MagneGas Announces Initiation of Production and Sale of Metal Cutting Fuel In Michigan
TAMPA, Fla., Dec. 8, 2011 /PRNewswire/ — MagneGas Corporation (“MagneGas” or the “Company”) (OTCBB: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced today the initiation of production and sale of MagneGas fuel for metal cutting in Michigan. The Company has expanded its operations into Michigan by leasing an industrial building located in Rochester Hills, MI.
As a testament to the Company’s commitment to furthering its growth strategy, MagneGas recently deployed a 50 kWh mobile refinery to demonstrate the production of MagneGas at selected onsite customer locations throughout the state of Michigan. The Company has also completed the construction of a large 300 kWh MagneGas refinery for shipment and installation in Rochester Hills by January 2012.
Through demonstrations with existing MagneGas Distributor Blue Water Industries, the Company has received an initial purchase order for 200 cylinders of MagneGas. Blue Water currently has over 30,000 fuel cylinders in rotation and produces and sells more than 2.0 million cubic feet of metal working fuel per month. Due to the increased customer demand of MagneGas, Blue Water Industries estimates that they will order up to 20,000 cylinders of MagneGas per year.
As the Company continues with the expansion that began earlier this year, MagneGas has now started hiring, training and deploying personnel in the area. In preparation for the arrival of the large refinery, MagneGas is coordinating production and marketing efforts that include ongoing demonstrations with its mobile refinery. The Company is also investigating the recycling of selected non hazardous liquid waste to maximize profitability.
“The expansion of our operations into Michigan further validates our technology and fuel as we continue to see an increasing demand for MagneGas,” commented Scott Wainwright, President of MagneGas. “Through distributors, such as Blue Water, MagneGas is being well received as a clean alternative in the metal working fuel market. With the installation of the large refinery as well as the mobile unit leading demonstrations, we are confident that this is a significant step for MagneGas as we continue to expand our presence throughout the U.S.”
Pictures of the 50 kWh can be seen at the website link http://www.magnegas.com/newsandpictures.html
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About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (OTC BB: MNGA) is the producer of MagneGas(TM), a natural gas alternative and metal working fuel that can be made from certain industrial, municipal, agricultural and military liquid wastes following the receipt of appropriate governmental permits.
The Company’s patented Plasma Arc Flow(TM) process gasifies liquid waste, creating a clean burning hydrogen based fuel that is essentially interchangeable with natural gas, but with lower green house gas emissions. MagneGas(TM) can be used for metal working, cooking, heating, powering bi fuel automobiles and more. For more information on MagneGas, please visit the Company’s website at www.magnegas.com.
The information contained herein includes forward-looking statements. 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 safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. The Company is currently using new antifreeze, vegetable oil and ethylene glycol to produce fuel until proper permits to process used liquid waste have been obtained.
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.
SOURCE MagneGas Corporation