MagneGas Adds New Distribution Customer to Growing Pipeline
TAMPA, Fla., Jan. 26, 2012 /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 Custom Welding Diversified, Inc. has agreed to distribute MagneGas(TM) to its customers in the metal working fuel market throughout southern Florida. Custom Welding Diversified Inc. will help to expand MagneGas’ growing presence in south Florida as it services the Miami / Ft. Lauderdale area, an area not currently supplied directly from MagneGas headquarters.
“We are excited to enter into a partnership with MagneGas Corporation,” commented Tommy Creel, Vice President of Custom Welding Diversified, Inc. “By providing a clean alternative such as MagneGas, we are confident our customers in the unserved Treasure Coast area will be elated at how efficient and how quickly this fuel is used for metal working. As a new distributor of the MagneGas(TM) fuel, we are extremely excited both in its use and for future business generation.”
“As a cost competitive green alternative in the metal cutting fuel market, MagneGas stands to benefit from relationships such as this,” stated Scott Wainwright, President of MagneGas Corporation. “As we continue to pursue our growth strategy by forging agreements with select distributors, MagneGas(TM) fuel will become more widespread and commonly accepted as the metal working fuel of choice.”
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About Custom Welding Diversified, Inc.
Custom Welding Diversified, Inc., a small business founded in 1992, is family owned and operated. The company started off as a small welding & fabrication shop. Quick growths led to the purchase of a larger building by which they were able to expand on their products and services. Aside from producing quality metal products and services, Custom Welding offers trailer supplies and repair services as well as a large variety of industrial gases and welding supplies. This family business takes pride in their relationship with each customer and has done so for nearly 20 years. Custom Welding regularly services industrial, commercial and residential communities along the Treasure Coast and occasionally throughout the state of Florida.
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