Boston, MA 05/30/2014 (wallstreetpr) – MagneGas Corporation (NASDAQ:MNGA), a frontrunner technology and energy company that works on fructifying righteous conversion of liquid waste materials into hydrogen based fuel reserve, announced recently that it had filed a regulatory provisional patent to exquisitely blend myriad existing cutting fuels with MNGA to benefit the Metal Works Industry.
MNGA Files A Patent For A Blended Gas
The company seeks to better its efforts to broaden and strengthen its intellectual property, and hence filed for a provisional patent. This blend is deemed to improve cutting speed, regulate flame temperatures of propane, natural gas and other cutting fuels properly, by blending them with MagneGas Corporation (NASDAQ:MNGA). The company strongly feels that this blended gas mix shall feature well across the metal cutting markets and soon be used widespread.
The VP’s Voice
Executive VP of MNGA, Terry Vernile reverted that Magnegas shall blend with other legacy cutting fuels and evolve as a mixture with high octane boost characteristic prominent at lower temperatures. MNGA demonstrated this tech-savvy blended measure in the AWISCO Annual Trade-Show on May 21, 2014.
A Strong Q1 – Highlights
MagneGas Corporation (NASDAQ:MNGA) reported that its revenues have propped up in Q1-2014 by a significant margin! Revenues have escalated from $130,840 in Q1-2013 to $191,601 in Q1-2014 – increasing by a whopping 46%, year-over-year! The company has also witnessed a voluminous drop in its operating expenses in the first quarter. Operating expenses dropped from $1,631,050 in Q1-2013 to $1,482,931 in Q1-2014. Further, MNGA’s in-hand cash reserves have increased several folds; cash balance at the end of Q1 was $7,117,314, in comparison to a meek $216,523 in Q4-2013, depicting a significant range of growth and development took place throughout the first quarter in 2014.
New Business Endeavors During Q1
MNGA’s business has witnessed a watershed in the last quarter as the company maneuvered a series of pacts with myriad firms! MNGA formed a subsidiary in the name of Joint Venture Company to pursue a co-combustion of MNGA’s MagneGas with coal in the US and Canada belt, to garner better efficiency! On the same line, MNGA signed a pact with an Australian firm, FutureEnergy Pty Ltd.
Capital Gains
MagneGas Corporation (NASDAQ:MNGA) also unveiled its innovative liquid waste processing measure during a biomass conference held in March, 2014. Meanwhile, the company also completed its construction of the mobile gasification system in Kazakhstan. Moreover, MNGA raised $9,000,000 as capital from two offerings through an institutional investor.
