New Generation Biofuels Holdings Announces its First Biofuels Sales Contract with Dynegy Inc.
04 Junio 2008 - 7:30AM
PR Newswire (US)
HOUSTON, June 4 /PRNewswire-FirstCall/ -- New Generation Biofuels
Holdings, Inc. (AMEX:GNB) announced today it has entered into its
inaugural biofuels sales contract with a subsidiary of Dynegy Inc.
The contract calls for New Generation Biofuels to supply up to 1.7
million gallons per year of biofuel for use at Dynegy's power plant
in Oakland, California. David A. Gillespie, President and CEO of
New Generation Biofuels, said: "We're excited to have Dynegy as the
first power plant operator to sign a biofuels contract with our
company. Furthermore we see this development as a validation of our
New Generation Biofuels technology in the power generation
industry." "This contract with New Generation Biofuels will be a
continuation of our efforts in providing customers with
competitively priced energy from both renewable and conventional
sources," said Randy Hickok, Managing Director of Asset Management
for Dynegy Inc. About New Generation Biofuels Holdings, Inc. New
Generation Biofuels is a renewable fuels provider. We hold an
exclusive license for North America, Central America and the
Caribbean to commercialize proprietary technology to manufacture
alternative biofuels from vegetable oils and animal fats that we
intend to market as a new class of biofuel for power generation,
heavy equipment, marine use and as heating fuel. We believe our
proprietary biofuel can provide a cheaper, renewable alternative
energy source with significantly lower emissions than traditional
fuels. Our business model calls for establishing direct sales from
manufacturing plants that we may purchase or build and sublicensing
our technology to qualified licensees. Forward Looking Statements
This news release contains forward-looking statements. These
forward-looking statements concern our operations, prospects,
plans, economic performance and financial condition and are based
largely on our current beliefs and expectations. These statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results to be materially different from any
future results expressed or implied by such forward-looking
statements. The risks and uncertainties related to our business
include all the risks attendant a development stage business in the
volatile energy industry, including, without limitation, the risks
set forth under the caption "Risk Factors" in our Annual Report on
Form 10-K for the fiscal year ended December 31, 2007. CONTACT:
David Gillespie, President & CEO New Generation Biofuels, Inc.
713-973-5720 Rob Schatz Wolfe Axelrod Weinberger Associates, LLC.
212-370-4500 DATASOURCE: New Generation Biofuels Holdings, Inc.
CONTACT: David Gillespie, President & CEO of New Generation
Biofuels, Inc., +1-713-973-5720; or Rob Schatz of Wolfe Axelrod
Weinberger Associates, LLC., for New Generation Biofuels Holdings,
Inc., +1-212-370-4500
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