NEW YORK (TheStreet) -- MagneGas (MNGA) was gaining 6.8% to $1.57 Thursday on news that the company is expanding into Georgia with a new distributor.

The gas provider signed a new agreement with Sidney Lee Welding Supply of Hampton Georgia to distribute fuel through the state. MagneGas will ship the fuel to the state from its headquarters in Florida.

"There has been demand for MagneGas fuel from fabrication facilities to scrap yards throughout the state of Georgia," Terry Vernille, executive vice president of gas dales for Magnegas said in a press release. "We took our time to locate the perfect distributor. With four facilities geographically located to service all of the large industrial areas of Georgia, and plans to grow in the near future while maintaining customer service, we feel Sidney Lee is the right partner for us."

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