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December 19, 2012
09:42 EDTMNGAMagnegas signs $1M fuel pre-purchase agreement
MagneGas announced that Sustainable Green, a Seattle-based distributor of industrial gas, has agreed to pre-purchase $1M worth of MagneGas fuel over a two year period. MagneGas Corporation will install and operate a gasification unit in Seattle and Sustainable Green will become the exclusive distributor of MagneGas fuel in Washington and Oregon for two years and beyond, subject to continued forward purchases. In addition, Sustainable Green will be permitted to sell the MagneGas fuel in any other territories where there is no exclusive distributor.
News For MNGA From The Last 14 Days
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March 26, 2015
13:00 EDTMNGAMagneGas reports joint venture to pursue co-combustion technology
In a regulatory filing, MagneGas reports that on March 20, it finalized a term sheet with two confidential parties for a tri-party joint venture implemented through a limited liability company. MagneGas and the two confidential parties will each own one-third of a new Delaware limited liability company that will engage in the worldwide testing, development, and pursuit of the co-combustion of MagneGas with coal and coal by-products in the electric power plant industry. The term sheet supersedes the USA MOU dated October 8, 2013 and the supplement to the USA MOU dated June 16, 2014 discussed in the company’s recent annual report on Form 10-K.

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