MagneGas, the clean technology company, has sold an additional gasification unit for $1.58m.
The gasification unit will be placed in either the Nordics region for retail gas distribution or in a large steel mill in continental Europe to produce MagneGas 2® for exclusive use on-site. This order is an acceleration of the previously announced European consulting agreement.
As a result of the newly formed consulting agreement with MagneGas, the European marketing partner has been able to accelerate certain business development opportunities in Europe beyond the immediate German market.
Ermanno Santilli, CEO of MagneGas, stated, “This is an encouraging development for the company and is part of the pipeline of unit placements we expect to deploy in the coming months and years in Europe.” He continued, “Both opportunities are excellent and play into the strength of our propriety technology. Our partners and their blue-chip consultant’s due diligence demonstrated a strong demand for MagneGas2 to replace acetylene due to its safer overall characteristics, its renewability and its improved performance.”
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