NetworkNewsBreaks – MagneGas (NASDAQ: MNGA) Introduces New Feedstock That Increases Production Rate and Reduces Cost; Shares Rally
Shares of MagneGas’ (NASDAQ: MNGA) are up more than 26% mid-day after the company said it has transitioned to a new renewable feedstock that results in roughly a 60% increase in fuel output per minute while yielding approximately a 49% reduction in fuel production cost. MagneGas has a patent pending for the usage of this new feedstock in its gasification systems, which it expects will be granted. "We believe that this is significant for our company because it makes the sale of our gasification equipment more attractive to potential buyers both domestically and abroad and allows for increased market penetration…