Tampa, Florida – June 16, 2009 – MagneGas Corporation (“MagneGas” or the “Company”) (OTC BB: MNGA), a producer of a metal cutting fuel and natural gas alternative made from liquid waste, announced today that it has begun inroads into the $680 million metal cutting fuel market through a fuel distribution agreement with Florida-based Crumpton Welding Supply (“Crumpton”).
Crumpton will immediately begin selling MagneGasTM, created from non-hazardous liquid waste, to their 4,500 customers through their offices in Tampa, St. Petersburg, Auburndale and Port Charlotte. MagneGasTM exceeds all EPA air emission requirements and is a new green fuel technology for this market. Crumpton will submit purchase orders based on customer demand and sufficient to maintain inventory at each if its four distribution centers; it has already placed its first order to begin MagneGasTM market introduction.
“We are very pleased to begin our efforts into the $680 million[1] metal cutting and welding fuel market with a distributor like Crumpton,” stated MagneGas President Richard Connelly. “A family-owned business celebrating its 49th year, they pride themselves on their industry expertise and are committed to promoting new green technologies. We feel it is the perfect firm to introduce to established customers an innovative green product like MagneGasTM.”
“On the strength of these merits we will take a very active approach to educating and converting Crumpton’s existing 4,500 customers. MagneGas will partner with Crumpton’s inside sales team to personally demonstrate the value of our product to each customer, and we will attend each Crumpton Open House to further cement our presence. We are confident that we can make immediate progress in this market, and using this as a test case we can stage a roll-out of learned best practices to the national metal cutting market.”
Charlie Crumpton, President of Crumpton Welding Supply stated, “By including MagneGasTM in our portfolio we are now able to offer our clients and our expanding customer base a true green gas technology that we have never seen before in the welding gas arena. We look forward to increased sales results by promoting the benefits of this technology to our entire marketplace.”
This is the fifth potential revenue channel MagneGas has opened in the last 90 days. It also previously announced:
- The receipt of a $1.2 MM purchase order and launch of the Philippines and Vietnam markets
- The acquisition of rights to MagneGasTM Technology in Israel
- The acquisition of rights to MagneGasTM Technology in India, Pakistan and neighboring countries
- An equipment sales agreement across much of the U.S. Mid-Atlantic region
To be added to the MagneGas investor email list, please email justin.davis@cirrusfc.com with MNGA in the subject line.
[1]Source: Company estimate
About MagneGas Corporation Founded in 2007, Tampa-based MagneGas Corporation (OTC BB: MNGA) is the producer of MagneGasTM, a natural gas alternative and metal cutting fuel made from liquid waste such as sewage, sludge, manure and certain industrial and oil based liquid wastes. The Company’s patented Plasma Arc FlowTM process gasifies liquid waste, creating a clean burning fuel that is essentially interchangeable with natural gas, but with lower green house gas emissions. MagneGasTM can be used for metal cutting, cooking, heating or powering bi fuel automobiles.
CONTACT:
Cirrus Financial Communications, LLC Justin K. Davis
(866) 330-MNGA (6642)
Justin.Davis@cirrusfc.com
www.cirrusfc.com
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