MagneGas® for their metal cutting due to the quality of the cut and the fuel's reduced environmental impacts. MagneGas anticipates that additional orders will be placed in the coming weeks for multiple construction projects.
"After our first demo, we noticed immediately that MagneGas could provide us with a significant increase in speed and a reduction in time to treat a cut due to how clean it is. We were able to double our cutting speed on our track table. We are currently using MagneGas for shop fabrication and field cutting. We are excited about the renewable components and added safety MagneGas brings to our production," stated Vance Lancaster, Vice-President of LB Construction.
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About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation ($MNGA) is a technology Company that counts among its inventions, a patented process that converts liquid waste into hydrogen based fuels. 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.
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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