Previously Announced Demo for Waste to Energy Company Completed Successfully and Results in Multiple New Customer Orders
TAMPA, Fla., July 29, 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 a major waste to energy company, which previously viewed a demonstration of MagneGas® fuel for metal cutting, has placed multiple orders.
Company officials viewed a MagneGas demonstration in Florida and New Jersey and requested formal testing at their company headquarters. Testing was successful and the Company has placed multiple orders of MagneGas® for metal cutting to begin roll-out of the product to their facilities. MagneGas® will be used as a replacement to acetylene for repairs and demolition. The waste to energy company has 45 facilities throughout the world that process large volumes of solid waste into renewable energy. The company is publicly traded on the NYSE, with a market value of over $2 billion. Their name is being held confidential until completion of the roll out.
"This is just another example of the execution on our strategy to attract marquee customers that can have a significant impact on revenue as our product rolls out to multiple locations. As with other customers of this size, the testing and demonstration took time, but in the end they saw the benefits of MagneGas for metal cutting. These initial orders have been filled and we look forward to supplying several other locations," commented Ermanno Santilli, CEO of MagneGas Corporation.
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.
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