NewGen Announces Strategic Initiatives to Accelerate Growth and Shareholder Value with Continued Expansion in Biofuel Sector
07 Agosto 2007 - 4:20PM
Business Wire
NewGen Technologies, Inc. (�NewGen�) (OTCBB: NWGN) today announced
its Strategic Initiatives for this year and fiscal 2008 following
the 10-year agreement to supply all the biofuel requirements of
Appalachian Oil Company (�APPCO�). NewGen is focused on identifying
and acquiring whole or part ownership of operating businesses that
provide significant and immediate opportunities for growth of
blended biofuel supply and distribution under its �ReFuel America�
division banner. These efforts began in 2005 and 2006 with the
acquisition of three petroleum product storage terminals
strategically located on the Colonial and Plantation pipelines in
North Carolina, South Carolina and Georgia, and an additional South
Carolina fuel terminal acquisition in 2007. These acquisitions give
NewGen and ReFuel America the opportunity of directly supplying
more than 800 million gallons of blended biofuel products. Revenues
from NewGen�s existing terminals when fully operational, given this
amount of fuel sales capacity, are estimated to be in excess of $1
billion annually. NewGen has outlined a clear, three-part strategic
plan for expanding upon its initial progress with the fuel terminal
acquisitions and APPCO supply agreements in the alternative energy
sector: 1. Secure BioFuel Supply (ethanol and biodiesel) through
strategic agreements and acquisitions that will enhance core
profitability at wholesale and retail distribution, ensure the
highest quality fuels, as well as maintaining environmental
responsibility in the markets we serve. NewGen will be a leading
supplier of biofuel products initially in Tennessee, Virginia and
Kentucky with the agreement with APPCO, which is expected to close
in September 2007. APPCO operates in six Southeastern States
selling more than 450 million gallons of fuel products to more than
200 retail gas stations and independent wholesale dealers. James
Peeples, NewGen�s Senior VP Business Development and Government
Relations said, �We are committed to increasing our distribution of
biofuels to include the highest quality ethanol and biodiesel
blends. Our management team, strategic investors and partners are
pursuing innovative supply agreements and acquisitions in the
Southeast United States that will enable the company to increase
access to competitively-priced biofuel products.� 2. Seek
Integration Opportunities through NewGen, ReFuel America and
subsidiaries to vertically-integrate and increase our leverage and
position in the biofuel product chain from the �Fields to Wheels�.�
NewGen�s management team, strategic partners and investors are
pursuing the targeted acquisition of global and domestic natural
resources to upstream into NewGen�s existing fuel distribution
channels. 3. Expand Markets we serve through strategic acquisitions
and organic growth in markets across the Southeastern United
States. NewGen has set its sights on being a market leader in the
distribution of ethanol and biodiesel blended products that are
intended to dramatically reduce the environmental and economic
impact of world petroleum use and produce a higher return to our
shareholders. �NewGen will grow by leveraging its existing North
Carolina, South Carolina and Georgia fuel terminals locations and
distribution supply arrangements," said S. Bruce Wunner, Chairman
and CEO of NewGen. "We will work to expand our operations with the
continued focus on further distribution of fuels to the end
consumer with growth in our surrounding markets in the Southeast.�
About NewGen Technologies, Inc. NewGen�s mission is to be a leading
global fully integrated �Fields-to-Wheels�� manufacturer and
distributor of premium biofuels and petroleum blends that are
intended to dramatically reduce the environmental and economic
impact of world fuel consumption. NewGen believes that it has
developed the highest performing fuels in the world by utilizing
its technologies that allow for more complete fuel combustion and
reduced emissions. The vision of NewGen and ReFuel America,
NewGen�s wholly-owned U.S. subsidiary, is a world less dependent on
oil, using secure, renewable, homegrown fuels which better preserve
our most important resources � the air we breathe and water we
drink. Additional information can be found at the company�s Web
sites - www.newgenholdings.com and www.refuelamerica.com. Investor
Information - To request investor information and receive company
news and e-mail updates, please visit our Web site at:
http://www.b2i.us/irpass.asp?BzID=1316&to=ea&s=0 Safe
Harbor Statement Under the Private Securities Litigation Act of
1995 - With the exception of historical information, the matters
discussed in this press release are forward-looking statements that
involve a number of risks and uncertainties. The actual future
results of NWGN could differ significantly from those statements.
Factors that could cause actual results to differ materially
include risks and uncertainties such as the inability to finance
the company�s operations or expansion, inability to hire and retain
qualified personnel, changes in the general economic climate,
including rising interest rate and unanticipated events such as
terrorist activities. In some cases, you can identify
forward-looking statements by terminology such as �may,� �will,�
�should,� �expect,� �plan,� �anticipate,� �believe,� �estimate,�
�predict,� �potential� or �continue,� the negative of such terms,
or other comparable terminology. These statements are only
predictions. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, such statements
should not be regarded as a representation by the Company, or any
other person, that such forward-looking statements will be
achieved. We undertake no duty to update any of the forward-looking
statements, whether as a result of new information, future events
or otherwise. In light of the foregoing, readers are cautioned not
to place undue reliance on such forward-looking statements. For
further risk factors see the risk factors associated with our
Company, review our SEC filings.
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