MagneGas Corp., Tampa, has announced it has been awarded a $431,874 grant from the U.S. Department of Agriculture (USDA). The grant will be used to accelerate the commercialization of MagneGas' plasma arc Venturi sterilization system for the treatment of pathogens and nutrients found in animal biosolid wastes. This grant was one of 33 awarded by the USDA nationwide in 2017.
Ermanno Santilli, CEO of MagneGas, says, "We are very honored to be one of a select few companies awarded this grant by the USDA to accelerate commercialization of our sterilization technology in the agricultural market. We went through significant testing with the USDA in order to validate and prove our technology, and have invested meaningful capital, time, and personnel resources to get to this point. We look forward to now advancing a number of meaningful commercialization projects we have been developing in the U.S., Europe, Latin America and Asia."
Scott Mahoney, CFO of MagneGas says, "This funding provides a significant source of non-dilutive capital for further investment in our sterilization business segment. We have already conducted ample internal and independent validation projects that clearly demonstrate the efficacy of our sterilization technology. We now look to invest this capital into developing a clear commercialization model that can quickly convert our prospective clients in the agriculture, waste water treatment, and filtration verticals to revenue generating clients."
MagneGas, featured in the May/June 2016 issue of Renewable Energy from Waste, a predecessor of Waste Today, owns a patented process that converts various renewables and liquid wastes into MagneGas fuels. It also also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications.