New U.S. Company Turns Liquid Waste into Fuel

(BUSINESS WIRE)--MagneGas Corporation, approved to be quoted on the Over the Counter Bulletin Board on September 30, 2008, symbol “MNGA” (OTCBB:MNGA), announces that it has signed an exclusive and all-encompassing license with HyFuels, Inc. for the MagneGas Technology for North, South, Central America and the Caribbean Islands. This intellectual property consists of all relevant present and future patents, patent applications, trademarks and domain names. The license also includes an exclusive option for the purchase of all related patents, patent applications and intellectual property.

MagneGas is a cost competitive, clean-burning natural gas alternative made from liquid waste. The patented Plasma Arc Flow™ system gasifies liquid waste such as sewage, sludge, manure and certain industrial and oil-based liquid wastes. The development of this cost competitive fuel is the result of the hard work of former Harvard scientist Ruggero Santilli.

“We are extremely excited about this technology. We can now create our own fuel while we recycle liquid waste,” Dr. Santilli says. “Today’s gas prices are a clear sign why we need to start looking seriously at alternative fuel sources like MagneGas.”

The Plasma Arc Flow refinery uses a patented electrical process to decompose the liquid waste molecules into atoms, and the atoms are then recombined into MagneGas. The system creates this hydrogen-based natural gas alternative, which can power bi-fuel cars running on natural gas, cooking grills, industrial equipment, and homes. It is also an ideal metal cutting and welding fuel that independent users rate as more precise and effective than other metal cutting fuels on the market today. MagneGas exhaust has been independently certified to surpass all E.P.A. requirements without a catalytic converter, making it dramatically cleaner then fossil fuel.

Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as “anticipate, “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “intend,” and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of MagneGas Corporation (the “Company”) to be materially different from those expressed or implied by such forward-looking statements. The Company’s future operating results are dependent upon many factors, including but not limited to: (i) the Company’s ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company’s ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company’s control; and (iv) other risk factors discussed in the Company’s periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under “Search for Company Filings.

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