MagneGas Generates $1.06 Million in Sales for April 2018; 263% Year over Year Revenue Growth

MagneGas Corporation (NASDAQ:MNGA), a leading clean technology company in the renewable resources announced that the company generated record sales of $1.06 million for April 2018.

The company said that the record growth was largely due to its recent acquisitions that expanded the company into California, Texas and Louisiana.

As quoted in the press release:

‘We are pleased to see our growth strategy achieving strong results,” commented Ermanno Santilli, CEO of MagneGas. ”We have seamlessly integrated three separate companies in diverse end markets across California, Texas and Louisiana in the first few months of 2018. We more than tripled our sales force and now have access to tens of thousands of clients and new prospective customers in the best industrial gas markets in the United States. Our team is doing an excellent job growing our already strong client relationships, while aggressively going out into the market and adding new clients every day. We are confident that our strategy will continue to generate strong results going forward.”

”Clearly our recent acquisition strategy is having a positive impact on our ability to generate growing sales, with a clear path to scale in the key domestic markets,” commented Scott Mahoney, CFO of MagneGas. ”As our pace of acquisitions slows, we are able to devote significant resources to optimizing our operations and improving our bottom line. We continue to make meaningful progress towards a profitable and self-sustaining growth model.”

Click here for the full text release.