MagneGas (OTCBB: MNGA) Retained for Large Dismantling Project in Florida

Northern, WI 1/23/12 (StreetBeat) -- MagneGas Corporation (OTCBB: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced today the Company has been retained by King Metal Recycling & Processing of Miami, in partnership with Marathon Construction and Demolition of Fort Lauderdale, to supply cutting fuel needed for the dismantling of a 13,300,000 Gallon oil tank located in Port Canaveral, FL.

For this project, MagneGas will be the lone cutting fuel used in the breakdown of the oil tank. The fuel for this venture will be delivered directly from the Company's headquarters located in Tarpon Springs, FL, as MagneGas Corporation estimates over 1,000 cylinders of MagneGas will be required to complete this undertaking. King Metal and Marathon have successfully partnered on various projects throughout the Southeast and have agreed to use MagneGas later in the year for another large joint venture project based in Alabama.

"After seeing a demonstration of MagneGas, we recognized immediately that this environmentally friendly alternative fuel is the ideal choice for this assignment," commented Pete Amador, President of King Metal Recycling & Processing. "By using the MagneGas fuel on this project, we will be able to complete the demolition of the oil tank much faster, more efficiently and at a lower cost when compared to other metal cutting fuels."

"As we continue to successfully execute on our growth strategy, new customers are beginning to see the advantages and effectiveness of using MagneGas," stated Scott Wainwright, President of MagneGas Corporation. "We are excited to be partnering with King Metal Recycling & Processing and Marathon Construction and Demolition on such an endeavor and look forward to a fruitful ongoing business relationship."

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