Baku, Azerbaijan, Nov. 22
By Elena Kosolapova - Trend: MagneGas Corporation, the developer of a technology that converts liquid waste into a hydrogen-based fuel has received $276,000 towards the aggregate purchase price of $499,000 for a gasification equipment sale to Kazakh Astana TechCom, Inc, the company reported on November 21.
Astana has purchased a small Plasma Arc Flow gasification system on wheels, custom built to facilitate demonstrations of the MagneGas Technology to local energy industries, medical facilities and universities.
Final payment and delivery is expected in February 2014.
"I am very pleased that this acquisition allows Astana TechCom the opportunity to have a significant impact on the industrial gas market and in liquid waste treatment for all of Central Asia, starting with the state of Kazakhstan which, since 1991, has strong diplomatic and economic ties with the USA," said Dr. Ascar Aringazin Director of Astana TechCom.
"Since transportation of certain liquid wastes is expensive and problematic, providing customers and distributors the ability to verify liquid sterilization or gasification on-site is an invaluable tool which we have found accelerates market penetration tremendously," MagneGas CEO Ermanno Santilli said.
Founded in 2007, Tampa-based MagneGas Corporation is the producer of MagneGas, a natural gas alternative and metal working fuel that can be made from certain industrial, municipal, agricultural and military liquid wastes following the receipt of appropriate governmental permits.
The Company's patented Plasma Arc Flow process gasifies liquid waste, creating a clean burning hydrogen based fuel that is essentially interchangeable with natural gas. MagneGas can be used for metal working, cooking, heating, powering bi fuel automobiles and more.
