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MagneGas receives first gasification equipment order from U.S., signs MOU

MagneGas Corp., Tarpon Springs, Fla., a technology company that counts among its inventions a patented process that converts liquid waste into MagneGas® fuel, has announced that it 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, NewCo, will be established in Louisiana to own and operate MagneGas gasification systems to produce and sell MagneGas2® to the metal cutting market.