TAMPA, Florida, January 24, 2017 /PRNewswire/ --
Top U.S. Automaker Recurring Orders of MagneGas2® Prompts Company to Expand into Indiana Market with Direct Sales
MagneGas Corporation ("MagneGas" or the "Company") (MNGA) a leading clean technology Company in the renewable resources and environmental solutions industries, announced today that it has expanded into the Indiana market with direct sales of industrial gases, welding supplies, and MagneGas2® as a result of recurring sales to a Fortune 100 top U.S. automaker in the region.
In July 2016, the Company announced that a U.S. automaker had adopted MagneGas2 for an initial manufacturing facility. This relationship expanded to include a second facility in Indiana in October 2016. The facilities produce light trucks and automobiles, using MagneGas2® for metal cutting and repairs.
As a result of this success, MagneGas hired an experienced industrial gas sales executive to support this key client. This new sales executive will also be responsible for expanding the Company's client base and establishing a new industrial sales and welding supply footprint for MagneGas Welding Supply in the Midwest.
In addition, the Company believes this expansion will facilitate other industrial gas sales and related products to the automaker and will attract additional customers in the vicinity.
"We are pleased that this global industrial client has seen the value of MagneGas2 and sought to expand our relationship over the past six months," stated Ermanno Santilli, CEO of MagneGas Corporation.
"By adding a highly experienced local market expert to our sales team, we believe we can leverage the opportunity to expand our market presence in the industrial gases and welding supply business in the Midwest. This is key step in our 2017 strategy to expand MagneGas Welding Supply through organic growth and acquisitions."
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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.