MagneGas2® Selected for Long Island Railroad Brooklyn Accident Repairs
TAMPA, Florida, February 14, 2017 /PRNewswire/ --
LIRR Recovery Team Used MagneGas2® for its Metal Cutting Fuel During Incident Recovery Efforts
MagneGas Corporation ("MagneGas®" or the "Company") (Ticker Symbol: MNGA ) a leading technology company in the renewable resources and environmental solutions industries, announced today that it was informed that MagneGas2® was the fuel of choice for metal cutting and repairs on the Long Island Railroad ("LIRR")'s January 2017 refurbishment project in Brooklyn, New York.
The LIRR experienced an accident in January of 2017 on a section of rail road in Brooklyn, New York. The accident impaired much of the structural steel and railway surrounding the accident site. Soon thereafter, the LIRR recovery team was deployed to repair the rail and surrounding structure, remove the train and restore service. There was significant steel repair required that was time sensitive and had to be performed indoors, in tight quarters.
The Company believes that MagneGas2® was selected over other fuels for this project due to its faster cutting speed and ease of use. The fuel was sourced from MagneGas's New York distributor, AWISCO.
In 2016, MagneGas® and AWISCO partnered in a marketing effort to expand the use of MagneGas2® in the New York and New Jersey markets. As part of its marketing plan MagneGas® personnel demonstrated the fuels' superior metal cutting benefits throughout the region with assistance from the AWISCO sales team. In January of 2017, the LIRR maintenance and safety teams incorporated MagneGas2® as an alternative to acetylene for various repair projects as part of its refurbishment project.
"Although this was a tragic accident, we are honored that MagneGas2® was selected for such an important project. The contractors on the project had the opportunity to choose from a variety of metal working fuels available today. The fact that they selected MagneGas2® solidifies our belief about the superior qualities of the fuel. Being the only fuel in our industry known to us that is created from a renewable source, testing has shown that it cuts 38% faster than acetylene - the primary market alternative to MagneGas2® - making it a more efficient fuel choice. We are pleased the refurbishment project was successful and that we were able to play a role in restoring service to the LIRR," stated Ermanno Santilli, CEO of MagneGas.
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AWISCO is a leading supplier of industrial gas and welding supplies in the tri-state area of New York, Connecticut and New Jersey with an international expansion location in Florida. The Company is a full line supplier for the welding industry and has been in business for over 65 years.
About MagneGas Corporation
MagneGas® Corporation ("Company" or "MagneGas®") 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 acetylene 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 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 distributor, Equipment Sales and Services, Inc. ("ESSI"). ESSI has four locations in Florida and distributes MagneGas2®, industrial gases and welding supplies. For more information on ESSI, please visit the company's website at http://www.weldingsupplytampa.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.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission ("SEC"). 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.
KCSA Strategic Communications
SOURCE MagneGas Corporation
Released February 14, 2017