Tampa, Florida-based pioneering technology firm MagneGas Corporation recently signed its first domestic equipment agreement with the newly formed Louisiana-based Green Arc Supply to build and market a $775,000 100kw Plasma-Arc Gasification system within the United States.
“We are excited to be joining forces with Green Arc Supply to expand MagneGas availability into the South,” MagneGas CEO Ermanno Santilli said. “We are executing on our plan to expand fuel sales nationally with the first equipment sale in company history in the United States. We believe this agreement serves as a turning point for the company strategy as we increase our fuel sales across the United States."
Santilli thanked Spyro Vasilliou, vice president of Gas Sales, and Jim Cohen, vice president of Equipment Sales, for their roles in the transaction.
Known for inventions including its patented process to convert liquid waste into hydrogen-based fuels, MagneGas Corporation, founded in 2007, provides MagneGas as an acetylene replacement. It also sells equipment for sterilizing bio-contaminated liquid waste for various industrial and agricultural markets, and is working to develop additional uses for its fuels.
The company regards the transaction as highly significant in its imminent growth plans.
"Louisiana and Texas are some of the greatest users of acetylene for metal cutting in the country with the multiple oil and gas companies in the area,” Rafe Dean, vice president of Operations for Green Arc Supply, said. “We at Green Arc Supply have studied and tested MagneGas2, and feel that there is no better fuel to expand rapidly into this market. Multiple tests have shown that MagneGas cuts cleaner, faster and is more economical than acetylene. We look forward to expanding into multiple regions of the South."
Green Arc Supply, founded specifically to work with MagneGas systems by experienced venture capitalists, is currently located in Texas and Louisiana, employing an active strategy for rapid expansion into multiple Southern states.