May 26, 2017 - 9:30 AM EDT
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NetworkNewsBreaks – MagneGas Corp. (NASDAQ: MNGA) Issues Update On Client Growth

MagneGas (NASDAQ: MNGA) this morning provided an update on the status of the company’s client growth, including news that new client acquisitions for 2017 are paced to grow at the fastest rate in company history. Additionally, the average sales per client are growing at the fastest pace since MagneGas acquired Equipment Sales & Service Inc. (ESSI) in 2014. MagneGas and its subsidiary have increased their average revenues per client by 272% from 2014 to 2017. “When we acquired ESSI in 2014, we were optimistic that we could leverage the acquired customer base and an experienced sales team to demonstrate the efficacy of the MagneGas2® product. Little more than 2 years later, we now have very clear data to prove that our product is a differentiating factor. We are actively growing our customer base and expanding our client relationships at rates well above industry standards. We anticipate accelerating this growth as we continue to expand our sales team and add new locations to our growth model,” CEO Ermanno Santilli stated in the news release.

To view the full press release, visit: http://nnw.fm/42pC8

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, please visit the company’s website at www.MagneGas.com.

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Source: NetworkNewsWire (May 26, 2017 - 9:30 AM EDT)

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