NewGen Reports on Status of Strategic Initiatives
13 December 2006 - 1:47AM
Business Wire
NewGen Technologies, Inc. (�NewGen�) (OTCBB: NWGN) today reports on
the status of its strategic initiatives. NewGen�s mission is to
become the leading global �fully-integrated� manufacturer and
distributor of premium biofuels to dramatically reduce the
environmental and economic impact of world petroleum use � in the
automotive, aviation, marine, rail and power generation sectors.
NewGen has developed a unique and unprecedented business strategy
for a biofuel company �From the Fields to the Wheels� � integrating
into existing traditional petroleum hydrocarbon infrastructure a
number of essential elements to ensure the emergence of a biofuel
industry on a scale where it is a new and lasting strategic player.
A key strategic goal of NewGen is to provide its customers with the
highest quality biofuel-blended products at its own pumps. To
achieve this objective, NewGen or its subsidiaries have: Acquired 3
fuel terminals on the Colonial & Plantation Pipelines in North
Carolina, South Carolina and Georgia from Crown Central LLC. These
terminals have over 10 million gallons of storage and over 500
million gallons of throughput capacity. Acquired a controlling
interest in IPF, an international engineering firm headquartered in
Germany, to further strengthen its Actanol BioEngineering unit.
This acquisition enhanced NewGen�s ability to build its own
high-quality biofuel plants around the world. Begun development of
a Biodiesel plant in Sandersville, Georgia supporting its regional
focus in the Southeastern United States with capacity of 60 million
gallons per year. Formed a business unit in Asia focused on local
feedstock development, procurement and the development of a
Biodiesel plant in Singapore with capacity of 240 million gallons
per year. Pursued the organic development and acquisition of
synergistic business units. Wholly owned subsidiary ReFuel America,
will be NewGen�s main focus in establishing distribution of blended
fuels in the United States utilizing company-owned facilities
including refinery, pipeline and rail connected fuel terminals.
This distribution network will enable local wholesalers and retail
customers, initially throughout the Southeast of the USA, to have
access to ReFuel�s own branded premium, renewable,
environmentally-friendly biofuels (biodiesel and ethanol blends) at
its own bulk terminals and local gas station pumps. �NewGen is now
at its tipping point due to the hard work of more than 50 of our
key personnel worldwide. We are now poised to grow rapidly,� said
Bruce Wunner, NewGen�s Vice Chairman and CEO. �Our team is very
focused on synergistic acquisitions. We will exploit opportunities
to use the technological R&D expertise of NewGen to help
acquisition targets expand products and revenue through their
established distribution channels,� said Michael F. D�Onofrio,
NewGen�s Senior Vice President. �We are delighted with our
progress.� About NewGen Technologies, Inc. NewGen's mission is to
be a leading global manufacturer, blender and distributor of
premium biofuels and hydrocarbon blends that are intended to
dramatically reduce the environmental and economic impact of world
petroleum use. NewGen believes that it has developed the cleanest
burning and highest performing fuels in the world by utilizing its
own technology that allows for more complete combustion. The vision
of NewGen and ReFuel America, NewGen's wholly-owned U.S.
subsidiary, is a world less dependent on oil, using secure,
homegrown renewable 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 websites:
www.newgenholdings.com & www.refuelamerica.com &
www.actanolbio.com & www.ip-fischer.de &
www.newgenasia.com.sg Investor Information: To request investor
information and attend online corporate meetings, please visit our
website 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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