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MagneGas Corp. (MNGA) Adds Ajax Paving, Expands Michigan Footprint

|Includes: MagneGas Corporation (MNGA)

Yesterday, MagneGas announced the addition of Ajax Paving Industries to its client list, as well as initiated operations in Michigan with the completion of its new 300kw refinery and acquisition of necessary permits.

Based in Tampa, FL, MagneGas produces the MagneGas product, which is a natural gas alternative and metalworking fuel that is made from certain liquid wastes. This is accomplished through MagneGas' patented Plasma Arc Flow process, which gasifies liquid waste, and results in a product that is usable in applications where natural gas would normally be present.

With the announcements came the revelation that Ajax would be converting from acetylene to MagneGas fuel in its Michigan manufacturing plants. Further, Ajax expressed plans to make the change to all the company's locations, which extend to the west coast of Florida, as a cost-cutting measure.

Scott Wainwright, president of MagneGas, said, "Adding Ajax Paving Industries to our growing list of customers is another significant win for MagneGas. As we continue to successfully execute on our growth strategy, we will further expand upon the strong foundation we have already built in the metal cutting market."

Rick Sparkman, Equipment Operations Manager for Ajax Paving Industries, added, "As we began testing MagneGas, we were amazed by its absolute precision and performance in metal cutting. We are very excited to begin using MagneGas as it not only presents a viable 'green' option for our company, but it will also help us reduce costs and improve overall efficiency in our metal cutting operations."

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