MagneGas Ramps Up Production After Equipment Upgrades
Seeking Alpha Analyst Since 2009
MagneGas (NASDAQ:MNGA) is ramping up gas production after upgrading its gasification unit design and related equipment and procedures.
"Today I am pleased to announce the re-start of gasification and the ramp up of MagneGas 2 production. Our team has been working very hard to re-start gas production and used this period to upgrade designs, equipment and safety procedures," saidMagneGas's CEO, Ermanno Santilli.
The reputation of the Tampa, Florida based company) is growing rapidly, attracting interest from an ever more diversified group of new and potential customers, after earning the trust of the Central Florida Fire Rescue Department and the US Navy.
The company's promising hydrogen-based fuel is looking to make waves in the industry as a greener natural gas alternative that has lower emissions than any fossil fuel currently on the market.
The US patented hydrogen-based gas is cheaper, uses 34 percent less oxygen and also dissipates into the air quickly in the event of a leak unlike acetylene, which pools on the ground, creating a major risk for an explosion. Features also include a smaller heat-affected zone, better stability and a lighter fuel composition.
MagneGas has also launched an aggressive sales effort for liquid waste processing, pursuing international customers through social media, industry events and a network of independent brokers.
The company is also making progress in the marketing of MagneGas2(R) for the co-combustion of hydro-carbon fuels with greater efficiency and the significant reduction of emissions.
MagneGas's shares closed at US$1.24 yesterday within the range of a high for the year of US$1.50
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