TAMPA, Florida, October 20, 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 MagneGas2® fuel,
announced today that due to growing demand for MagneGas2® fuel that
has created a substantial backlog, a second production facility
will be operational this week. The second production unit is
expected to fulfill the increased demand and the Company plans to
have a third unit in operation in early 2016 to handle the
continued expected high demand for its MagneGas2® industrial
fuel.
The Company believes the additional demand is a direct result of
its sales penetration into key vertical market segments including
utilities, demolition companies, first responder markets as well as
government and military sectors. The Company has also aggressively
worked to expand its distribution network and in-house sales and
marketing programs.
MagneGas2® has consistently received positive feedback from end
users for its advantages over acetylene. Industries ranging from
demolition companies, utility companies, first responders and
fabricators have been praising and ordering MagneGas2® because of
its proven faster cutting speed, demonstrated safety attributes,
eco-friendly aspects, smaller heat affected zone and lower
cost. In addition, MagneGas2® is produced in the USA versus acetylene which is made from
calcium carbide imported primarily from China and other countries.
"We continue to be very pleased with the positive feedback
received from customers and distributors regarding MagneGas2®.
The product is a faster cutting fuel, which offers our
customers numerous other savings from increased flexibility,
smaller heat affected zone, reduced grinding and ability to cut
layered and complex steel like no other fuel on the market. We look
forward to seeing the impact of these new facilities on revenue in
the coming months as we continue to expand nationwide. A third
facility is under construction and is expected to be operational in
early 2016 as the Company moves into its new headquarters."
commented Ermanno Santilli, CEO,
MagneGas Corporation.
The MagneGas IR App is now available for free in Apple's
App Store for the iPhone or iPad
http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk for
Android mobile devices.
To be added to the MagneGas investor email list, please email
pcarlson@kcsa.com with MNGA in the subject line.
About MagneGas Corporation
MagneGas® Corporation (NASDAQ: 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.
FORWARD-LOOKING STATEMENTS
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.
Investor Contacts:
KCSA Strategic Communications
Philip Carlson / Brad Nelson
+1-212-896-1233 / +1-212-896-1217
pcarlson@kcsa.com / bnelson@kcsa.com
SOURCE MagneGas Corporation