MagneGas Sees Increased Fuel Demand Following FABTECH
Positive Reception Seen by Stakeholders in the Fabrication Industry to MagneGas 2 Demonstrations
TAMPA, Fla. -- MagneGas Corporation ('MagneGas' or the 'Company') (NASDAQ: MNGA), a technology company that counts among its inventions a patented process that converts liquid waste into a hydrogen-based fuel, announced today that it successfully demonstrated its new MagneGas® 2 product at the FABTECH Expo and received positive feedback from end users at the Expo.
MagneGas exhibited at the FABTECH Expo held last week at the Georgia World Conference Center where approximately 27,000 people were in attendance from the fabrication and welding industries. It is estimated that over 500 of those visitors came to the MagneGas booth and the Company received overwhelming positive feedback regarding the new MagneGas® 2 product demonstrations. MagneGas was one of only two exhibitors that were permitted to perform on-site cutting demonstrations at the event and over 30 end users picked up the torch and cut for themselves, adding to the level of interest in the product.
A large group of visitors were independent distributors of gas who were interested in finding alternatives to acetylene but until recently had no other options. Many were expert metal workers who were impressed by the flexibility, capability and accuracy of MagneGas® 2.
Some of the most noteworthy facts the Company discussed were:
- MagneGas® 2 can cut 38% faster than acetylene.
- MagneGas® 2 consumes 34% less oxygen than acetylene
- It is made of a renewable resource
- MagneGas® 2 releases less smoke
'The response to MagneGas 2 from attendees at FABTECH was outstanding. It is always a pleasure to show an expert metal worker a new tool that lets them work faster, safer and more efficiently,' stated Terry Vernille, Senior Vice President of MagneGas. 'The consumption of MagneGas 2 was so low that we cut continuously for over 2 days and used little more than one cylinder. We are very pleased with the responses received.'
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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.