TAMPA, Fla., Oct. 23, 2018 (GLOBE NEWSWIRE) -- MagneGas Applied Technology Solutions, Inc. ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today that it is holding its second United States Department of Agriculture (USDA)-funded sterilization demonstration day on Tuesday, October 23rd. MagneGas will conduct its second Demonstration Day of the MagneGas 50 KW sterilization unit under the USDA Conservation Innovation Grant (CIG) at the Lake Branch Dairy Farm located outside of Bowling Green, FL.
MagneGas is currently nearing completion of Phase 2 testing of the 4-phase USDA CIG project. The demonstration will include a tour of the system, a presentation on the highlights of the changes made to the system based on Phase 1 lessons learned, and present preliminary results and analysis of the Phase 2 testing.
“Our USDA grant-funded sterilization project is making excellent progress,” commented Ermanno Santilli, Chief Executive Officer of MagneGas. “We have learned a great deal from our initial phase of our project, and we leveraged our findings to refine our scope of work in Phase II.”
Santilli continued, “We are very excited to release our findings on our demonstrated impact on high levels of nitrogen (N), phosphorus (P) and potassium (K), also known as the NPK value, which is closely linked to the life threatening blue green algae blooms. We are also looking forward to releasing data on our sterilization efficacy for animal waste solids, as we see this as a potentially scalable path to selling the solids into the global fertilizer industry.”
About MagneGas Applied Technology Solutions, Inc.
MagneGas Applied Technology Solutions, Inc. (MNGA) owns a patented process that converts various renewables and liquid wastes into MagneGas® fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The Company's testing has shown that its metal cutting fuel “MagneGas2®” is faster, cleaner and more productive than other alternatives on the market. It is also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2® into the metal working market as a replacement to acetylene.
The Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas, please visit the Company's website at http://www.MagneGas.com.
The Company distributes MagneGas2® through independent distributors in the U.S. and through its wholly-owned distributors, ESSI, Green Arc Supply, Paris Oxygen, Trico Welding Supply and Complete Welding of San Diego. ESSI has 4 locations in Florida, Green Arc and Paris Oxygen have 3 locations in Texas and one location in Louisiana, Trico has two locations in northern California, and Complete Welding has one location in southern California.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
Investor Contacts:
Tirth Patel
Edison Advisors
T: 646-653-7035
tpatel@edisongroup.com