MagneGas Corporation has expanded into two new markets in the US via direct sales of industrial gases, welding supplies and its MagneGas2® fuel.
The waste-to-energy innovator has announced plans to develop its business in both the Indiana and Florida regions.
The move into the Indiana market is a result of recurring sales to an anonymous automaker in the region who initially adopted the Florida-based company’s MagneGas2 fuel for one of its manufacturing facility in July, 2016, and then for a second facility in Indiana in October 2016.
Both facilities produce light trucks and automobiles, using MagneGas2 fuel for metal cutting and repairs. MagneGas2 fuel is made of renewable source and can be used as a replace for acetylene in the cutting fuels market.
As a result of this successful association in Indiana, MagneGas will expand its client base and establish a new industrial sales and welding supply footprint in the Midwest.
“We can leverage the opportunity to expand our market presence in the industrial gases and welding supply business in the Midwest.”
Ermanno Santilli, CEO
“We are pleased that this global industrial client has seen the value of MagneGas2 and sought to expand our relationship over the past six months,” expressed CEO Ermanno Santilli. “We believe we can leverage the opportunity to expand our market presence in the industrial gases and welding supply business in the Midwest.”
The second move sees MagneGas stamp its mark on its home territory in Florida, under increasing demand for its products and additional potential revenue sources in the area. Currently sourcing products from its Clearwater headquarters, the company believes that opening a Tampa location would lead to increased sales to current clients with the proximity providing an avenue for additional cross-sales opportunities.
Chief Financial Officer Scott Mahoney underlined, “Our expansion into Tampa is another step in our 2017 strategy to expand through both organic growth and acquisitions. Adding a new location in Tampa should enable us to better serve the clients we have in that market, and we will work hard to gain new clients and drive revenue growth in this key market in the coming months.”
The company sees these latest expansions as a key step in the company’s strategy to develop MagneGas Welding Supply through organic growth and acquisitions.
Since entering the industrial gas and welding supply market in Clearwater in late 2014, MagneGas had expanded into North Florida, Lakeland and most recently, Sarasota. The company aims to expand into the majority of Florida’s metropolitan markets by the end of 2018.