TARPON SPRINGS, Fla., Dec. 14, 2015 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (MNGA), a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas2® fuel, has been named The New Economy's overall winner of the Best Alternative Fuel Solutions 2015 award category.
This award recognizes MagneGas for its success in using the patented Plasma-Arc Gasification to provide a clean, safe, and efficient fuel that prioritizes a lower rate of CO2 emissions, waste management, resource preservation, and more. The 2015 New Economy Award winners across all categories include: ConocoPhillips, Apple, ValPak and Sky Solar.
The Clean Tech Awards are presented by The New Economy (TNE), a quarterly publication whose goal is to stimulate financial investment and encourage discussion and debate of appropriate strategies for the promotion of global economic growth. MagneGas is featured as an award winner in the TNE winter digital and print publication with world-wide distribution.
A link to The New Economy website can be found here: http://www.theneweconomy.com/
A link to The New Economy awards can be found here: http://www.theneweconomy.com/awards/2015
Since the inception of the Clean Tech Awards in 2011, The New Economy has typically awarded industry-leading companies who are pioneers in disrupting global industries, creating viable business models for the marketplace, solving environmental challenges and furthering economic development. Previous Clean Tech Award Winners include Chevrolet, Google, General Electric Company, Carnival Corporation, and more. This year's 2015 award winners were officially announced today.
"We are honored to be gifted such a prestigious award from The New Economy," states MagneGas CEO, Ermanno Santilli. "It's gratifying to see that our innovative Plasma-Arc Gasification is being recognized for the incredible potential it has for making the world a better place."
There was no charge to MagneGas for the Award Nomination or Selection. After the Award was determined and presented, MagneGas elected to publish paid advertising in the New Economy publication at a cost of $24,863.
About MagneGas Corporation
MagneGas® Corporation (MNGA). The Company owns a patented process that converts various liquid wastes into hydrogen based fuels. These fuels can be used as a replacement to natural gas or for metal cutting. The Company's testing has shown the fuels are faster, cleaner and more productive than other alternatives on the market. They are also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas® into the metal working market as a replacement to acetylene.
The MagneGas fuel production systems can be set-up locally using various types of feedstock. The Company believes this flexibility can give them an advantage in the Government/Military marketplace as fuels can be manufactured on site from raw materials found locally worldwide and eliminates the time and expense of shipping to the specific military theater. The Company is planning to establish joint ventures with third parties to construct these supply facilities worldwide.
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.
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.
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SOURCE MagneGas Corporation