It's called electrolysis. Nothing new. If you put a charge across water, it dissociates into Hydrogen gas and Oxygen gas. Calling it "Aquygen" is the scam part.
It takes as much energy to dissociate the water as you get back during combustion. It would burn clean. I don't get the bit about combining it with gasoline (?). Using your alternator to run an electrolysis to create your own fuel would leave you with an energy deficit due to inefficiencies in combustion.