MagneGas Teams With Fellow Green Technology to Push Limits of Environmental Recovery Possibilities
MagneGas Corporation, a producer of a metal working fuel and natural gas alternative made from liquid waste, announced today that it has entered into a Strategic Alliance Agreement ("SAA") with Atlanta, GA-based Eprida Power and Life Sciences Company ("EPRIDA") (www.eprida.com). The parties entered into the SAA in order to collaborate for the combined use of a MagneGas/EPRIDA system to potentially produce carbon-negative, oxygen-positive fuel*, and by leveraging the two systems produce a top soil supporting amendment and other environmentally friendly byproducts.
EPRIDA's technology offers a unique bio-energy platform to transform biomass into a combination of sustainable products, most notably a charcoal-based fertilizer that removes carbon from the air and reintroduces it to depleted topsoil. In combination with MagneGas' Plasma Arc Flow(TM) technology, the integrated platform could
1. A clean fuel whose production removes harmful carbon from the air, producing more oxygen than it consumes when burned.
2. An environmentally friendly additive that regenerates exhausted topsoil and increases crop yield.
EPRIDA intends to present this combined platform to its customers around the world for purchase and to governmental agencies (i.e. U.S. Departments of Energy, Agriculture, EPA, Interior) to obtain grant demonstration funding. With these EPRIDA will buy Plasma Arc Flow(TM) systems from MagneGas.
"We are excited about the potential for this partnership with EPRIDA," stated MagneGas President Richard Connelly. "We believe that the combination of our two technologies could reshape what is possible in the field of environmental recovery, creating applications that have an immediate and profound effect. The principal of a carbon-negative, oxygen-positive system has never yet been successfully created; our respective teams of scientists believe that uniting our two technologies could create the world's first such system.
"Moreover, this partnership represents another important step in the national sales rollout of MagneGas(TM) fuel -- EPRIDA will also market our fuel to the metal cutting market and for various industrial applications."
"I am thrilled to be a part of potentially producing the first carbon-negative, oxygen-positive community-based fuel systems in the world," stated EPRIDA President Danny Day. "There are many synergies between the two technologies that could increase the potential economic return for our customers, thereby creating potential revenue opportunities for both companies. Our customers will benefit from having a system that will process their organic waste, while producing fuel and other byproducts in a closed loop system that potentially produces no waste."
Founded in 2007, Tampa-based MagneGas Corporation (OTCBB: MNGA) is the producer of MagneGas(TM), a natural gas alternative and metal working 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.
[*Definitions: carbon-negative - production process consumes more carbon than it emits; oxygen-positive - production process emits more oxygen than it consumes.]