TAMPA, Fla. -- 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 MagneGas® fuel, announced today that it successfully completed a MagneGas2® presentation to a second top ten utility company in the United States. Formal demonstration and testing has been scheduled for June. In February, MagneGas2® was accepted by one of the nation's top 5 utilities as a replacement for acetylene because of its improved productivity and safety features.
Officials for the company viewed a MagneGas presentation and indicated an interest in MagneGas® productivity and safety features. A formal demonstration and testing is scheduled for June, during which time the utility company indicated they would invite other local utility companies in the area to attend. They specified that they were interested in using MagneGas® for repairs and demolition projects.
'We continue to have major industry leaders contact us to learn about MagneGas. The industrial gas market is clearly open to innovative, disruptive products that can positively impact our environment and the workplace. MagneGas2 is one of those new products that is expanding our market share with the growing demand and recognition for our products. We are excited at the enormity of these opportunities presented to us in just the last 30 days. Our commitment for our shareholders is to continue to establish MagneGas as the standard for safety and usability,' stated Ermanno Santilli, CEO Magnegas Corporation.
About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: 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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