MagneGas Applied Technology Solutions, Inc. appointed Scott Mahoney as Chief Executive Officer. The Company's technology strategy also entails leveraging its advanced plasma arc technology to establish a dominant position within key markets and verticals. Mr. Mahoney has served as Chief Financial Officer (CFO) of the Company since December 2016, and replaces Ermanno Santilli, who has been appointed Chief Technology Officer (CTO) in order to focus on a number of advanced technology initiatives.

Mr. Santilli is expected to play a key role in advancing emerging technology applications for the Company's plasma arc patent portfolio. Scott Mahoney has served as Chief Financial Officer and Secretary since December 2016. Mr. Mahoney has almost 20 years of finance and executive management experience and has held positions at several public and privately held companies in the banking, energy and recycling industries.

Prior to joining the company, Mr. Mahoney served as Chief Financial Officer of Phoenix Group Metals, LLC. He has also served as Chief Financial Officer of several oil and gas companies and as Vice-President of JP Morgan Chase.