MagneGas Corp., based out of Tarpon Springs, Florida, recently signed a Memorandum of Understanding (MOU) with Sierra Leone’s Masada Waste Management Co. to import products and equipment as a sustainable alternative to traditional fuels.
With an initial capital investment of over a half-million dollars and an agreement for 5 percent gross royalties, the plan followed a series of consultations between MagneGas and Masada. MagneGas, which uses a patented procedure that converts liquid waste into its branded fuel, has made efforts to bring more sustainability to communities in West Africa to alleviate challenges in sanitation, waste management, health and safety, particularly in the wake of EBOLA outbreaks.
The arrangement assigns Masada exclusive distribution rights for MagneGas in the nation. Masada was granted a 20-year waste management contract by Sierra Leone’s government to collect, manage and convert waste generated in Freetown.
Masada was founded by CEO Gibril Wilson, a Freetown native who lived in the U.S., pursued a career with the National Football League (NFL), and ultimately played with the New York Giants in Super Bowl XLII. Having returned to Sierra Leone, he now focuses his business ventures on his native country’s recovery.
Known for inventions including its patented process to convert liquid waste into hydrogen-based fuels, MagneGas provides MagneGas as an acetylene replacement. It also sells equipment for sterilizating bio-contaminated liquid waste for various industrial and agricultural markets.
150 Rainville Rd
Tarpon Springs, FL - 34689