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News Breaks
August 19, 2014
08:26 EDTMNGAMagneGas to purchase gas distribution company
MagneGas announced that it has signed a Letter of Intent to purchase an established industrial gas distribution company with estimated 2014 gross revenues of approximately $2M. It also separately signed an agreement to purchase an industrial building nearby for expansion and relocation of its headquarters. MagneGas has signed a non-binding Letter of Intent to purchase a well-established local industrial gas distributor in Florida providing a platform to grow sales of MagneGas while offering a wider range of services to industrial gas customers.
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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