TAMPA, Fla., June 26, 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 its 300 kW Recycler at the Cocoa Beach, Florida headquarters of Cut It Up Gas & Supplies, Inc. ("Cut It Up") has gone online. Production and sale of MagneGas™ fuel has begun and will be sold throughout the east coast of Florida.
Cut It Up is a new and dedicated distributor of metal cutting gases servicing the central and eastern parts of Florida from its Cocoa facility. Cut It Up's strategic location allows it to quickly and efficiently distribute MagneGas™ fuel not only locally by truck but also by rail and sea shipments.
"We are thrilled to have this Recycler up and running and believe it will greatly improve Cut It Up's distribution capabilities of MagneGas™ fuel in central
Florida and elsewhere," said
Ian Meldeau, Managing Partner of Cut It Up Gas & Supplies, Inc. "Based on our own internal testing and our conversations with customers, we believe there is a strong demand for the fuel because of its superior metal cutting capabilities. This Recycler will be crucial to helping us meet that demand."
"We look forward to continuing to strengthen our relationship with Cut It Up and working with the company to help it meet its customers' metal cutting needs," said Ermanno Santilli, CEO of MagneGas. "We believe that building partnerships with distributors is crucial to our Company's growth strategy. By installing recyclers on site, it makes it easier for distributors to better service their customers, which will drive revenue growth for MagneGas."
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