TARPON SPRINGS — Shares of natural gas firm MagneGas are now traded on the Nasdaq exchange, a step up from its previous over-the-counter status.
The firm, which developed technology that it says converts liquid waste into a hydrogen-based metal working fuel and a natural gas alternative, began trading on the Nasdaq today, according to a release. The stock symbol remains MNGA. Shares were trading for $3.75 this morning.
“We are very excited with the listing of our shares on the Nasdaq, as this represents another significant milestone for MagneGas and is the result of years of scientific, technological and financial efforts to bring forward our technologies,” MagneGas CFO Luisa Ingargiola says in a release. “We are confident the Nasdaq listing has the potential to broaden our shareholder base, improve liquidity and increase visibility of our accomplishments going forward.”
MagneGas was founded in 2007 in Tarpon Springs. Top executives include CEO Ermanno Santilli and his father, Ruggero Santilli, a scientist who founded MagneGas. Ruggero Santilli is chief scientist and chairman of the board of the company.