Waste-to-energy company MagneGas Corporation has sealed the deal on its largest single equipment sale to date and its first in Europe.
MagneGas first announced that it had signed a Letter of Intent (LOI) for the $2.65m deal with a still as-yet-unnamed German company in October 2016. The US-based business has today announced that the contract has been given the go-ahead following the signing of definitive agreements between the two parties.
The confirmed contract includes the sale of both a Gasification and Sterilisation system as well as supply of MagneGas2® fuel. It also includes royalties and expansion rights.
CEO Ermanno Santilli enthused, “We are thrilled that our original LOI progressed so quickly to definitive agreements. We believe MagneGas2 fits very well into the European markets that have been moving towards clean and renewable fuel alternatives.”
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