MagneGas and European Partners Jointly Closes $7.0 Million Grant
MAGNEGAS (MNGA)
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Source: GlobeNewswire
Project Will Begin Immediate Payment on $1.0 Million Consulting Agreement Due to MagneGas TAMPA, Fla., Oct. 09, 2018 (GLOBE NEWSWIRE) -- 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 successful closing of a €6.0 million ($7.0 million USD) European Commission grant together with its partner Infinite Fuels, GmbH, an emerging biofuels company based in northern Germany. The grant was awarded by the European Commission’s Executive Agency for Small and Medium-sized Enterprises (EASME), as part of their LIFE programme, a funding instrument that recognizes and supports environmental and climate preservation. The grant application was initially made by Infinite Fuels through an Eco-Innovation funding initiative within the Energy, Environment, and Resources Department of EASME as part of the LIFE Programme. MagneGas first ann
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