TAMPA, Florida, November 28, 2017 /PRNewswire/ —
MagneGas Corporation (“MagneGas” or the “Company”) (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced that it has formally launched a USDA sterilization pilot program at a leading dairy farm based in Bowling Green, FL. The primary purpose of the pilot is to evaluate the efficacy of the MagneGas patented plasma arc sterilization process for cow manure. The pilot is jointly funded by the USDA through a $432,000 USDA grant and provides MagneGas Corporation a unique opportunity to further validate the sterilization process.
MagneGas previously conducted similar pilot programs for the hog industry in Indiana in 2016. The data gathered from that program was submitted to the EPA and USDA for review. The current grant was a direct result of the prior pilot study. The Company believes that with the additional data gathered as a result of the current pilot in Florida, it will be in a position to move ahead with the broader commercialization of its sterilization process within the agricultural industry.
“Our USDA pilot program is a major milestone in the progression of our sterilization business and the culmination of many years of hard work and engineering,” commented Ermanno Santilli, CEO of MagneGas Corporation. “Sterilization has been a core focus for the MagneGas technology since our formation. The USDA pilot further validates the progress we are making, and we believe it will serve as a key catalyst for market acceptance in the agricultural industry and a major financial opportunity for MagneGas. We are working diligently towards completing the setup of this USDA pilot for the dairy industry and, at the same time, are working towards establishing a commercialized pilot in North Carolina to service the hog industry. We also remain on track to launch our commercial program for the sterilization of leachates in landfills with our Italian partners in early 2018.”
“We are very pleased to take these next steps with the USDA and our sterilization business,” commented Scott Mahoney, CFO of MagneGas. “As we head into 2018, we are focused on accelerating the launch of our sterilization technology as well as other emerging applications we are developing. The key financial metric we have imposed in the commercialization process has been to proactively seek out non-dilutive capital solutions that enable these programs to move forward efficiently. The USDA pilot