MagneGas Corp MNGA

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MagneGas Significantly Expands Relationships with its Largest Distributors
 
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TAMPA, FL -- (Marketwired) -- 11/01/17 -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today that its three largest MagneGas distributors (Holston Gases, Haun Welding Supply and AWISCO) have all agreed to significant increases in MagneGas2® purchases due to increased end market demand.
 
As part of the agreement, the distributors have agreed to minimum purchases to maintain areas of preferential treatment, which, based on current projections, would represent a minimum three-fold increase in sales from these distributors beginning in the fourth quarter of 2017.
 
"Our sales team has done an excellent job expanding and improving our most important distributor relationships now that MagneGas2® is produced from butanol," commented Ermanno Santilli CEO of MagneGas.
 
 "We have focused our initial efforts on the Eastern U.S., and this increase in product demand is a clear indication that we are making a strong impression in the market, and our technology is winning market acceptance. Beyond the minimums required to maintain area exclusivity, we see significant further upside potential, as we have not even penetrated the majority of these distributor's branches. Our plan is to install a gasification unit near each of these key distributors in order to meet the anticipated demand requirements."
 
"The shift to butanol as our primary feedstock has had a meaningful impact on our ability to compete in the industrial gas marketplace," commented Scott Mahoney, CFO of MagenGas.
 
 "Our technology has always excited end users, and now, our dramatic reductions in productions costs coupled with lower delivery costs have enabled our Company to serve the growing market demand with a significant improvement in our bottom line.