Clearwater-based MagneGas Corp. has received recognition by a trade publication for its green gases and advances in technology as the company reports 50 percent growth over the past year and record sales, according to a press release.
MagneGas, a clean-technology company that specializes in renewable resources and environmental solutions, was recently featured in Gasworld, a publication that focuses on the global industrial gas and welding technology industry.
“To be selected to play a leading role for our recent success in the industry is an exciting honor and a great platform for our industry-changing technology,” MagneGas CEO Ermanno Santilli said in a statement. “The article highlighted key aspects of the technology including the complete elimination of polluting slurry pits, the complete elimination of dangerous calcium carbide, and the complete elimination of water consumption, all within a 70% smaller footprint.”
The article also comes as MagneGas Chief Financial Officer Scott Mahoney said the company is gaining traction in the current market.
"We recently reported 50% year-over-year growth in the second quarter of 2017,” Mahoney said in the statement. “We then reported record sales results for August 2017 with more than 57% year-over-year growth. Compared to an industry growth rate of 2-3%, we believe these results clearly illustrate our success, and we are pleased that Gasworld recognizes this and chose to feature our company."
MagneGas also sells sterilization equipment for bio-contaminated liquid waste for industrial and agricultural markets.
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