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News Breaks
January 20, 2014
14:39 EDTMNGAMagneGas forms 50-50 joint venture with confidential partner
MagneGas said it formed a subsidiary joint venture with a confidential party. Supplemental Energy Solutions, a 50-50 joint venture, was formed between MagneGas and a confidential partner from the United States on January 16, to pursue coal co-combustion solutions in electric power utility companies. Preliminary internal testing being performed on a larger combustion unit is being observed by the major utility research center and is progressing positively. The 20% Carbon Dioxide reduction and other emission improvements seen in Sydney, Australia and at the MagneGas headquarters in Florida are being replicated consistently. The company believes these results may offer power companies and other industries a significant value.
News For MNGA From The Last 14 Days
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November 27, 2015
08:56 EDTMNGAMagneGas mentioned positively by Money Map Press
Money Map Press, a subscription investing idea service, issued a new report on MagneGas, which closed Wednesday at $1.32, with a $1,700 price target, according to contacts.
November 13, 2015
09:01 EDTMNGAMagneGas signs agreements for expansion into Gulf Coast
MagneGas announced that the company has signed a "Gasifier Purchase Agreement" and "Distribution and License Agreement" with Green Arc Supply to manufacture and sell a $775,000 100kw Plasma-Arc Gasification system. This agreement represents the first time in the history of the company that an equipment sale has been made inside the United States and signifies a new era in the company's expansion strategy. The company believes this is the most significant event this year as the agreements call for extensive expansion with the potential for substantial capital infusion through additional equipment sales in the coming months. Under the terms of the Gasifier Agreement, the company will manufacture and sell to Green Arc a 100kw Plasma-Arc Gasification System to distribute MagneGas2 fuel for the metal cutting market as a replacement to acetylene. Under the terms of the Gasifier Agreement, $10,000 was paid at the signature of the original Memorandum of Understanding on July 24, 2015, $382,500 was paid at the time of the execution of the Gasifier Agreement, with $191,500 due and payable upon 75% construction completion of the System, and the balance due and payable upon completion of construction of the System. Under the terms of the Distribution Agreement, MagneGas will receive royalty payments that equate to approximately 6% of gross sales. Green Arc will have exclusive distribution rights for certain regions of Louisiana and Texas with non-exclusive distribution rights in remaining regions of Louisiana and Texas and all of Arkansas, Mississippi and Oklahoma. Green Arc has the right to expand their exclusivity in those states with the purchase of additional systems. Green Arc has notified the Company that they plan to expand aggressively with the purchase of several additional systems in the coming months and in response, the Company has begun expanding its manufacturing capability at its headquarters.

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