Northern, WI 4/26/12 (StreetBeat) -- MagneGas Corporation (OTCBB: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced today that it has reached an agreement with Suncoast Metals LLC (Suncoast) to provide MagneGas™ fuel for metal working. Suncoast, a full service metal recycling company with over $32 million in annual revenue, has agreed to use MagneGas™exclusively for their scrap operations and has accepted its first order of MagneGas™ fuel."By working with MagneGas, we are demonstrating our level of commitment towards improving the environment," stated Mike Allen, Vice President of Suncoast Metals, LLC. "We found MagneGas™ performance superior to other metal working fuels and this was a major factor in our decision. We are confident that using MagneGas™ will allow us to improve our productivity and reduce costs while continuing to provide our customers with exceptional service."
"Our continued growth is a testament to the fact that we are able to provide our customers with the performance and savings they expect when using MagneGas™ as the primary fuel option for their metal cutting needs," commented Scott Wainwright, President of MagneGas. "We look forward to furthering our relationship with Suncoast by providing the company with MagneGas™ as they continue to expand their metal cutting operations."
About MagneGas Corporation
Founded in 2007, Tampa-based MagneGas Corporation is the producer of MagneGas™, a natural gas alternative and metal working fuel that can be made from certain industrial, municipal, agricultural and military liquid wastes following the receipt of appropriate governmental permits.
The Company's patented Plasma Arc Flow™ process gasifies liquid waste, creating a clean burning hydrogen based fuel that is essentially interchangeable with natural gas. MagneGas™ can be used for metal working, cooking, heating, powering bi fuel automobiles and more.
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