MagneGas Applied Technology Solutions, Inc., a leading clean technology company in the renewable resources and environmental solutions industries, has released financial results and provided a business update for the third quarter ended 30th September, 2018.
Scott Mahoney, CEO of MagneGas, stated, “2018 has been transformative for many reasons and our rapidly expanding geographic footprint in the United States has been one of the strongest signals. We proudly announce our monthly sales figures because we’re regularly seeing more than 200% year-over-year growth each month. This not only speaks to our acquisition strategy and due diligence being effective, but I would also like to thank all the teams for the speed and efficiency with which we have effectively integrated our acquisitions and enabling them to be immediately accretive.”
He continued, “With each strategic acquisition and subsequent expansion, more customers and potential partners are recognising the way our MagneGas2® is transforming their industries in a positive and environmentally focused way. Revenue for the third quarter, ended 30th September, 2018 increased 195% to $2.6m, largely driven by these new acquisitions.”
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