Tampa, Florida – April 1, 2009 – MagneGas Corporation (“MagneGas” or the “Company”) (OTC BB: MNGA), a producer of a metal cutting fuel and natural gas alternative made from liquid waste, announced today that it has purchased 12.5% of India-based Jeruz MagneGas, Pvt. Limited (“Jeruz”), the exclusive licensee of the MagneGasTM Technology for India, Pakistan, Bangladesh and Sri Lanka. As part of the transaction, MagneGas has also secured the rights to 5% royalties on all eventual sales of MagneGasTM equipment manufactured by Jeruz. Learn more about Jeruz at its parent company Website: www.jeruzenergy.com. For more details on the transaction please view the 8-K filing with the SEC at http://idea.sec.gov/Archives/edgar/d... .
“On the eve of the broad commercialization of the MagneGasTM Technology, it is an important victory for MagneGas Corporation to secure rights to a portion of one of the world’s most populous markets,” stated MagneGas CEO Dr. Ruggero Santilli. “Fossil fuel consumption in the region is growing at extraordinary rates, rates only matched by growing concerns around liquid waste management and a depleted clean irrigation water supply. The MagneGasTM Technology could be both a dramatic financial success in the region, as well as a significant benefit to humanitarian and environmental efforts. Our launch focus remains our home market of the United States, though we will continue to opportunistically explore international expansion.”
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About MagneGas Corporation Founded in 2007, Tampa-based MagneGas Corporation (OTC BB: MNGA) is the producer of MagneGasTM, a natural gas alternative and metal cutting fuel made from liquid waste such as sewage, sludge, manure and certain industrial and oil based liquid wastes. The Company’s patented Plasma Arc FlowTM process gasifies liquid waste, creating a clean burning fuel that is essentially interchangeable with natural gas, but with lower green house gas emissions. MagneGasTM can be used for metal cutting, cooking, heating or powering bi fuel automobiles.
CONTACT:
Cirrus Financial Communications, LLC Justin K. Davis
(866) 330-MNGA (6642)
Justin.Davis@cirrusfc.com
www.cirrusfc.com
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