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Sept. 5, 2012 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced today that the United States Patent and Trademark Office has issued the Company patent No. 8,236,150, entitled, "Plasma-Arc-Through Apparatus and Process for Submerged Electric Arcs."
"This is the latest in our ongoing series of patents providing protection of the main process underlying the MagneGas technology. A major advantage of our fuel is that it can be manufactured locally from liquid waste and we are thrilled that the USPTO has recognized just how unique that process is," said Chairman of the Board and Chief Scientist Dr.
Ruggero Maria Santilli. "Intellectual property forms the backbone of our Company. We will continue to build our IP portfolio while also taking steps to monetize our existing patents."
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About MagneGas Corporation
Founded in 2007,
Tampa-based MagneGas Corporation (NASDAQ: MNGA) 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. For more information on MagneGas, please visit the Company's website at
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. The Company is currently using new antifreeze, vegetable oil and ethylene glycol to produce fuel until proper permits to process used liquid waste have been obtained.