Magnetic Resources NL

MagneGas files patents after success of MagneGas2 product introductions


Technology company MagneGas (NASDAQ:MNGA) has moved to protect many of its technological innovations by filing for multiple patents.

The producer of MagneGas, a natural gas alternative and metal cutting fuel made from liquid waste, said the applications specifically relate to the production of MagneGas2, the processing of biomass into sterilized fertilizer and other efficiency enhancements.  

The company took this step to invest further into its intellectual property protection in response to recent success with theMagneGas2 product introductions and manure process testing, the company said.

"The company has embarked on an aggressive campaign to protect its intellectual property," said Ermanno Santilli, chief executive officer of MagneGas.  

"To that end, we have filed multiple patent applications spanning across several MagneGas processes. We recognize the enormous market potential of our products, which has become even more apparent with recent MagneGas2 marquee customer acquisitions. "In response we are taking necessary steps to help protect our systems from potential patent infringement for many years to come." 

Quick facts: Magnetic Resources NL

Price: $0.52

Market: ASX
Market Cap: $105.05 m

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