TAMPA, Fla., Nov. 16, 2012 /PRNewswire/ -- MagneGas
Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), the
developer of a technology that converts liquid waste into a
hydrogen-based metal working fuel and natural gas alternative,
announced today that it continued sales expansion in October by
adding eight new fuel customer locations in Florida and Michigan.
The Company expects the incremental revenue generated from these
new locations to be between $150,000 and
$200,000 in fiscal year 2013 as it continues to build on its
recurring revenue base.
"We are pleased with the continuous expansion in our customer
base," commented Scott Wainwright,
President of MagneGas. "Our ongoing growth is a direct testament to
the quality of our product, which not only cuts metal faster and
safer than its competitors, but also is an environmentally friendly
alternative to what is currently being used throughout the metal
cutting industry."
"We continue to deliver solid results as we further execute on
our growth strategy," stated Ermanno
Santilli, Chief Executive Officer of MagneGas. "As we
build upon the solid foundation of our Company, our sales and
marketing efforts have helped us to expand our footprint in the
metal working industry as new and potential customers realize the
cost effectiveness and superior cutting qualities of
MagneGas™."
The MagneGas IR App is now available for free in Apple's
App Store for the iPhone or iPad
http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk for
Android mobile devices.
To be added to the MagneGas investor email list, please email
pcarlson@kcsa.com with MNGA in the subject line.
About MagneGas Corporation
Founded in 2007, Tampa-based
MagneGas Corporation (NASDAQ: 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.
FORWARD-LOOKING STATEMENTS
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
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