SOURCE: MagneGas Corp.

MagneGas Corp.

March 03, 2010 09:00 ET

MagneGas Books First International Fuel Sale, Makes Middle East Commercial Debut

TAMPA, FL--(Marketwire - March 3, 2010) - MagneGas Corporation ("MagneGas" or the "Company") (OTCBB: MNGA), a producer of a metal working fuel and natural gas alternative made from liquid waste, announced today that it has booked and received payment for its first international sale of MagneGas™, selling 294 cylinders of the MagneGas™ fuel to United Arab Emirates ("UAE")-based United Gas Company ("UNIGAS"). The Company and UNIGAS first entered into a Strategic Alliance Agreement ("SAA") in November 2009. With this sale MagneGas has converted its first international exploratory partnership into commercial reality, and will have actual MagneGas™ fuel on the ground and in use in the potentially lucrative Middle East.

UNIGAS intends to use this first shipment to confirm its demand expectations for the UAE, and Dubai in particular. UNIGAS has secured the rights to be the distributor of MagneGas™ for the region, and will source product from MagneGas in the near term. Longer term, UNIGAS has expressed interest in purchasing equipment from the Company and producing fuel locally.

To view the original SAA announcement, click on the following link:
http://studio-5.financialcontent.com/ir/?Module=MediaViewer&GUID=10821601&Ticker=MNGA.

"At the time, our announcement of the SAA with UNIGAS was one of the most significant developments in our Company's history; this conversion of the agreement into sales trumps even that," stated MagneGas President Richard Connelly. "With this initial batch sale we have taken a huge step to becoming a global supplier. We believe that this event will precipitate additional agreement-to-sales conversions among our other international relationships, and pave the way for both expanded fuel sales and higher ticket equipment sales around the world."

To be added to the MagneGas investor email list, please email justin.davis@cirrusfc.com with MNGA in the subject line.

About MagneGas Corporation (www.magnegas.com)
Founded in 2007, Tampa-based MagneGas Corporation (OTCBB: MNGA) is the producer of MagneGas™, a natural gas alternative and metal working fuel made from liquid waste such as sewage, sludge, manure and certain industrial and oil based liquid wastes. The Company's patented Plasma Arc Flow™process gasifies liquid waste, creating a clean burning fuel that is essentially interchangeable with natural gas, but with lower green house gas emissions. MagneGas™ can be used for metal cutting, cooking, heating or powering bi fuel automobiles.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. 

Contact Information