TAMPA, Fla., May 7, 2012 /PR Newswire/ -- 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 that new Michigan customer City Recycling, Inc. has taken its first order of MagneGas™, which will be used throughout its metal-cutting operations. The company will be supplying MagneGas™ to City Recycling from its Michigan-based refinery.
Located in Detroit, City Recycling is a full-service metal recycler and processor with a solid reputation for speed, efficiency and customer satisfaction. The environmentally friendly recycling center has been serving Southeast Michigan and Metro Detroit for 20 years.
'MagneGas™ is a dynamic fuel for our metal-cutting operations and will serve as a cheaper and more productive alternative to propane and acetylene,' said Mark Wierszewski Jr., Vice President of City Recycling, Inc. 'We look forward to using it extensively in metal cutting as we continue to operate as an environmentally friendly recycler.'
'Adding City Recycling to our stable of clients demonstrates that we are continuing to successfully execute on our growth strategy,' stated Scott Wainwright, President of MagneGas. 'Customers immediately see the benefits when using our fuel, as well as the cost savings potential for their company. We are excited to work with City Recycling and are confident this will be the start of a long-lasting business relationship.'
In a recent issue of gasworld magazine, a special feature was written on MagneGas Corporation. The article titled, 'MagneGas: The green, no compromise alternative to acetylene,' highlights the Company's ambitions towards having MagneGas™ become the global green alternative to acetylene. To view the full article, visit http://bit.ly/IJREAG.
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About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (OTC BB: MNGA) is the producer of MagneGas™, 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™ process gasifies liquid waste, creating a clean burning hydrogen based fuel that is essentially interchangeable with natural gas. MagneGas™ 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.
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 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