MagneGas Signs $2.7 Million Agreement with Clear Sky Energy S.A. de C.V. of
Definitive Agreements Signed, Initial Deposit Received for the Sale of a
MagneGas Gasification System for $2.7 Million
TAMPA, Fla., April 2, 2013
TAMPA, Fla., April 2, 2013 /PRNewswire/ --MagneGas Corporation ("MagneGas" or
the "Company") (NASDAQ: MNGA), the developer of a technology that converts
liquid waste into a hydrogen-based metal working fuel and natural gas
alternative, announced today that it has signed definitive agreements with
Clear Sky Energy S.A. de C.V. ("CSE") in which CSE will purchase a Plasma Arc
Flow™ gasification system from the Company for an aggregate purchase price of
$2.7 million plus 5% royalties. In addition, CSE will be an exclusive
distributor for MagneGas products and services in Mexico.
"CSE is very pleased to represent the MagneGas technology in Mexico. The
opportunities in front of us are numerous and broad in scope. We feel the
MagneGas technology will have a significant impact in the industrial gas,
sewage treatment and hazardous waste treatment markets. We are confident that
the combination of CSE's access to markets coupled with the MagneGas
technology will result in several significant opportunities to satisfy the
growing demand for Liquid Waste to Energy solutions in Mexico," said Manuel
Juan Marcos, CEO of CSE.
"We were amazed by the access to markets CSE has in Mexico. The recent
demonstration to potential CSE customers was well managed and tremendously
convincing," stated MagneGas CEO Ermanno Santilli. "MagneGas provided a mobile
unit for testing in Mexico and the CSE team brought oil wastes from around the
country. Together we performed a live demonstration of oil wastes being
gasified by our recycler, MagneGas feeding a generator and electricity being
produced on demand. The customer feedback was very positive."
The MagneGas IR App is now available for free in Apple's App Store for the
iPhone or iPad http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk
for Android mobile devices.
To be added to the MagneGas investor email list, please email
email@example.com MNGA in the subject line.
About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: MNGA) is the
producer of MagneGasa, a natural gas alternative and metal working fuel that
can be made from certain industrial, municipal, agricultural and military
liquid wastes following the receipt of appropriate governmental permits.
The Company's patented Plasma Arc Flowa process gasifies liquid waste,
creating a clean burning hydrogen based fuel that is essentially
interchangeable with natural gas. MagneGasa can be used for metal working,
cooking, heating, powering bi fuel automobiles and more. For more information
on MagneGas, please visit the Company's website at www.MagneGas.com.
CSE, formed in 2010, focuses on the development and distribution of
sustainable, green energy technologies in Mexico. In particular Clear Sky
Energy maintains a focus on helping the energy industry in Mexico dispose of
traditionally challenging waste and waste material in ways that are
significantly more environmentally conscious and friendly when compared to
current methods. CSE and its principals have deep ties to the energy industry
in Mexico. CSE will be a leader in assisting companies deal responsibly with
newly adopted regulations aimed at better protecting citizens and the
environment in Mexico and Latin America.
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 new ethylene
glycol to produce fuel until proper permits to process used liquid waste have
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.
SOURCE MagneGas Corporation
Contact: Investor Contacts: KCSA Strategic Communications, Philip Carlson, +1
212.896.1233, firstname.lastname@example.org, or Brad Nelson, +1 212.896.1217,
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