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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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October 1, 2014
11:01 EDTMNGAMagneGas acquires new headquarters, will move within 90 days
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September 30, 2014
10:18 EDTMNGAMagneGas signs letter of intent with an urban fish farm in Florida
MagneGas announced the signature of a Letter of Intent for the placement of a 50kW Unit with an innovative fish farm company located in Fort Myers, Florida. The Company believes that the value of using a MagneGas unit is that it both sterilizes and breaks down nutrients microscopically, thus increasing the surface area to volume ratio of remaining nutrients. This is expected to result in increased efficiency when adding microbiology and thus reducing overall costs and improving throughput rates. The executed Letter of Intent stipulates that upon successful trial runs and test results, the Companies will work together to pursue aquaponic farms and certain other agricultural applications. The Company estimates there are up to 200 aquaponic farms in the US and plans to jointly incorporate respective patented process technologies to pursue the market. Following successful testing, the initial 50kW unit will be placed at the farm in Fort Myers to demonstrate the technology and business model to visitors.
September 23, 2014
09:03 EDTMNGAFDNY commences final testing of MagneGas to replace acetylene
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