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MagneGas Corporation (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, today announced that it expects revenue to exceed $7.5 million for the full year 2017, which would represent an increase of 120% compared to $3.4 million in 2016.

"The Company made a strategic decision a year ago to focus on immediate revenue generation, improving cash flows and profitability," commented Ermanno Santilli, CEO of MagneGas. "I am pleased to report that we have turned the corner, and we are on pace to generate more revenues in the fourth quarter of 2017 than we have in any full fiscal year in our corporate history.

At the same time, we have seen a meaningful improvement in operating cash flows and we have significantly improved our balance sheet. We are truly gaining momentum and significantly improving our fundamentals, which we believe will lead to continued rapid growth and profitability in 2018 and beyond."

"The entire MagneGas team has worked diligently to execute on an ambitious growth strategy over the past year," commented Scott Mahoney, CFO of MagneGas. "We spent the first two quarters of 2017 adjusting our staffing model to shift increasingly towards a sales driven model.

We then put in place the key strategic pieces to fully enable accelerated growth in ESSI in Florida, expand our distributor relationships across the eastern half of the US, while driving international sales in Italy and Germany. All of these efforts are now starting to deliver concrete financial performance that clearly demonstrates our strategy is paying off."