NWGN NewGen Technologies Inc (CE)

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.