TAMPA, Florida -- 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 MagneGas2 fuel, announced today that its wholly owned gas distribution subsidiary Equipment Sales and Services, Inc. ('E.S.S.I') has received confirmation that a major industrial company is moving all of their welding gas and related product orders to E.S.S.I. The Company estimates that their annual sales from this one customer will exceed $400,000.
E.S.S.I. distributes MagneGas fuel, industrial gases and related products and was acquired by MagneGas Corporation as a wholly owned subsidiary in late 2014. They have been pursuing this new customer for over 12 months through various demonstrations and executive meetings. The new customer has indicated they will be purchasing all of their industrial gases and welding products throughout the year from E.S.S.I and their initial orders have been placed and delivered. This customer previously ordered their gases and welding products from an international multi-billion dollar MagneGas competitor. The customer stated that they are switching to E.S.S.I. due to the superior customer service and exclusive access to MagneGas2 fuel.
'This is a significant win for our Company. We believe it proves the model that MagneGas2 can be used as a major door opener to these previously unavailable large customers. In addition, we have been hearing time and again that poor customer service from our competitors, combined with our exclusive MagneGas2 product offering is closing sales. We look forward to continue to pursue our sales strategy through our national expansion plans,' commented Ermanno Santilli, CEO, MagneGas Corporation.
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About MagneGas Corporation
MagneGas Corporation (NASDAQ: MNGA). The Company owns a patented process that converts various liquid wastes into hydrogen based fuels. These fuels can be used as a replacement to natural gas or for metal cutting. The Company's testing has shown the fuels are faster, cleaner and more productive than other alternatives on the market. They are also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas into the metal working market as a replacement to acetylene.
The MagneGas fuel production systems can be set-up locally using various types of feedstock. The Company believes this flexibility can give them an advantage in the Government/Military marketplace as fuels can be manufactured on site from raw materials found locally worldwide and eliminates the time and expense of shipping to the specific military theater. The Company is planning to establish joint ventures with third parties to construct these supply facilities worldwide.
The Company 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 http://www.MagneGas.com.