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, previously announced that during the week of June 22, it would be demonstrating MagneGas® fuel to several utility companies. Those demonstrations were completed last week with decision makers from several top U.S. utility companies in attendance. The Company believes the demonstrations were successful as they have received multiple requests for additional demonstrations as a result of those meetings.
Utility officials representing some of the largest companies in the country, viewed MagneGas2® in hands-on demonstrations and showed strong interest in the fuel, especially its improved productivity and safety features. These demonstrations were conducted for utility officials and department heads, the majority of who have now ordered the next step of introducing the product to their full departments. Initial written feedback from one utility specifically indicated that they found, 'MagneGas2® to be environmentally friendly, safer to use, less expensive and more productive than acetylene.'
'We are pleased at the outcome of the demonstrations last week. The overwhelming feedback was positive as they compared MagneGas2 to acetylene. The majority of these companies have commenced internal purchasing procedures which, due to the size of these companies, may take up to several months. However, we are thrilled at the positive feedback received and believe it is just a matter of time before we are selling MagneGas to these companies. A key strategy of ours has been to demonstrate our fuel to marquee customers to enable our pull through strategy with local distribution. In addition to adding these new utility customers, we expect a significantly expanded distribution network as a result of these demonstrations,' 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.
To be added to the MagneGas investor email list, please email email@example.com with MNGA in the subject line.