MagneGas Corporation has entered into its largest equipment sale to date with a Letter of Intent (LOI) to manufacture and deliver equipment and supplies to an as-yet-unnamed company based in Germany.
MagneGas is a leading technology company that counts among its inventions a patented process that converts renewable and waste liquids into the innovative MagneGas2® fuel, a replacement for acetylene.
The company has now entered into its largest order to date, a $2.65m sale for its proprietary Gasification and Sterilisation systems and MagneGas2® fuel and cylinders. MagneGas has agreed to keep the name of the German company and the exact details of the LOI confidential until the parties enter into the definitive agreements.
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