MagneGas Launches United Kingdom Operations, Provides Update on $7.2 Million LIFE Grant in Germany
MAGNEGAS (MNGA)
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Source: GlobeNewswire
Newly-Formed MagneGas Limited Enables Additional European Grants and Direct Revenue Generation in Europe TAMPA, Fla., July 03, 2018 (GLOBE NEWSWIRE) -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ:MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today that it has formed MagneGas Limited, based in London, England. The purpose of this new wholly-owned subsidiary will be to directly apply for grants and government-backed financing as a European entity. In addition, MagneGas Limited also enables the Company to begin directly marketing, producing, and selling MagneGas2® in the United Kingdom and European Union. Lastly, the formation of MagneGas Limited permits the Company to begin hiring direct employees that will be responsible for managing grant-funded projects and commercial operations for the Company within the European Union. In February 2018, MagneGas announced the formation of a joint ventu
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