MagneGas closes sale of $1.9 MM gasification unit
TAMPA, Florida — MagneGas Corporation, a clean technology company in the renewable resources and environmental solutions industries, announced the closing of a $1.9 MM gasification unit sale to introduce and produce MagneGas2 to European Markets.
This sale completes the process as previously disclosed in a letter of intent announced on Sept. 26.
"As part of our recent meetings in Europe, we met with various corporate advisors and government parties involved in the financing of our partner," said MagneGas CFO, Scott Mahoney. "With this ground work in place, we are quite optimistic that the follow on option agreement for an additional five units will be executed and a 50% nonrefundable deposit will be exercised in Q1 2018."
The ongoing development of shale gas resources in the US has spurred infrastructure construction for both natural gas processing capacity and LNG export terminals.
Russian natural gas monopoly Gazprom is strengthening its presence in the gas market of the Middle East through the planned construction of an 11-metric-MMtpy–12-metric-MMtpy LNG plant in Iran.
ADIP ULTRA: ADIP-X Reimagined
View on Demand
Shell Global Solutions International BV (Shell) is launching the improved process technology ADIP ULTRA, for cost-effective removal of CO2 down to <50ppmv. The ADIP ULTRA process is applicable in gas plants, LNG, pre-NGL, refinery HMUs and gasification syngas.
•Discover how looking back at decades of ADIP and ADIP-X operational experience has led to the cost effective ADIP ULTRA process
•Understand how Shell’s new absorption column internals can further enhance process performance
•Learn how Shell is a reliable partner of choice who helps you get the most out of your unit
•An opportunity to ask questions to Shell’s technical experts
May 9, 2017 9am UTC
View on Demand