MagneGas, Green Gas Supply to expand into Louisiana, Texas markets

MagneGas Corp., Tampa, Fla., has signed a memorandum of understanding (MOU) with Green Gas Supply LLC to expand into Louisiana and Texas with a $550,000 plasma-arc gasification system sale that includes future royalty payments, profit sharing rights, and an initial 300-cylinder gas order to seed the territory.

Under the terms of the MOU, a new joint venture company will be established in Louisiana to own and operate MagneGas gasification systems to produce and sell MagneGas2® fuel, converted from liquid waste, into the metal cutting market. MagneGas will own 50 percent of the new company. The MOU calls for the sale of additional equipment to expand into Texas and other states.