24/07/2014 17:49:01 Free Membership Login

MagneGas Customer Growth Continues In October

Date : 11/16/2012 @ 8:45PM
Source : PR Newswire (US)
Stock : Magnegas Corp. - Common Stcok (MM) (MNGA)
Quote : 1.505  -0.015 (-0.99%) @ 5:30PM
Magnegas Corp. - Common Stcok (MM) share price Chart

MagneGas Customer Growth Continues In October

Magnegas Corp. - Common Stcok (MM) (NASDAQ:MNGA)
Historical Stock Chart

2 Years : From Jul 2012 to Jul 2014

Click Here for more Magnegas Corp. - Common Stcok (MM) Charts.
MagneGas Customer Growth Continues In October

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

Copyright 2012 PR Newswire



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 in 140724 17:49