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TheStreet Open House

MagneGas Fuels Growth By Initiating Operations In Michigan And Adding Ajax Paving Industries To Customer List

Stocks in this article: MNGA

TAMPA, Fla., April 10, 2012 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (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 initiated formal operations in Michigan and it has added new customer Ajax Paving Industries, Inc.  The Company has completed the installation of its 300kw refinery in Michigan and it has obtained the necessary permits to begin operations.  In addition, the Company announced today that Ajax Paving Industries began its initial rotation of MagneGas fuel as it switches from acetylene to MagneGas throughout its manufacturing plants in Michigan.  

Based in Michigan, with operations that extend to the west coast of Florida, Ajax Paving Industries has become an industry leader in concrete and asphalt manufacturing. Metal cutting is an important segment of its overall business, and as a cost reducing and performance enhancing measure, Ajax has agreed to begin rotations of MagneGas cylinders for metal working in one of its Michigan locations with plans to expand across all locations.

"As we began testing MagneGas , we were amazed by its absolute precision and performance in metal cutting," stated Rick Sparkman, Equipment Operations Manager for Ajax Paving Industries.  "We are very excited to begin using MagneGas as it not only presents a viable 'green' option for our company, but it will also help us reduce costs and improve overall efficiency in our metal cutting operations."

"Adding Ajax Paving Industries to our growing list of customers is another significant win for MagneGas," commented Scott Wainwright, President of MagneGas. "As we continue to successfully execute on our growth strategy, we will further expand upon the strong foundation we have already built in the metal cutting market."

To be added to the MagneGas investor email list, please email pcarlson@kcsa.com with MNGA in the subject line.

Become a MagneGas fan and follow the Company on Facebook -- visit www.facebook.com/MagneGas.

The MagneGas iPhone App is now available for free at the Apple App store on the iPhone or at http://bit.ly/AfLYww.



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