MagneGas Corporation has completed its first bulk gas implementation project in Florida for a customer in the high-end fabrication business serving military and government applications.
This project involves a multi-year industrial bulk gas purchase contract with one of MagneGas’ largest customers in the state of Florida.
Ermanno Santilli, CEO of MagneGas, commented, “This is a very important step in the maturation and growth of our industrial gas and welding supply business.” He continued, “This project was a major win for our Florida sales team, and it is a success story for our ability to earn a client’s trust and win business away from the largest competitors in the industry. We won this bid based on excellent customer service, competitive pricing power, and the ability to deliver MagneGas2®, the only renewable metal cutting fuel in the market today. These types of awards are also powerful validation for prospective customers going forward. We believe this latest contract further demonstrates the loyalty and confidence of our client, by implementing a multi-year buying commitment with MagneGas.”
Scott Mahoney, CFO of MagneGas, enthused, “This bulk gas project is a meaningful example of the positive direction our industrial gas and welding supply business is headed.” He added, “The financial benefit of such projects can be significant. First, the contract itself provides significant revenue visibility for multiple years with one of our largest customers in Florida. Second, given the nature of the supply agreement, it creates a protective layer of customer commitment and loyalty that ensures we are able to retain and expand one of our most important client relationships. Lastly, our goal is to replicate this kind of contract across as many customers as possible, as it provides a strong, recurring revenue base and growing profit visibility as we expand our business across Florida, California, Texas and Louisiana.”
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