TAMPA, FL--(Marketwire - 05/24/11) - MagneGas Corporation ("MagneGas" or the "Company") (OTC.BB:MNGA - News), the producer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced today that its MagneGas™ fuel is being tested as an environmentally-friendly alternative for major US Navy metal cutting projects. The US Navy has tasked the National Center for Manufacturing Sciences (NCMS) (www.ncms.org) with developing new methods to reduce emissions during the breakup and recycling of retiring vessels, including the nuclear aircraft carrier USS Enterprise. NCMS has identified MagneGas™ fuel as a "green" alternative available to the metal cutting market, and is currently testing it as a means to enhance compliance with air pollution and clean water requirements. To learn more about the project, visit http://bit.ly/jXSFAM."While still at its earliest stage, we are honored to be considered as a potential metal cutting solution for the US Navy, the largest naval fleet in the world," stated MagneGas President Scott Wainwright. "We are confident that our fuel could indeed help the Navy reduce its metal cutting emissions, while also maintaining or enhancing its process efficiency. We are working closely with NCMS and look forward to reporting their conclusions.""Controlling air emissions and opacity levels on large-scale metal cutting during dismantling naval vessels is a very important air pollution compliance concern in the Puget Sound region," said Dana Ellis, Senior Program Manager for NCMS. "NCMS is pleased with MagneGas' participation in this collaborative R&D project intended to optimize fuel gases which produce the best combination of opacity levels and productivity during hot cutting methods at Puget Sound Naval Shipyard."About the National Center for Manufacturing Sciences The National Center for Manufacturing Sciences (NCMS) is the largest collaborative R&D consortium in North America and is dedicated to driving innovation and competitiveness among manufacturers in commercial, defense, robotics, and related industries. NCMS has a 25 year track record in the formation and management of complex, multi-partner collaborative R&D programs, using a collaborative process that delivers sustainable innovation, which reduces risk and delivers products to market faster than traditional methods. For more information, visit www.ncms.org.MagneGas can provide no assurance as to the US Navy's final decision.To be added to the MagneGas investor email list, please email email@example.com with MNGA in the subject line.Become a MagneGas fan and follow the Company on Facebook - visit www.facebook.com/MagneGas.About MagneGas Corporation (www.magnegas.com) Founded in 2007, Tampa-based MagneGas Corporation (OTC.BB:MNGA - News) is the producer of MagneGas™, a natural gas alternative and metal working fuel that can be made from industrial, municipal, agricultural and military liquid wastes following the receipt of appropriate governmental permits.The Company's patented Plasma Arc Flow™ process gasifies liquid waste, creating a clean burning hydrogen based fuel that is essentially interchangeable with natural gas, but with lower green house gas emissions. MagneGas™ can be used for metal working, cooking, heating, powering bi fuel automobiles and more.FORWARD-LOOKING STATEMENTSThe 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.