MagneGas CEO Receives Prestigious International Science Award

TAMPA, FL--(Marketwire - March 24, 2009) - MagneGas Corporation (www.magnegas.com) ("MagneGas" or the "Company") (OTCBB: MNGA), a producer of a metal cutting fuel and natural gas alternative made from liquid waste, announced today that MagneGas CEO and Chief Scientist Dr. Ruggero Santilli was recently awarded the 2009 "Gold Prize Mediterraneo" for Science and Technology.

Dr. Santilli received the award after completing a series of lectures and panel discussions in Italy on the mathematics and physics underlying the MagneGas™ technology. According to awarding body Fondazione Mediterraneo (the Mediterranean Foundation), "The 2009 Mediterraneo Prize is awarded to Prof. Santilli for his scientific discoveries and for his advances in mathematics, physics and chemistry that have made possible the development of new technologies for the benefit of a new and sustainable environment."

The Prize Mediterraneo is awarded each year to leaders in various areas of science, medicine and social causes. Previous honorees include Price Albert of Monaco, France President Nicolas Sarkozy, King Juan Carlos of Spain, international architect Renzo Piano and others.

Considered one of the world's most prestigious awards, the Prize Mediterraneo receives significant media attention; Dr. Santilli's lectures and subsequent recognition were the subject of three feature articles in major Italian daily newspapers, and the Italian TV station Il Denaro conducted a half hour interview with Dr. Santilli as part of their esteemed and popular program "Science and Technology."

"I am both honored and humbled to receive the 2009 'Gold Prize Mediterraneo' for Science and Technology," stated Dr. Santilli. "I accept this important award in the name of all mathematicians, physicists, chemists, industrialists and technicians whose effort permitted the birth of the new sciences underlying the MagneGas™ technology."

Full details on the award will be published shortly on the Foundation's Website, accessible via the following link: www.euromedi.org/inglese/home/azioni/premio/index.asp.

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About MagneGas Corporation

Founded in 2007, Tampa-based MagneGas Corporation (OTCBB: MNGA) is the producer of MagneGas™, 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 Flow™ process gasifies liquid waste, creating a clean burning fuel that is essentially interchangeable with natural gas, but with significantly lower green house gas emissions. MagneGas™ can be used for metal cutting, cooking, heating or powering bio fuel automobiles.

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