TAMPA, Fla., Dec. 2, 2013 /PRNewswire/ -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based fuel, announced today that Scrappy Thomas Inc. of Mulberry Florida has concluded their analysis using MagneGas for metal cutting as compared to propane. Scrappy Thomas has been a customer since March of 2012 and has confirmed an increase in productivity and reduction in cost using the MagneGas product. This analysis is an important validation for MagneGas of the real value proposition of the product as it was conducted by an independent customer using a true industrial application over an extended period of time.
"MagneGas has been marketing the value proposition of the product based on its own internal analysis for months," stated Ermanno Santilli, CEO of MagneGas. "We are excited about the results coming from an actual customer in the field who wanted to see if what we preach is in fact real. Having a product champion in an independent customer speaks volumes regarding the true value of our fuel."
"Anybody can make a new product sound great but until you use it for yourself it is not proven," stated Debbie Bruce, Account Manager for Scrappy Thomas Inc. "Switching to MagneGas has saved Scrappy Thomas 25-30% overall in cost reductions with increased production. Our liquid Oxygen usage decreased 55% and our propane usage has decreased approximately 80% since using MagneGas. These figures would be higher if all my cutters used MagneGas solely."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV