MagneGas Corporation, a waste-to-energy company that coverts liquid waste in a hydrogen (H2) based fuel, has appointed a new Chief Financial Officer (CFO), declaring that the new addition brings significant merger and acquisition (M&A) experience.

Scott Mahoney, a “seasoned oil and gas executive,” has also been appointed as the US-based corporation’s Secretary of the Company, with both roles effective as of 1st December, 2016.

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Scott Mahoney

Source: MagneGas Corporation

The new employee most recently served as CFO of Phoenix Group Metals, LLC, and has a broad background in corporate finance, corporate communications and strategic planning.

MagneGas CEO Ermanno Santilli praised Mahoney’s “impressive track record in the energy and recycling industries,” claiming he will bring “vast skills to MagneGas from his experience at several growing companies where he was instrumental in providing the finance vision, strategy and leadership.”

“He has extensive experience with M&A which we believe will be instrumental to our growth strategy,” Santilli expressed.

He replaces current CFO Luisa Ingargiola, who will remain actively involved in MagneGas’s operations and capital market activities as part of its Board of Directors.