Green Investor News: Natural Gas Alternative Company Magnegas Corporation (OTCBB: MNGA) Secures Asset Purchase and Distribution Agreements for Previously Announced $1.2 million Equipment Purchase Order
POINT ROBERTS, WA and DELTA, BC –July 7, 2009 – Investorideas.com and www.RenewableEnergyStocks.com, a leading global investor and industry portal for the renewable energy sector within Investorideas.com, feature news h- lites from Magnegas Corporation (OTCBB:MNGA) and GWS Technologies, Inc. (OTCBB: GWSC).
Green Investor News Hi- Lites
MagneGas Cements Previously Announced $1.2 Million Purchase Order with Definitive Agreements
Signed Asset Purchase and Distribution Agreements Lock in Business
MagneGas Corporation (www.magnegas.com) ("MagneGas" or the "Company") (OTCBB: MNGA), a producer of a metal cutting fuel and natural gas alternative made from liquid waste, announced today that it has secured signed Asset Purchase and Distribution Agreements (the "Agreements") for the previously announced $1.2 million equipment purchase order and subsequent launch of the Philippines and Vietnam markets. MagneGas previously entered into a Memorandum of Understanding on May 18, 2009 and these Agreements now solidify that business and the remaining payments timeline. MagneGas has already received a $100,000 deposit from purchaser American Investment Co. ("American") which will pay MagneGas the remaining $1.1 million according to the following schedule:
$390,000 to commence construction, payable on or before December 1, 2009; and
Balance of $710,000 due prior to delivery of the refinery (refineries typically take 3 - 6 months to complete)
"We strongly believe that this demonstrated ability to convert stated interest to financial commitment is a significant leap forward for MagneGas," stated Company President Richard Connelly. "With the signing of these Agreements we have moved definitively from potential to progress."
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Contact:
Cirrus Financial Communications, LLC
Justin K. Davis
(866) 330-MNGA (6642) Email Contact
justin.davis@cirrusfc.com
http://www.cirrusfc.com
Source: MagneGas Corp.
GWS Technologies Inc. Retains DME Capital LLC to Implement Global Investor Relations Program
SCOTTSDALE, Ariz. -- GWS Technologies Inc. (OTCBB: GWSC) announced that it has retained DME Capital LLC, a New York based Investor Relations firm to expand the Company’s strategic investor relations program.
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GWS Technologies, Inc. (OTCBB: GWSC), GWS stands for GreenWindSolar. We are a renewable energy technology company developing and marketing solar and wind-powered renewable energy products and solutions. Our products and solutions are part of the new microgeneration movement that is transforming the way businesses and consumers provide for their energy needs. The company was founded in 2005 and is headquartered in Scottsdale, Arizona. Website: www.greenwindsolar.com
Magnegas Corporation (OTCBB:MNGA) is the producer of MagneGas(TM), a natural gas alternative and metal cutting fuel made from liquid waste such as sewage, sludge, manure and certain industrial and oil based liquid wastes. The Company's patented Plasma Arc Flow(TM) process gasifies liquid waste, creating a clean burning fuel that is essentially interchangeable with natural gas, but with lower green house gas emissions. MagneGas(TM) can be used for metal cutting, cooking, heating or powering bi fuel automobiles.
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