Q2Power Technologies Receives Purchase Order from MagneGas Corporation

MagneGas Corporation (NASDAQ:MNGA) has placed a purchase order for a Q2Power Technologies (OTCQB:QPWR) 10kW waste fuel-to-power system.
According to the press release:

The order represents Q2Power’s initial sale of its proprietary renewable power generator, with an expected delivery date in the second quarter of this year.
MagneGas is a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas2® fuel. Q2Power’s system will generate grid-ready electricity from certain carbon and oil byproducts that result from MagneGas’ commercial process. The initial system is expected to produce significant savings for MagneGas each year in production costs of its industrial gas products by off-setting electric utility expenses and reducing costs associated with waste storage and disposal. The first phase of this agreement with MagneGas is valued at approximately $160,000 for Q2Power including equipment and engineering services.
“Q2Power has a unique technology that we expect will provide MagneGas with increased margins on our core products, while supporting greater flexibility in our choice of feedstock and promoting our mission of environmental sustainability,” stated Ermanno Santilli, CEO of MagneGas. “We have spent considerable time with Q2Power’s leadership and engineering team and have great confidence in their ability deliver a quality system that meets our requirements.”
After installation the parties will collaborate to optimize the Q2Power system with MagneGas’ technology and business processes to allow added savings and waste volume reduction, as well as equipment cost reductions for follow-on Q2Power system sales and installations with MagneGas and its partners.

Click here to read the full press release.