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Major Government Contractor and Minister of Energy in Haiti Considering MagneGas Fuel and Equipment ImportTAMPA, Fla., July 16, 2015 /PRNewswire/ -- MagneGas Corporation, ("MagneGas" or the "Company") (NASDAQ: MNGA), a technology company that counts among its inventions a patented process that converts liquid waste into MagneGas® fuel, joined Panexus Haiti S.A. (Panexus), a major general contracting firm specializing in design, build and civil engineering projects, in Port-au-Prince Haiti this week to give a presentation and demonstration of MagneGas 2® to government officials including Minister of Energy Rene Jean Jumeau and Minister of National Education and Professional Training Nesmy Manigat. MagneGas has been focusing on expansion in the Caribbean to better assist in the overall development and sustainability of communities in the area. The company is currently making strides to assess and implement MagneGas® in the industrial sector as a clean alternative to current fuels, as well as a sustainable natural gas alternative for cooking stoves in Haiti. Currently, almost all Haitians rely on inefficient char-burning, or expensive propane fuel to prepare food. Haiti is at a disadvantage developmentally due to the country having no natural source of oil derived fuels, making them 100% reliant on imports and unable to influence the market volatility. High fuel costs, low wages, and lack of jobs has created an inability to afford imported energy sources, which has led to deforestation, since wood is the cheapest fuel at the moment. As the second largest country in the Caribbean with 10.4 million citizens, the opportunity to create jobs and turn waste into a Haitian controlled fuel source has the potential to have a significant impact on the area, both environmentally as well as economically. "Haiti is in need of an industry that can create local jobs and improve access to energy. The added benefit of this system is that it enables Haiti to develop in a more sustainable manner, ensuring the ability to thrive for future generations," says Panexus CEO Gilbert Hippolyte. "We are excited to work with MagneGas on many different initiatives." With fuel already being a significant expenditure for households, it is important that more affordable solutions be created. Every 1% improvement in efficiency or cost will save the 10.4 million Haitians millions of dollars each year; money that can be reinvested back into the community. Mr. Hippolyte believes MagneGas to be a progressive step towards breaking free from the current limitations gas importation causes. On Tuesday, July 14th, The MagneGas demonstration commenced with a digital presentation of their product lineup given by Ermanno Santilli, CEO of MagneGas Corporation. Following the presentation, the group gathred in Panexus headquarters to witness the product in action as experts cut steel using the seamless effectiveness and efficiency of MagneGas 2. The afternoon ended with a final presentation by Spyro Vassiliou, MagneGas Assistant Vice President of Sales, and an assessment of the efficiency of MagneGas for use in stoves. The MagneGas IR App is now available for free in Apple's App Store for the iPhone or iPad http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk for Android mobile devices. To be added to the MagneGas investor email list, please email [email protected] with MNGA in the subject line. About Panexus Haiti S.A. About MagneGas Corporation FORWARD-LOOKING STATEMENTS For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/major-government-contractor-and-minister-of-energy-in-haiti-considering-magnegas-fuel-and-equipment-import-300114075.html SOURCE MagneGas Corporation |