EX-99.1
3
ex99-1.htm
News
Release
Investor
Contacts:
Tirth
Patel
Edison
Advisors
T:
646-653-7035
tpatel@edisongroup.com
MagneGas
Completes Acquisition of One of the Largest Independent Distributors in East Texas
New
Acquisition Adds $3.7 Million in Annualized Sales
TAMPA,
FL - January 18, 2019 -
MagneGas Applied Technology Solutions, Inc. ("MagneGas" or the "Company")
(NASDAQ: MNGA)
, a leading clean technology company in the renewable resources and environmental solutions industries, announced
today the completion of an acquisition of one of the largest remaining independent industrial gas and welding supply distributors
in East Texas. This transaction, priced at $2.5 million, paid in cash at closing, expands the Company's geographic footprint
in the East Texas market, which is home to a large number of industrial and shipping companies, as well as strong exposure to
the oil and gas production and refining markets.
"With
this acquisition, we are reaching significant economies of scale and market dominance in East Texas", commented Scott Mahoney,
Chief Executive Officer of MagneGas. "Together with our prior four acquisitions in the region in 2018, we now operate one
of the largest independent industrial gas distributors in the region, and have access to thousands of consistent consumers of
industrial gas products".
"With
our newfound scale, we anticipate significant improvement in our operating margins in the coming quarters as we optimize our operations
in the region. This was one of our central objectives heading into 2019, and we are proud of our team's ability to close
such an impactful transaction so early in the year", concluded Mr. Mahoney.
About
MagneGas Applied Technology Solutions, Inc.
MagneGas
Applied Technology Solutions, Inc. (MNGA) owns a patented process that converts various renewables and liquid wastes into MagneGas
fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The Company's testing has shown that
its metal cutting fuel "MagneGas2®" is faster, cleaner and more productive than other alternatives on the market.
It is also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2® into the metal
working market as a replacement to acetylene.
The
Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets.
In addition, the Company is developing a variety of ancillary uses for MagneGas fuels utilizing its high flame temperature for
co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas, please visit the Company's
website at
http://www.MagneGas.com
.
The
Company distributes MagneGas2® through Independent Distributors in the U.S and through its wholly owned distributors, ESSI,
Green Arc Supply, Paris Oxygen, Latex Welding Supplies, Tyler Welders Supply, United Welding Supplies, Trico Welding Supply and
Complete Welding of San Diego. The Company operates 17 locations across California, Texas, Louisiana, and Florida.
FORWARD-LOOKING
STATEMENTS
This
press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability
to raise capital, 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.
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.

EX - 99 . 1 3 ex99 - 1 . htm News Release Investor Contacts : Tirth Patel Edison Advisors T : 646 - 653 - 7035 tpatel@edisongroup.com MagneGas Completes Acquisition of One of the Largest Independent Distributors in East Texas New Acquisition Adds $ 3.7 Million in Annualized Sales TAMPA , FL - January 18 , 2019 - MagneGas Applied Technology Solutions , Inc . ( " MagneGas " or the " Company " ) ( NASDAQ : MNGA ) , a leading clean technology company in the renewable resources and environmental solutions industries , announced today the completion of an acquisition of one of the largest remaining independent industrial gas and welding supply distributors in East Texas . This transaction , priced at $ 2.5 million , paid in cash at closing , expands the Company 's geographic footprint in the East Texas market , which is home to a large number of industrial and shipping companies , as well as strong exposure to the oil and gas production and refining markets . " With this acquisition , we are reaching significant economies of scale and market dominance in East Texas " , commented Scott Mahoney , Chief Executive Officer of MagneGas . " Together with our prior four acquisitions in the region in 2018 , we now operate one of the largest independent industrial gas distributors in the region , and have access to thousands of consistent consumers of industrial gas products " . " With our newfound scale , we anticipate significant improvement in our operating margins in the coming quarters as we optimize our operations in the region . This was one of our central objectives heading into 2019 , and we are proud of our team 's ability to close such an impactful transaction so early in the year " , concluded Mr . Mahoney . About MagneGas Applied Technology Solutions , Inc . MagneGas Applied Technology Solutions , Inc . ( MNGA ) owns a patented process that converts various renewables and liquid wastes into MagneGas fuels . These fuels can be used as an alternative to natural gas or for metal cutting . The Company 's testing has shown that its metal cutting fuel " MagneGas2 ® " is faster , cleaner and more productive than other alternatives on the market . It is also cost effective and safe to use with little changeover costs . The Company currently sells MagneGas2 ® into the metal working market as a replacement to acetylene . The Company also sells equipment for the sterilization of bio - contaminated liquid waste for various industrial and agricultural markets . In addition , the Company is developing a variety of ancillary uses for MagneGas fuels utilizing its high flame temperature for co - combustion of hydrocarbon fuels and other advanced applications . For more information on MagneGas , please visit the Company 's website at http://www.MagneGas.com . The Company distributes MagneGas2 ® through Independent Distributors in the U . S and through its wholly owned distributors , ESSI , Green Arc Supply , Paris Oxygen , Latex Welding Supplies , Tyler Welders Supply , United Welding Supplies , Trico Welding Supply and Complete Welding of San Diego . The Company operates 17 locations across California , Texas , Louisiana , and Florida . FORWARD - LOOKING STATEMENTS This press release contains forward - looking statements as defined within Section 27A of the Securities Act of 1933 , as amended , and Section 21E of the Securities Exchange Act of 1934 , as amended . These statements relate to future events , including our ability to raise capital , 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 . 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 .
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