MagneGas strikes fuel distribution deal with Lake Welding Supplies
Sep 26, 2013 - US waste-to-fuel specialist MagneGas Corp (OTC:MNGA) said yesterday it had struck a contract with Lake Welding Supplies Inc to sell MagneGas’ fuel in southern Florida.
Florida-based Lake Welding will receive the fuel from MagneGas’s base in Florida.
With the agreement MagneGas expects to significantly boost its customer base in the region, said Bryan George, the firm’s senior vice president of sales and distributor relations.
Last month MagneGas reported a second-quarter net loss of USD 1.45 million (EUR 1.1m), narrowing from USD 2.2 million a year earlier. The company saw its revenues decline to USD 133,500 from USD 189,000, with USD 110,100 coming from the metal cutting division.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.