Defense Contractor Association Meeting Creates New Business Opportunities for MagneGas2® Sales
TAMPA, Florida, November 30, 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 MagneGas2® fuel, announced today that after recently exhibiting its technology to attendees of the Florida Defense Contractors Association Expo, it has received numerous requests for additional private meetings and hands-on demonstrations.
The Expo was hosted by the Florida Defense Contractors Association in conjunction with Congressman Ander Crenshaw and MagneGas was a Sponsor. MagneGas believes its metal cutting fuel is ideally suited for first responder and military markets due to the speed of cut, the small heat affected zone and its safety attributes.
While the names of the companies requesting additional meetings must remain confidential at present, they include domestic and international companies (listed on the NYSE) and government agencies. The specific companies that requested additional demonstrations and presentations, provide the following services in the following areas: National Security, Aerospace, Defense, Energy (sales, distribution, transportation), Maritime (engineering, vessel design, construction management) and a Military Agency providing vital support for a division of the Armed Forces.
The Florida Defense Expo offered an ideal opportunity for MagneGas to present its unique technology to military, law enforcement, Homeland Security and other organizations serving the United States with businesses dedicated to providing high quality, safe and innovative products and services available to the country's warfighters and first responders. Federal, state, and local leaders were also in attendance.
The attendees included representatives of:
- Service Members from Local Military Installations
- First Responders
- Homeland Security Professionals
- Modeling and Simulation Professionals
- Procurement and Business Development
- Cyber Specialists
- Research Scientists
- IT and Legal Professionals
- Software Developers
- Government Leaders & Elected Officials
"We were pleased at the opportunity to sponsor another event for first responders and military members. MagneGas is a proud supporter of the military with over 30% of our workforce coming from all branches of the military. MagneGas fuel has shown time and again its benefits for these markets and this expo allowed us to gain further relationships in these industries. We look forward to the potential future business opportunities that can come from this even," stated Ermanno Santilli, CEO, MagneGas Corporation.
A list of exhibitors can be found at http://www.fl-dc.com/events/florida-defense-expo/
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About MagneGas Corporation
MagneGas® Corporation ($MNGA). The Company owns a patented process that converts various liquid wastes into hydrogen based fuels. These fuels can be used as a replacement to natural gas or for metal cutting. The Company's testing has shown the fuels are faster, cleaner and more productive than other alternatives on the market. They are also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas® into the metal working market as a replacement to acetylene.
The MagneGas fuel production systems can be set-up locally using various types of feedstock. The Company believes this flexibility can give them an advantage in the Government/Military marketplace as fuels can be manufactured on site from raw materials found locally worldwide and eliminates the time and expense of shipping to the specific military theater. The Company is planning to establish joint ventures with third parties to construct these supply facilities worldwide.
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.
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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