OREANDA-NEWS. August 12, 2011. MagneGas Corporation ("MagneGas" or the "Company") /quotes/zigman/526448 MNGA 0.00%, the producer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced that it has received the final USD 561,248 installment of the USD 1,061,248 commitment made by its China market partner, Beijing-based DDI Industry International ("DDI").

MagneGas executed two Securities Purchase Agreements with DDI in connection with this investment, one in the principal amount of \\$500,000 and the other in the principal amount of USD 561,248. MagneGas has now received both payments.

As DDI CEO Allen Feng previously stated, "This investment is intended to directly capitalize on the considerable strides MagneGas has made in becoming a sought-after metal working fuel alternative."