MagneGas Corporation has successfully installed a plasma-arc gasification system at a Louisiana-based Industrial gas company to supply the Gulf States.
The new operating system, previously announced as contracted in an arrangement called the ‘Gasifier Agreement’, was sold to Green Arc Supply, LLC of Louisiana.
Green Arc purchased a gasifier to manufacture and distribute MagneGas2® exclusively in certain regions of Louisiana and Texas.
Pursuant to the terms of the Gasifier Purchase Agreement, the company received a total of $775,000 for the purchase of the system. The agreement also calls for royalty payments which amount to $0.02 per cubic foot produced by Green Arc.
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