TAMPA, Fla., April 2, 2013 /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 it has signed definitive agreements with Clear Sky Energy S.A. de C.V. ("CSE") in which CSE will purchase a Plasma Arc Flow™ gasification system from the Company for an aggregate purchase price of $2.7 million plus 5% royalties. In addition, CSE will be an exclusive distributor for MagneGas products and services in Mexico.
"CSE is very pleased to represent the MagneGas technology in Mexico. The opportunities in front of us are numerous and broad in scope. We feel the MagneGas technology will have a significant impact in the industrial gas, sewage treatment and hazardous waste treatment markets. We are confident that the combination of CSE's access to markets coupled with the MagneGas technology will result in several significant opportunities to satisfy the growing demand for Liquid Waste to Energy solutions in Mexico," said Manuel Juan Marcos, CEO of CSE.
"We were amazed by the access to markets CSE has in Mexico. The recent demonstration to potential CSE customers was well managed and tremendously convincing," stated MagneGas CEO Ermanno Santilli. "MagneGas provided a mobile unit for testing in Mexico and the CSE team brought oil wastes from around the country. Together we performed a live demonstration of oil wastes being gasified by our recycler, MagneGas feeding a generator and electricity being produced on demand. The customer feedback was very positive."
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