MagneGas Corp. (NASDAQ: MNGA) Breaking News Alert -
January 5, 2017
MagneGas Signs Definitive Agreements for $2.65 Million
Equipment Sale to German Company; Largest Single Sale in Company History
$2.65 Million Equipment Contract Includes
Sale of Gasification System, Sterilization System, and MagneGas2®
TAMPA, FL – January 5, 2017 -- MagneGas® Corporation ("MagneGas®" or
the "Company") (NASDAQ: MNGA),
a leading technology Company that counts among its inventions a patented process
that converts renewable and waste liquids into MagneGas2® fuel, announced today
that it has entered into its largest equipment sale to date with the signature
of definitive agreements (“Agreements”) to manufacture and deliver certain
equipment and supplies to a company based in Germany. MagneGas will receive
$2.65 million for its proprietary Gasification and Sterilization systems and
will supply MagnesGas2® fuel and cylinders.
Under the terms of the Agreements, MagneGas will manufacture and deliver: 1) A
300KW stationary Gasification system; 2) A 100KW mobile Sterilization system; 3)
250 cylinders full of MagneGas2®; and 4) 50 MagneGas regulators. A deposit of
$25,000 has been received, with progress payments totaling $2.625 million to be
paid over the course of the
manufacturing and delivery of the various systems. The first payment of $1.35
million is due in 90 days with progress payments due thereafter with set
construction and delivery milestones. In addition, the German company has
indicated an interest in negotiating to purchase several additional systems for
multiple markets.
The German company has indicated they will initially utilize the Gasification
system to produce MagneGas2® fuel to sell into the German market with the
potential of other markets coming online soon after. The Sterilization system is
expected be used for demonstrations and small service contracts with the goal of
entering the agriculture and municipal wastewater treatment markets in Germany.
Ermanno Santilli, CEO of MagneGas Corporation stated: “We are thrilled that our
original LOI progressed so quickly to definitive agreements. We believe
MagneGas2® fits very well into the European markets that have been moving
towards clean and renewable fuel alternatives. This is the largest sale in the
history of MagneGas and our first sale in Europe. We are looking forward to 2017
and believe this is a great start.”
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
MagneGas® Corporation (MNGA) owns a patented process that converts various
renewables and liquid wastes into MagneGas fuels. These fuels can be used as an
alternative to natural gas or for metal cutting. The Company's testing has shown
that its metal cutting fuel “MagneGas2®” is faster, cleaner and more productive
than other alternatives on the market. It is also cost effective and safe to use
with little changeover costs. The Company currently sells MagneGas2® into the
metal working market as a replacement to acetylene.
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.
The Company distributes MagneGas2® through Independent Distributors in the U.S
and through its wholly owned distributor, ESSI (Equipment Sales and Services,
Inc.). ESSI has four locations in Florida and distributes MagneGas2®, industrial
gases and welding supplies. For more information on ESSI, please visit the
company’s website at http://www.weldingsupplytampa.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 virgin vegetable oil to produce fuel while it configures its
systems to properly process waste within local regulatory requirements.
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.
Investor Contacts:
KCSA Strategic Communications
Philip Carlson
+1-212-896-1233
pcarlson@kcsa.com
SOURCE MagneGas Corporation
--------------------------------
RECENT MNGA News:
MagneGas Signs Letter of Intent to Purchase 2,000 Additional
Fuel Cylinders to Accommodate Demand
Factory Backlog Prompts MagneGas to Issue
Letter of Intent to Purchase 2,000 Additional Cylinders
TAMPA, FL – December 15, 2016 -- MagneGas® Corporation ("MagneGas®" or
the "Company") (NASDAQ: MNGA),
a leading clean technology company that counts among its inventions a patented
process that converts renewable and waste liquids into MagneGas2® fuel,
announced today that due to growing demand for MagneGas2® that has created a
substantial backlog, the Company has signed a Letter of Intent to purchase 2,000
additional fuel cylinders.
The Company has aggressively worked to expand its distribution network and
in-house sales and marketing programs. As a result, the MagneGas2® fuel
continues to gain market acceptance. The Company has added a number of new
customers and other large potential customers are in the testing or product
procurement phase. In addition, the Company's wholly owned welding gas and
supply distributor, ESSI, Inc. has expanded geographically into three additional
retail locations, creating increased demand for MagneGas2®.
"Our strategy of seeding the market through marquee customers and increased
distribution has continued to expand our footprint and the demand for
MagneGas2®. Our factory now has a significant backlog of demand that prompted
the purchase of additional cylinders. MagneGas2® has been used as a door opener
to other welding gas and supply sales, so for every cylinder of MagneGas2® that
is sold, we may see a multiple of that in other products sold," commented
Ermanno Santilli, CEO of the Company.
"We are excited by the potential to rapidly expand and strengthen our customer
relationships, becoming a complete solution for clients in the welding supply
industry. We look forward to seeing the impact of these new cylinders on revenue
and new client acquisitions in the coming months as we continue to expand,"
concluded Mr. Santilli.
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
MagneGas® Corporation (MNGA) owns a patented process that converts various
renewables and liquid wastes into MagneGas fuels. These fuels can be used as an
alternative to natural gas or for metal cutting. The Company's testing has shown
that its metal cutting fuel "MagneGas2®" is faster, cleaner and more productive
than other alternatives on the market. It is also cost effective and safe to use
with little changeover costs. The Company currently sells MagneGas2® into the
metal working market as a replacement to acetylene.
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.
The Company distributes MagneGas2® through Independent Distributors in the U.S
and through its wholly owned distributor, ESSI (Equipment Sales and Services,
Inc.). ESSI has four locations in Florida and distributes MagneGas2®, industrial
gases and welding supplies. For more information on ESSI, please visit the
company's website at http://www.weldingsupplytampa.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 virgin vegetable oil to produce fuel while it configures its
systems to properly process waste within local regulatory requirements.
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.
Investor Contacts:
KCSA Strategic Communications
Philip Carlson
+1-212-896-1233
pcarlson@kcsa.com
SOURCE MagneGas Corporation
MagneGas Announces Financing of $3 Million
TAMPA, FL – November 16, 2016-- MagneGas® Corporation ("MagneGas®" or
the "Company") (NASDAQ: MNGA),
a technology company that counts among its inventions a patented process that
converts renewable and liquid waste into MagneGas2® fuel, announced today that
on November 16, 2016, it entered into an agreement with a single institutional
investor for a registered direct placement of approximately $3 million. The
Securities Purchase Agreement provides for the sale of $2.5 million of
pre-funded warrants which warrants are exercisable into 5,102,041 shares and
$500,000 in payment for 1,020,408 shares.
The investor and the Company also agreed to amend the following warrants issued
as part of a June 2016 financing: an E-4 common stock purchase warrant is now
exercisable at $0.66 ($0.01 above the closing market price) for the investor to
purchase up to an additional $4.6 million of common stock and is now exercisable
6 months from the closing of this transaction and now has a term of 7 years; an
E-5 common stock purchase warrant to purchase 3,508,772 shares of common stock
is now exercisable at $0.90 (approximately 38% premium to the closing market
price); and an E-6 common stock purchase warrant to purchase 1,754,386 shares of
common stock is also now exercisable at $0.90. The Series E-5 and E-6 common
stock purchase warrants vest ratably only upon the exercise of the E-4 common
stock purchase warrant.
The placement is expected to close on or before November 18, 2016, subject to
satisfaction of customary closing conditions.
The pre-paid warrants and common stock are being offered and the E-4 warrants
are being amended pursuant to a shelf registration statement (File No.
333-207928), which was declared effective by the United States Securities and
Exchange Commission ("SEC") on June 15, 2016.
The E-5 and E-6 warrants are being amended pursuant to a resale registration
statement (File No. 333-212879), which was declared effective by the SEC on
August 12, 2016.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any of the securities described herein, nor shall there be any
sale of these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About MagneGas Corporation
MagneGas® Corporation (MNGA) owns a patented process that converts various
renewables and liquid wastes into MagneGas fuels. These fuels can be used as an
alternative to natural gas or for metal cutting. The Company's testing has shown
that its metal cutting fuel "MagneGas2®" is faster, cleaner and more productive
than other alternatives on the market. It is also cost effective and safe to use
with little changeover costs. The Company currently sells MagneGas2® into the
metal working market as a replacement to acetylene.
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.
The Company distributes MagneGas2® through Independent Distributors in the U.S
and through its wholly owned distributor, ESSI (Equipment Sales and Services,
Inc.). ESSI has four locations in Florida and distributes MagneGas2®, industrial
gases and welding supplies. For more information on ESSI, please visit the
company's website at http://www.weldingsupplytampa.com.
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.
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.
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.
Investor Contacts:
KCSA Strategic Communications
Philip Carlson
+1-212-896-1233
pcarlson@kcsa.com
SOURCE MagneGas Corporation
MagneGas Reports 66% Increase in Revenue for the Third
Quarter of 2016
TAMPA, FL – November 14, 2016 -- MagneGas® Corporation ("MagneGas®" or
the "Company") (NASDAQ: MNGA),
a leading clean technology company that counts among its inventions a patented
process that converts renewable and liquid waste into MagneGas2® fuel, today
announced financial results and provided a business update for the third quarter
ending September 30, 2016.
Third Quarter 2016 Financial Highlights
Revenue for the three months ended September 30, 2016 increased 66% to $1.0
million compared to $623,893 for the same period last year;
Revenue for the nine months ended September 30, 2016 increased 45% to $2.5
million compared to $1.8 million for the same period last year;
Gross margins increased 411 basis points to 39% from 35% for the three-month
period ending September 30, 2016 versus September 30, 2015.
Recent Business Highlights
A Letter of Intent was signed for the purchase of a coal combustion technology
company with revenue in excess of $14 million;
A Letter of Intent with deposit was signed with a German company to purchase
$2.65 million in MagneGas equipment and fuel;
Thousands additional fuel cylinders were purchased to keep up with increasing
demand for MagneGas2® fuel;
A leading industrial gas distributor in the Southeast began distributing
MagneGas2® fuel for metal cutting as an alternative to acetylene;
The Company announced the opening of two new retail locations for the sale of
MagneGas2® and industrial gases and supplies for the welding industry;
A Fortune 100 auto manufacturing company selected MagneGas2® for metal cutting
at two factories in the United States;
The Company completed construction of its gasification system for sale to Green
Arc Supply from Louisiana.
Ermanno Santilli, Chief Executive Officer of MagneGas, stated, "We continue to
grow our industrial gas sales and we are pleased to report a 66% increase in
revenue for the three months ending September 30, 2016 versus the same period
last year. We have benefitted from our MagneGas2® product line, which enables us
to drive better value for our clients in an otherwise commoditized price
competitive landscape. We are gaining market share at an accelerated pace in our
addressable markets."
"As a whole, our industrial gas segment, which not only includes MagneGas2® but
also welding supplies and other gases, has increased at nearly a 20% annualized
growth rate, compared to an estimated 2% growth rate for our welding supply
peers. We attribute our continued growth quarter after quarter to our strong
marketing efforts and the addition of customers and distributors, including
those we obtained through our welding supply business, ESSI. We believe that
MagneGas2® is an excellent door opener, and customers quickly see the
value-added benefits of switching to
MagneGas2®, which is a safer, hotter and faster cutting alternative to what they
are using now."
"Given the growing demand for MagneGas2®, which has allowed us to build our
backlog, we completed the purchase of thousands of additional fuel cylinders per
the previously announced purchase order. The demand we are experiencing is a
direct result of our sales penetration into key vertical market segments
including utilities, demolition companies, first responder markets and major
manufacturing companies. Several existing customers have expanded their use of
MagneGas2® into additional facilities and we have other large potential
customers currently testing MagneGas2®."
"We continue to grow our industrial gas segment through new partnerships within
the gas market. We signed a distributor agreement with Holston Gases of
Tennessee, one of the largest independent distributors of industrial, propane,
medical and beverage gases in the United States as a preferred distributor for
the Southeast with 27 locations in 7 states. Holston will be distributing
MagneGas2® for metal cutting as an alternative to acetylene. We feel that this
new strategic relationship further validates the market's growing acceptance of
our MagenGas2® product offering."
"We are also expanding the use of MagneGas2® along the East Coast and
nationwide. The marketing program we implemented with our distribution partner,
AWISCO Corporation, attracted new customers including the NYC Department of
Transportation, which selected MagneGas2® for metal cutting and repairs, as well
as the New York Iron Workers Joint Apprentice Training Facility, which added
MagneGas2® to its training program for new iron workers."
"In September, we announced that MagneGas2® fuel was chosen by one of the
nation's largest recycling and waste disposal companies for maintenance and
repair of the company's fleet of trucks, its dumpsters and related machinery.
Our fuel will initially be used in six locations in one state with plans to
expand into eight more neighboring states in the region in the coming months."
"We have been successful in demonstrating MagneGas2® in the automotive industry.
We recently announced that a Fortune 100 global auto manufacturer based in the
mid-western United States successfully completed the MagneGas2® rollout at their
first factory and has begun the procurement process at a second factory.
Following successful demonstrations in the second factory, the automaker has
indicated an interest in continuing expansion into other factories as part of a
larger rollout program. This global auto manufacturer chose MagneGas2® to be its
exclusive fuel and to discontinue using acetylene for metal cutting due to its
faster cutting speed and hotter flame temperature compared to existing cutting
fuels. We believe that reducing costs as well as reducing down time on the
assembly line, will lead to other larger opportunities with this global customer
and others in the auto manufacturing sector."
"We continue to look for opportunities to increase equipment sales. In
September, we successfully completed construction of a 100kw Plasma-Arc
Gasification system as part of last year's purchase by Green Arc Supply,
expanding our presence into the Gulf Coast region. The Company has already
received milestone payments totaling $583,750 as a result of this Green Arc
Supply sale and will receive a final payment of $191,250 after the expected
delivery of the system by us by the end of 2016. We believe that this domestic
equipment sale will open the door to additional equipment sales nationwide."
"Last month, we signed a letter of intent for a $2.65 million sale of our
proprietary gasification and sterilization system, MagnesGas2® fuel and
cylinders to a company based in Germany. This transaction represents the largest
sale in our company's history. The LOI calls for exclusive distribution rights
in Germany, with an option to purchase the rights to other countries as well as
future unit purchase requirements and royalties on gas sales. The sterilization
system will be used in small service contracts with the goal of entering the
agriculture and municipal wastewater treatment markets in Germany. We believe
this transaction sets the stage for our expansion across Europe and globally."
"Our co-combustion project suffered a setback with the death of our operational
partner due to an undiagnosed medical condition. We are saddened by the loss of
our dear friend who was instrumental in the day to day management of our project
in Michigan. Our joint venture partners are taking the opportunity to re-examine
our project structure and will likely move it to Florida, closer to our gas
production and support teams. We expect to restart testing in January."
"Finally, we announced that we signed a non-binding letter of intent to purchase
all of the outstanding capital stock of a privately held coal combustion
environmental technology company that had revenue in excess of $14 million in
2015. The coal combustion company has historically generated consistent revenue
growth with meaningful profitability and has been in business for more than 20
years. The company services some of the largest utility companies in the United
States, and has benefitted from very high customer loyalty. They are working
with strategic partners to grow the technology platform globally and are
developing international markets. We believe that the acquisition of this coal
combustion technology company will bring significant value to MagneGas through
their product offerings, common marquee customers, and real world combustion
expertise with power companies. This acquisition, if closed, will be a major
milestone for MagneGas in terms of revenue and growth potential that will bring
significant shareholder value."
Third Quarter 2016 Financial Results
Revenues for the three months ended September 30, 2016 were $1,037,688 as
compared to $623,893 for the same period last year. For the three months ended
September 30, 2016 and 2015, we generated revenues from the industrial gas
segment of $676,518 compared to $623,893 last year. This increase was primarily
due to additional customers and distributors acquired through ESSI and the
results of marketing our Company.
Gross margins increased to 39% from 35% for the third quarter ending September
30, 2016 versus September 30, 2015. This improvement was in part due to
increased sales of our higher-margin offerings, including MagenGas2® and our
proprietary equipment sales.
Operating expenses increased approximately $580,000 for the third quarter ending
September 30, 2016 to $3.0 million from $2.4 million for the same period last
year. The increase in our operating expense in 2016 was primarily attributable
to the completion of our new headquarters and increased consulting expenses
related to research and development, investor relations, public relations and
new business development.
Conference Call
MagneGas' executive management team will host a conference call today, Monday,
November 14th at 10:00 a.m. Eastern Time to discuss the company's financial
results for the third quarter ending September 30, 2016, as well as the
Company's corporate progress and other meaningful developments.
Interested parties can access the conference call by dialing (877) 407-8031 for
U.S. callers or +1 (201) 689-8031 for international callers.
A teleconference replay of the conference call will be available approximately
one hour following the call, through midnight December 14, 2016, and can be
accessed by dialing (877) 481-4010 for U.S. callers or +1 (919) 882-2331 for
international callers and entering conference ID: 10151.
About MagneGas Corporation
MagneGas® Corporation (MNGA) owns a patented process that converts various
renewables and liquid wastes into MagneGas fuels. These fuels can be used as an
alternative to natural gas or for metal cutting. The Company's testing has shown
that its metal cutting fuel "MagneGas2®" is faster, cleaner and more productive
than other alternatives on the market. It is also cost effective and safe to use
with little changeover costs. The Company currently sells MagneGas2® into the
metal working market as a replacement to acetylene.
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.
The Company distributes MagneGas2® through Independent Distributors in the U.S
and through its wholly owned distributor, ESSI (Equipment Sales and Services,
Inc.). ESSI has four locations in Florida and distributes MagneGas2®, industrial
gases and welding supplies. For more information on ESSI, please visit the
company's website at http://www.weldingsupplytampa.com.
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.
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.
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 .
See the full tables at http://finance.yahoo.com/m/53baaffb-0e45-3829-adf4-24f31ba23c9b/ss_magnegas-announces-opening-of.html
Investor Contacts:
KCSA Strategic Communications
Philip Carlson
+1-212-896-1233
pcarlson@kcsa.com
SOURCE MagneGas Corporation
MagneGas2® Selected by One of Nations Largest Heavy Equipment
Rental Companies
Leading Equipment Rental Customer Expands
Use of MagneGas2® into New Jersey after Extended Use in Florida
TAMPA, FL – November 1, 2016 -- MagneGas® Corporation ("MagneGas®" or
the "Company") (NASDAQ: MNGA),
a leading technology company that counts among its inventions a patented process
that converts renewable and liquid waste into MagneGas2® fuel, announced today
that two locations of a leading heavy equipment rental company will be using
MagneGas2® for metal cutting and repairs. The equipment rental company has been
using MagneGas2® in Florida and now is expanding its use into a New Jersey
location. The customer has locations throughout the United States and Canada.
The fuel for the New Jersey location will be sourced by MagneGas Distributor
AWISCO Corporation. MagneGas and AWISCO partnered in a marketing effort aimed at
expanding the use of MagneGas2® in the New York and New Jersey markets. MagneGas
personnel demonstrated the fuel's superior metal cutting benefits with
assistance from the AWISCO sales team. The rental company primarily leases heavy
equipment and will use the fuel to repair that equipment at their hub in New
Jersey, where equipment repairs for that state are centralized.
"This marquee customer is just another example of our progress on strategy
execution. We have found more and more companies are interested in
environmentally friendly alternatives to acetylene for metal cutting. We believe
that MagneGas2 has been introduced at a time that is well suited for just such
an alternative fuel. To our knowledge, MagneGas2 is the only fuel made from a
renewable source. In addition, testing has shown that our fuel cuts 38% faster
than acetylene, making it a more productive fuel choice. We are currently in two
locations with this new customer and we believe this could lead to additional
market penetration in this segment," stated Ermanno Santilli, CEO of MagneGas.
The MagneGas IR App is now available for free in Apple's App Store for the
iPhone and 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 AWISCO
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 [website says 65] years.
About MagneGas Corporation
MagneGas® Corporation (MNGA) owns a patented process that converts various
renewables and liquid wastes into MagneGas fuels. These fuels can be used as an
alternative to natural gas or for metal cutting. The Company's testing has shown
that its metal cutting fuel "MagneGas2®" is faster, cleaner and more productive
than other alternatives on the market. It is also cost effective and safe to use
with little changeover costs. The Company currently sells MagneGas2® into the
metal working market as a replacement to acetylene.
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.
The Company distributes MagneGas2® through Independent Distributors in the U.S
and through its wholly owned distributor, ESSI (Equipment Sales and Services,
Inc.). ESSI has four locations in Florida and distributes MagneGas2®, industrial
gases and welding supplies. For more information on ESSI, please visit the
company's website at http://www.weldingsupplytampa.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 virgin vegetable oil to produce fuel while it configures its
systems to properly process waste within local regulatory requirements.
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.
Investor Contacts:
KCSA Strategic Communications
Philip Carlson
+1-212-896-1233
pcarlson@kcsa.com
SOURCE MagneGas Corporation
Fortune 100 Global Auto Company Expands Use of MagneGas2®
Fuel to Second Factory
After Successful Training, Top Auto
Manufacturer Indicates It Will Switch Second Factory to MagneGas2®
TAMPA, FL – October 3, 2016 -- MagneGas® Corporation ("MagneGas®" or
the "Company") (NASDAQ: MNGA),
a leading technology company that counts among its inventions a patented process
that converts renewable and liquid waste into MagneGas2® fuel, announced today
that a global auto manufacturing company based in the mid-western United
States has completed training on MagneGas2® and has begun the procurement
process at a second factory.
The Company previously announced that the auto maker chose MagneGas2® to be its
exclusive fuel at one of its mid-western factories and to discontinue using
acetylene after several successful demonstrations of the use of the fuel for
metal cutting. Since that time, the auto maker tested MagneGas2® at one of its
light truck manufacturing facilities in a
nearby state and has indicated that it will also switch this factory to the fuel
for metal cutting.
“This automobile manufacturing company is a leader in adopting renewable and
waste reducing technologies. We are excited that not only did we successfully
complete the MagneGas2 rollout at the first factory, but they were so happy with
its performance that they have expanded into a second location. We believe these
initial purchase orders will open the door to other larger opportunities with
this customer. This relationship is just one of several marquee customers that
have selected recently MagneGas,” stated Ermanno Santilli, CEO of MagneGas.
About MagneGas Corporation - 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.
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 virgin vegetable oil to produce fuel while it configures its
systems to properly process waste within local regulatory requirements.
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.
Investor Contacts:
KCSA Strategic Communications
Philip Carlson / Brad Nelson
+1-212-896-1233 / +1-212-896-1217
pcarlson@kcsa.com / bnelson@kcsa.com
by the SEC at http://www.sec.gov.SOURCE MagneGas Corporation
MagneGas Completes Purchase of 2,000 Additional Fuel
Cylinders to Accommodate Accelerating Demand for MagneGas2®
Company Receives Final Shipment of
Previously Announced 2,000 Cylinder Purchase Order to Accommodate Growing Demand
TAMPA, FL – September 26, 2016 -- MagneGas® Corporation ("MagneGas®" or
the "Company") (NASDAQ: MNGA),
a leading technology company that counts among its inventions a patented process
that converts liquid and renewable liquid into MagneGas2® fuel, announced today
that it has taken receipt of the final shipment of the previously announced
purchase order for 2,000 fuel cylinders. This purchase was the result of a
growing demand for MagneGas2® which has created a customer backlog.
The Company believes the additional demand is a direct result of its sales
penetration into key vertical market segments including utilities, demolition
companies, first responder markets and major manufacturing companies. Several
existing customers have expanded their use of MagneGas2® into additional
facilities. Other large potential customers are currently
testing MagneGas2®.
“We have begun to see the end result of our strategy which is to grow our gas
distribution business through the use of MagneGas2® as a door opener. We
estimate that the industrial gas business grows at approximately a 2% rate.
However, our industrial gas segment, which not only includes MagneGas2® but
welding supplies and other gases, has increased at an almost 20% rate. We
believe this is a direct result of customers’ use of MagneGas2® which we believe
is a superior product that leads to further sales of the Company’s products. We
look forward to seeing the impact of these new cylinders on revenue in the
coming months as we continue to expand nationwide,” commented Ermanno Santilli,
CEO of MagneGas Corporation.
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
MagneGas® Corporation (MNGA) owns a patented process that converts various
renewables and liquid wastes into MagneGas fuels. These fuels can be used as an
alternative to natural gas or for metal cutting. The Company's testing has shown
that its metal cutting fuel “MagneGas2®” is faster, cleaner and more productive
than other alternatives on the market. It is also cost effective and safe to use
with little changeover costs. The Company currently sells MagneGas2® into the
metal working market as a replacement to acetylene.
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.
The Company distributes MagneGas2® through Independent Distributors in the U.S
and through its wholly owned distributor, ESSI (Equipment Sales and Services,
Inc.). ESSI has four locations in Florida and distributes MagneGas2®, industrial
gases and welding supplies. For more information on ESSI, please visit the
company’s website at http://www.weldingsupplytampa.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 virgin vegetable oil to produce fuel while it configures its
systems to properly process waste within local regulatory requirements.
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.Investor Contacts:
KCSA Strategic Communications
Philip Carlson
+1-212-896-1233
pcarlson@kcsa.com
SOURCE MagneGas Corporation
MagneGas Successfully Completes Gasification System Construction for Expansion
into Gulf Coast
Agreements call for $775,000 Equipment
Sale, Royalty Payments and Future Expansion Rights with Additional Equipment
Sales
TAMPA, FL – September 22, 2016 -- MagneGas® Corporation ("MagneGas®" or
the "Company") (NASDAQ: MNGA),
a leading technology company that counts among its inventions a patented process
that converts renewable and waste liquids into MagneGas2® fuel, announced today
that it has successfully completed construction of the Plasma-Arc Gasification
system (the “System”) that was previously announced as contracted for sale (the
“Gasifier Agreement”) to Green Arc Supply, LLC of Louisiana (“Green Arc”).
Pursuant to the terms of the Gasifier Agreement, the Company has received a
total of $583,750 towards the construction of the system. The final payment of
$191,500 is due upon factory acceptance, which is expected in the next 30 days.
A Distribution and License Agreement with Green Arc (the “Distribution
Agreement”) signed at the same time as the Gasifier Agreement calls for Green
Arc to pay MagneGas royalty payments that equate to approximately 6% of gross
sales of MagneGas2® fuel and other products by Green Arc.
Under the terms of the Distribution Agreement, once the final payment is made,
Green Arc will have exclusive distribution rights to MagneGas2® for certain
regions of Louisiana and Texas with non-exclusive distribution rights in
remaining regions of Louisiana and Texas and all of Arkansas, Mississippi and
Oklahoma. Green Arc has the right to expand their exclusivity in
those states with the purchase of additional systems. The Company believes the
Distribution Agreement may result in further significant capital infusions for
the Company through royalty payments and further equipment sales.
Ermanno Santilli, CEO of MagneGas Corporation stated: “Completing construction
of the System is the single most important event of this year as it signifies a
new era in the Company’s operating model. Reaching this milestone shows that the
Company is not only able to perform at a high productivity level but that it has
the ability to be an extremely capable manufacturer. I look forward to expanding
our relationship with Green Arc as we seek to grow MagneGas2® sales throughout
the Gulf Coast region.”
About MagneGas Corporation
MagneGas® Corporation (MNGA) owns a patented process that converts various
renewables and liquid wastes into MagneGas fuels. These fuels can be used as an
alternative to natural gas or for metal cutting. The Company's testing has shown
that its metal cutting fuel “MagneGas2®” is faster, cleaner and more productive
than other alternatives on the market. It is also cost effective and safe to use
with little changeover costs. The Company currently sells MagneGas2® into the
metal working market as a replacement to acetylene.
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.
The Company distributes MagneGas2® through Independent Distributors in the U.S
and through its wholly owned distributor, ESSI (Equipment Sales and Services,
Inc). ESSI has four locations in Florida and distributes MagneGas2®, industrial
gases and welding supplies. For more information on ESSI, please visit the
company’s website at http://www.weldingsupplytampa.com
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.
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 virgin vegetable oil to produce fuel while it configures its
systems to properly process waste within local regulatory requirements.
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.
Investor Contacts:
KCSA Strategic Communications
Philip Carlson
+1-212-896-1233
pcarlson@kcsa.com
SOURCE MagneGas Corporation
----------------------------------------------------------------------------------------------------
Summary of the MagneGas Technology:
MagneGas Corporation is a waste to energy company that converts liquid waste
into a hydrogen based fuel. The Company owns the patents to this revolutionary
technology called “Plasma Arc Flow.” The PLASMA ARC FLOW™ process gasifies or
sterilizes a number of liquid wastes and produces a gaseous fuel known as
MagneGas.™ MagneGas is a cost competitive and clean burning fuel that is
essentially interchangeable with Natural Gas or it can be co-combusted with
existing hydrocarbon fuels and has the lowest Green House gas emissions when
compared to fossil fuel. The Magnegas system occupies a small footprint and runs
in a completely sealed environment. The fuel can be used for metal cutting,
cooking, heating, or powering natural gas bi-fuel automobiles.
MagneGas™ Fuel Can be Used to:
Transportation Fuel
Metal Cutting
Cooking
Heating
Co-Combustion with Fossil Fuels
MagneGas™ Recyclers Can Process:
Sewage
Sludge
Agricultural Waste
Leachates
Oil Based Liquids*
Industrial Waste Liquids*
*Certain Oil and Industrial Waste Liquids Require Further Testing, or Mixing
with Water or other Liquids to Process.
The patented technology is called Plasma Arc Flow™ and it is based on flowing
the target liquid waste through a submerged electric arc between two electrodes.
The arc decomposes the liquid molecules into atoms and forms a plasma around the
tips of the electrodes at about 10,000°F / 5,500 C. The Plasma Arc Flow moves
the plasma away from the electrodes and controls the formation of MagneGas that
rises to the surface for collection.
The Plasma Arc Flow technology converts most liquid waste into a clean fuel
called MagneGas. MagneGas is a cost competitive synthetic gas made from many
liquid wastes such as sewage, sludge, animal manure, glycerin, used antifreeze,
some oil based liquids and waste water. MagneGas is a hydrogen based fuel that
has a combination of hydrogen, carbon monoxide and inert trace gases.
MagneGas exhaust has been certified by an automotive laboratory accredited with
the E.P.A. to surpass all E.P.A. requirements without a catalytic converter, and
is the only fuel that produces oxygen when it burns, making it dramatically
cleaner than gasoline, diesel, and natural gas. MagneGas is composed of hydrogen
(55-65%), carbon monoxide (30-35%), carbon dioxide (1-2%), water vapor (2%), and
trace gases (0.5-1%).
The MagneGas Recyclers have two operating modes:
“GASIFICATION MODE” is suitable to completely gasify target liquids for the
maximum conversion of liquid to fuel and is most suitable for oily or hazardous
wastes that require elimination. The waste is converted into MagneGas and carbon
precipitates. In this mode the liquid is completely gasified.
“STERILIZATION MODE” is intended solely to sterilize target liquid wastes such
as sewage, agricultural wastes or any effluent where eliminating bacteriological
activity is beneficial to convert the waste liquid into a fertilizer and
irrigation water. This results in the production of MagneGas, carbon
precipitates and the same quantity of sterilized liquid. In this mode the liquid
is retained but completely sterilized.
PRODUCTS
Metal Cutting and Welding Gas
MagneGas™ is the new GREEN metal cutting and welding fuel. Independent users
report that the gas cuts cleaner, faster and safer with little or no slag.
MagneGas produces higher quality cleaner cuts with narrower kerf, less slag, no
top edge rollover and a smaller heat affected zone.
MagneGas Recyclers
MagneGas™ custom builds recyclers to the specification of its customers.
Products range from a 50KW unit that produces MagneGas for a metal cutting shop
up to a 1 megawatt plant capable of processing various liquid waste in high
volume. Gasification Mode is for the processing of oil based or hazardous liquid
waste and the maximization of fuel production are available in various
configurations via direct sales. Sterilization Mode to process sewage, sludge or
manure require the purchase of a 50kw or 100kw TEST unit to conduct all onsite
testing after which time an Industrial high volume unit can be constructed to
exact specifications. The test unit will be used to conduct onsite liquid
testing to ensure local regulatory approval prior to the construction of the
industrial mode
Co-Combustion of MagneGas with Hydrocarbon Fuels
MagneGas fuel has a very high combustion flame temperature of 10,500 F or 3,800
C as independently verified by the City College of New York. The Company
believes the higher the temperature, the more complete the combustion of the
fuel and the cleaner the emissions. The Company conducted preliminary testing in
Australia and the United States. Each fuel tested resulted in a reduction of CO2
of 30-40%, an increase in heat output and significant reductions in CO and other
pollutants. The Company believes these results offer power companies and other
industries a significant value. The Company is working with potential customers
in the United States, Mexico, Germany, Italy and Australia with various
hydrocarbon fuels and is finding global interest in this business line.
MagneTotes and Backpacks
MagneGas has launched a new innovative family of MagneTote™ cutting systems.
First designed for firefighters in need of a portable and light weight cutting
system, these MagneTotes™ are finally available to the public for purchase.
There are two systems available for purchase. The first is the MagneTote™ which
is a lightweight aluminum cage designed to securely hold two portable aluminum
cylinders containing oxygen and MagneGas®. It also comes with a detachable
torch, hose and extra tips. The second emergency extraction package is designed
to be worn as a backpack holding all of the same equipment. The cage can unclasp
and open for immediate access to the hose and torch, which allows for a speedy
setup and easy use. These compact and portable systems provide the user with up
to an hour of life saving cutting time
Below are different pricing options:
Broco Pack Canvas Package $ 2, 159.95/ea.
MagneTote Aluminum Package $ 1,798.95/ea.
*These packages come complete with torch, hose, tips and cylinders.
MagneGas has developed a special leasing program for fire departments across the
United States. Departments can lease a full cradle of MagneGas as a simple and
cost effective refill station for their 40cf cylinders.
Company
Management Team
Ermanno P. Santilli
Chief Executive Officer, Interim President
Mr. Santilli has invested over 15 years with Fortune 500 brands such as Club
Car, Bobcat, Thermo King, and Trane at Ingersoll Rand Company. He successfully
stewarded global and international businesses with diverse teams of sales,
marketing, engineering, sourcing, finance, and distribution. After graduating
with a Bachelors of Science Degree from the prestigious Boston College Carroll
School of Management, Mr. Santilli obtained a Masters of Business Administration
from the Indiana University Kelley School of Management. More recently, Mr.
Santilli founded MagneGas Europe where he became an expert in the MagneGas
technology and business model and its various applications.
Luisa Ingargiola
Chief Financial Officer, Director, Secretary
Luisa Ingargiola graduated in 1989 from Boston University with a Bachelor Degree
in Business Administration and a concentration in Finance. In 1996 she received
her Master’s Degree from the University of South Florida. In 1990 she joined
Boston Capital Partners as an Investment Advisor in their Limited Partnership
Division. In this capacity, she worked with investors and partners to report
investment results, file tax forms and recommend investments. In 1992 she joined
MetLife Insurance Company as a Budget and Expense Manager. In this capacity she
managed a $30 million dollar annual budget. Her responsibilities included budget
implementation, expense and variance analysis and financial reporting.
Jack Armstrong
Executive Vice President of Strategic Alliances
Mr Armstrong has over 20 years experience in the capital markets. He was a
Managing Director at Piper Jaffray, Head of Trading at ThinkEquity Partners and
recently the Senior Vice President of the Corporate Client Group at Northland
Capital Markets assisting companies in strategy and capital raises. Over his
career Mr. Armstrong has worked with senior level management at several of the
largest investment companies through the process of raising an estimated $5
billion of funds over his career. Mr. Armstrong received a Bachelors of
Administration in Economics from Arizona State University. “We have been
impressed by Mr. Armstrong’s ability to clearly see the value of our business
model. His capability to convincingly communicate our products and strategy to
the market will be very valuable for MagneGas,” stated Luisa Ingargiola, CFO.
Richard Conz
Vice President of Engineering
Mr. Richard J. Conz is an accomplished professional with more than twenty-nine
years of new business development, program management, and engineering
experience. His expertise includes component and system design, integration and
test, production, deployment and maintenance for C4ISR, Electronic Warfare,
Security, Weather, Emergency Management, and Engine Control systems. He is
well-trained and versed in strategy development, scoping, planning, execution,
and budget/resource management, from initiation through implementation.
In 2011, he received a patent for performing complex cost/performance trades to
determine system best value solutions for surveillance systems. In 2013, Mr.
Conz launched a successful consulting business, providing business development,
program management, and engineering services. In this role, he provides
leadership and direction in Market Analysis, Business Intelligence, Price-To-Win
assessments, and has a solid reputation as a C4ISR and security systems Subject
Matter Expert (SME). He received his Bachelor of Science degree in Electrical
Engineering from Wayne State University. Mr. Conz possesses a Security
Clearance, and is a certified Program Manager, certified Capture Manager, and
Six Sigma certified.
John Pace
Vice President of Liquid Waste to Energy Sales
Mr. Pace is a twenty plus year sales and marketing veteran and one of the three
Co-Founders of Ideal Image Development Corporation, the largest and most
successful franchise chain in the industry. After providing sales, marketing and
production services which helped to create strong brand recognition, Mr. Pace
launched Ideal Image’s national franchise campaign and set multiple sales
records for a first year start-up company.
Technology Founder, Former Chairman & Chief Scientist
Dr. Ruggero Maria Santilli
CV: http://www.world-lecture-series.org/santilli-cv
Currently President and Chief Scientist of
Thunder Fusion Corporation
Dr. Santilli initiated the MagneGas technology in 1998 via the identification of
the new chemical species of magnecules from which he suggested the name of
“MagneGas” for the fuel produced.
Ruggero Santilli was born and educated in Italy where he achieved his Ph.D., the
highest possible education in mathematics and physics, as well as a chair in
nuclear physics at the Avogadro Institute in Turin. In 1967 Santilli was invited
by the University of Miami in Florida to conduct research for NASA and he moved
with his family to the U.S.A. where he subsequently became a U.S. citizen. In
1968 he joined the faculty of Boston University, under partial support from the
U.S. Air Force, where he taught physics and applied mathematics from prep
courses to seminar post-Ph.D. courses. In 1975-1977 he went to MIT and from 1978
to 1983 he was a member of Harvard University where he received five grants from
the U. S. Department of Energy to study a generalization of quantum mechanics
and chemistry needed for new clean energies and fuels. Since 1984 he is the
President of the Institute for Basic Research, originally located in a Victorian
inside Harvard University and moved to Florida in 1990. Santilli is the author
of some 250 technical articles and 18 post Ph.D. level monographs in
mathematics, physics, cosmology, superconductivity, chemistry and biology
published the world over. He is the founding editor of three journals in
mathematics and physics and editor of several others. Santilli is known in
mathematics for the discovery of a series of new numbers, now called “Santilli
iso-, geno-, hyper- and isodual-numbers” and other discoveries; he is known in
physics as the originator of “hadronic mechanics”, the only known consistent
broadening of quantum mechanics predicting new clean energies; and he is known
in chemistry as the originator of “hadronic chemistry”, a broadening of quantum
chemistry developed for the study of new clean fuels. Santilli is among the most
illustrious applied mathematicians of all times; he received two gold medals for
scientific merits; and the listing as “Santilli Hall” of a class room at an
Australian research center. Since the 80s, he has been recommended by scholars
around the world to the nominations for the Nobel Prize in physics as well as in
chemistry. A scientific meeting was organized in June 2005 at the University of
Karlstad, Sweden, to honor Santilli’s 70-th birthday with participation of
scientists from 50 countries.
SOURCE: MagneGas® Corporation
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financial regulatory bodies. Investment in the securities of the companies
discussed in this release is highly speculative and carries a high degree of
risk. FNMG is not liable for any investment decisions by its readers or
subscribers. Investors are cautioned that they may lose all or a portion of
their investment when investing in stocks. This release is not without bias, and
is considered a conflict of interest if compensation has been received by FNMG
for its dissemination. To comply with Section 17(b) of the Securities Act of
1933, FNMG shall always disclose any compensation it has received, or expects to
receive in the future, for the dissemination of the information found herein on
behalf of one or more of the companies mentioned in this release. For
current services performed FNMG was compensated one thousand nine hundred dollars for MagneGas
Corp. news coverage by the company. FNMG HOLDS NO SHARES OF MagneGas Corp.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and FNMG undertakes no obligation to update such
statements.
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