City of San Diego Adopts MagneGas Metal Cutting Fuel
28 Janvier 2019 - 6:00PM
Major New Client Win in Southern
California
MagneGas Applied Technology Solutions, Inc. ("MagneGas" or
the "Company") (NASDAQ: MNGA), a leading clean technology
company in the renewable resources and environmental solutions
industries, announced today that the City of San Diego has elected
to use MagneGas as its metal cutting fuel of choice, marking the
first major city contract for the adoption of our metal cutting
fuels. The City of San Diego has historically used acetylene
to maintain a wide range of equipment used for waste removal,
maintenance and infrastructure support and as of this contract, the
City will immediately begin adoption of MagneGas’ cleaner and safer
fuel products. In addition, the San Diego Continuing Education
Cultural Complex (“ECC”) has elected to begin using MagneGas for
the training and recertification of welders in the southern
California market.
“We are grateful for the opportunity to serve
the City of San Diego and the San Diego Continuing Education
Cultural Complex,” commented Scott Mahoney, Chief Executive Officer
of MagneGas. “We have been steadily marketing our propriety
metal cutting fuel for one year since acquiring Complete Welding of
San Diego in January of last year.”
“We have been presenting our unique capabilities
through periodic live demonstrations of our technology, and we have
been patiently supporting the local market as we gained the trust
and confidence of some of the largest consumers of metal cutting
fuels in the southern California market. The City of San
Diego’s decision to adopt our product is a major milestone in our
growth efforts in California.”
Mr. Mahoney concluded, “We are also very proud
of our new relationship with the San Diego Continuing Education
Cultural Complex. This is one of the premier training and
recertification centers for welders in southern California, and
we’re proud to help shape this aspect of the curriculum going
forward. This relationship will quickly serve as a powerful
platform for promoting our products and building new client
relationships across the southern part of the state. Being deeply
involved in the educational aspect of this industry is
strategically important because we have the responsibility to train
the next generation of welders on the newest and safest
technologies and have them carry it forward in their careers.”
About MagneGas Applied Technology
Solutions, Inc.
MagneGas Applied Technology Solutions, Inc.
(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
decontamination of 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
distributors, ESSI, Green Arc Supply, Paris Oxygen, Latex Welding
Supplies, Tyler Welders Supply, United Welding Supplies, Trico
Welding Supply and Complete Welding of San Diego. The Company
operates 17 locations across California, Texas, Louisiana, and
Florida.
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:Tirth PatelEdison AdvisorsT:
646-653-7035tpatel@edisongroup.com
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