TAMPA, Fla. -- MagneGas Corporation ('MagneGas' or the 'Company') (NASDAQ: MNGA) an award winning technology company that counts among its inventions a patented process that converts liquid waste into MagneGas fuel, announced today that the Company has signed a new gas distribution agreement with AWISCO Corp. of New York ('AWISCO'), a leading industrial gas company.
Under the terms of the agreement, AWISCO will be the exclusive supplier of MagneGas2 fuel in New York, New Jersey and Connecticut. As part of the agreement, AWISCO will be supplying the Fire Department of New York, and several major electric Utility Companies with MagneGas2 fuel. The Company had a previous relationship with AWISCO which has now been renewed and expanded to include new locations and MagneGas2 fuel.
MagneGas2 has consistently received positive feedback from end users such as first responders, utility companies and industrial facilities because of its proven faster cutting speed, its demonstrated safety attributes, its eco-friendly aspects and smaller heat affected zone. The fuel is produced in the USA, from a renewable energy source, as opposed to acetylene which is made from calcium carbide imported primarily from China and other countries. The reduced heat affected zone as compared to acetylene means the potential for less impact on human life in the vicinity of a cut during extractions. In addition, MagneGas2 is lighter than air, so the fuel dissipates in the event of a leak making it safer for use in already dangerous circumstances. These benefits are critical for the first responder and military markets.
'We have worked with MagneGas2 extensively during recent demonstrations at utility companies and other industrial customers. I am thrilled at the opportunity of representing this incredible product in our region. The feedback that we have received has been unanimously positive and we look forward to becoming the leading supplier of MagneGas2 in our region,' commented AWISCO President Lloyd Robinson.
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AWISCO is a leading supplier of industrial gas and welding supplies in the tri-state area of New York, Connecticut and New Jersey with an international expansion location in Florida. The Company is a full line supplier for the welding industry and has been in business for over 35 years.
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 also sells 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.