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MagneGas growing family of distributors

Last updated: 09:35 06 May 2016 EDT, First published: 04:35 06 May 2016 EDT

Pictured is a steel works....MagneGas is used in the the steel cutting process......
MagneGas is used in the the steel cutting process.....

MagneGas Corporation (NASDAQ:MNGA), the liquid waste-to-fuel specialist, has grown the number of its distributors, it told investors.

A major Southeast distributor has placed its first order of MagneGas2 to supply four locations in Alabama, it said.

From these, it will also supply an existing utility customer of MagneGas, and will be the Company's preferred distributor for MagneGas2 for metal cutting in their territory.

MagneGas converts various liquid wastes into hydrogen based fuels, which can be used instead of natural gas or for metal cutting.

Chief executive Ermanno Santilli told investors: "We are happy to welcome this company to our growing MagneGas family of distributors.

"With them, we now have distribution coverage in many of the major hubs in the eastern half of the United States. 

"We continue to execute on our plan to expand rapidly, adding customers in states that we eventually plan to expand into either through plant installation or joint ventures. MagneGas2 has continued to receive positive feedback from distributors and customers which is providing the catalyst to execute on our expansion strategy."

Last month the firm said its cutting fuel is being used on the construction of two iconic hotels on Clearwater Beach, Florida.

Steel fabrication contractor and current MagneGas2 customer, Suwannee Iron Works & Fence, was brought in to help with the steel construction portion of the hotel projects. They specifically demanded MagneGas2 fuel for the job, Magnegas said, because of its unique properties, including cut speed and safety.

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