European Commission Awards MagneGas European Joint Venture a $7.2 Million Grant for Eco-Innovation
MAGNEGAS (MNGA)
Last magnegas earnings: 11/14 08:00 am
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Source: Marketwire
TAMPA, FL -- (Marketwired) -- 03/01/18 -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today that its European joint venture with Infinite Fuels, GmbH has been awarded a EUR6.0 million ($7.2 million USD) grant from the Executive Agency for Small and Medium-sized Enterprises (EASME), a department within the European Commission. The grant application was made by Infinite Fuels through an Eco-Innovation funding initiative within the Energy, Environment, and Resources Department of EASME. The grant approval process is expected to be finalized and funds made available in mid-2018. "This grant is a major opportunity for MagneGas, together with our joint venture partners, to take a leading role in providing clean technology solutions within the European Union at scale," commented Ermanno Santilli, CEO of MagneGas. "We have spent almost tw
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