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Stock Market & Financial Investment News

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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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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