NWGN NewGen Technologies Inc (CE)

NewGen Technologies, Inc. (�NewGen�) (OTCBB: NWGN) today announced the formation of a new wholly-owned subsidiary, NewGen BioFuels Inc., to focus on investment and strategic partnerships in renewable fuel production ventures, providing ReFuel America�s fuel supply & distribution operations with the lowest-cost, highest quantity biofuels (ethanol and biodiesel). The mission of NewGen BioFuels Inc. (�NBI�) is to identify and acquire whole or part ownership of biofuels producers that will provide significant and immediate opportunities for a return on investment as well as biofuels off-take agreements that will provide NewGen and ReFuel America ample supplies of biofuels for the growing U.S. transportation fuel market. In addition, NBI will source the lowest-cost worldwide feedstocks to ensure profitable operations at these production facilities. James Peeples will serve as president of NBI and continue in his role as senior vice president of Business Development and Government Relations for NewGen Technologies, Inc., NBI�s and ReFuel America�s �parent� company. Mr. Peeples brings a strong entrepreneurial vision and recognized 23-year history of major contributions to cleaner-burning, renewable transportation fuels policy, product & market development, technical proof of concept and project implementation. Peeples also offers strong expertise in motor fuel and engine emissions control technologies. He is a recognized expert in the commercial expansion of renewable transportation fuels in the United States and globally. Peeples maintains a vast network of successful professional contacts across government and the private sector from agriculture to petroleum product refining. NBI�s strategic plan for expansion upon its initial mandate to supply the ReFuel America terminals and the APPCO supply agreement: 1. Secure Biofuel Supplies (ethanol and biodiesel) for ReFuel America terminals and other independent wholesale and retail customers like APPCO. This will be accomplished through strategic agreements and acquisitions that will enhance core profitability of NewGen�s supply and distribution operations, ensure the highest quality fuels, as well as maintaining environmental responsibility in the markets we serve. NBI will be a leading supplier of biofuel products initially in Tennessee, Virginia and Kentucky thanks to NewGen�s long-term strategic agreement with APPCO, which is expected to close in September 2007. APPCO operates in six Southeastern States selling over 450 million gallons of fuel products annually through over 200 retail outlets and through independent wholesale dealers. This market alone represents potentially as much as 50 million gallons or more of biofuels sales. ReFuel America�s four petroleum product terminals, strategically located along two of the nation�s largest common carrier pipelines in North Carolina, South Carolina and Georgia, give NBI and ReFuel America the opportunity of directly providing over 800 million gallons of blended biofuel products. Revenues from just these terminals when fully operational, given this amount of fuel sales capacity, are estimated to be in excess of $1 billion per year. 2. Seek Investment Opportunities through NBI of destination production facilities near to efficient transportation to large fuel markets that would vertically-integrate and increase our leverage and position in the biofuel production and supply chain from the �Fields to Wheels��. NBI�s highly experienced management team, strategic partners and investors are also pursuing the targeted acquisition of global and domestic biofuels feedstocks to supply the needs of NewGen�s production partners that will supply the company�s existing and future fuel distribution network. 3. Expand Markets we serve, starting in the Southeastern United States, through strategic acquisitions and organic growth in surrounding markets. NewGen plans to be a market leader in the distribution of ethanol and biodiesel blended products that that are intended to dramatically reduce the environmental and economic impact of world petroleum use and generate a higher return on investment for our shareholders. �As a unique, vertically integrated biofuel production, supply, and distribution company, NewGen will grow by leveraging its existing assets and expanding distribution supply agreements already in place," said Peeples. �We are working to expand our operations, staffing up our new biofuels subsidiary with an experienced team of professionals, and maintaining our focus on further distribution of quality fuels to many customers, ultimately leading to significant growth in our surrounding markets in the Southeastern United States.� About James Peeples: Accomplishments Include: Identified, secured and managed millions of dollars of U.S. Federal Government appropriations funding, state grants, and local project awards for clean fuel research and biofuels demonstration projects. Designed, managed, and implemented many successful engine and fuels laboratory testing projects for trade groups and private companies. Guided a non-U.S. clean-diesel additive company through regulatory compliance, technical �proof of concept� and recognition in the United States. Directed and substantially contributed to the technical, economic, and market development justification necessary for U.S. soybean farmers (United Soybean Board) to invest in a new U.S.-based renewable diesel fuel (biodiesel), leading to the foundation of the National Biodiesel Board (NBB). Recognized as an international expert in the field of renewable transportation fuels, including technical, economic, and regulatory verifications necessary for new fuel and engine technologies to capture a share of the mature, petroleum-dominant marketplace. Developed and supported significant federal, state and local legislation and regulations that have enabled the expansion of cleaner-burning renewable transportation fuels (ethanol and biodiesel) in the U.S. (including the Alternative Motor Fuels Act of 1988, the Clean Air Act Amendments of 1990, and the Energy Policy Acts of 1992 and 2005). Achieved recognition for �non-traditional� diesel fuel technologies from two of the largest segments of the diesel fuel marketplace (U.S. Department of Defense and the U.S. mining industry). Marketed fuel ethanol (in gasoline, diesel, and as an alternative fuel) and biodiesel to other government agencies and U.S. centrally-fueled fleet customers. Professional History: General Counsel: Recruited to expand scope of professional consulting services for a firm representing Archer Daniels Midland (ADM), the Renewable Fuels Association, and other fuel ethanol interests during the early stages of industry growth. Authored the first definitive guide to federal and state incentives, the requirements for renewable transportation fuels and the phaseout of lead in gasoline. Herman & Associates, Washington, D.C., October, 1983 � January, 1985 Senior Executive: Directed consulting firm�s legislative and regulatory affairs practice, representing trade groups and companies before the U.S. Congress, federal & state legislatures & regulatory agencies, the media, the courts, and through other advocacy. Information Resources, Inc., Washington, D.C., January 1985 � March, 1995 Independent Industry Consultant: Provided professional expertise and analytical services to private companies investing in cleaner and renewable fuel or fuel additive manufacturing or marketing, as well as consulting to the U.S. Departments of Energy and Agriculture, trade associations, and others. Washington, D.C., March, 1995 - November, 1998 Partner, Clean Fuel Marketing: Developed company that has emerged as a highly-regarded �boutique� marketer of cleaner-burning, renewable transportation fuels to federal agencies (DoD, USPS, etc.) and state & local fleets across the United States. PMC Marketing Group, Inc., Birmingham, Alabama, March, 1995- present Executive Vice President: Facilitated taking a non-U.S. company from its arrival in the United States (1998) through transition to a publicly-traded company. Responsibilities included designing and implementing rigorous regulatory testing program for its ethanol-diesel blended fuel, introducing the product to fleets and other stakeholders and providing outreach to the technical and standards-setting community. Lobbied for, secured, staffed and directed over $9 million for product R&D and other �proof of concept� technical activities. O2Diesel Corporation, Newark, Delaware, November, 1998 � February, 2006. Vice President & Board Member: Planned for and provided extensive technical, regulatory, and funding assistance with the development of the world�s first bioethanol electric-hybrid locomotive as a key member of a U.S. start-up company. Prototype of this new �disruptive technology� will be built, verified, and demonstrated in 2007 - 08. AHL-TECH, LLC, Milford, Ohio, February, 2006 - present Memberships & Affiliations: District of Columbia Bar Association (since 1983) National Conference on Weights & Measures (NCWM) � Petroleum Subcommittee American Society of Agricultural Engineers (ASAE) Society of Automotive Engineers (SAE) National Ethanol Vehicle Coalition (NEVC) � Board of Directors American Society for Testing & Materials (ASTM) � Standards Task Force Chairman Texas Renewable Energy Industries Association (TREIA) � Board of Directors New Uses Council (U.S. Department of Agriculture) E diesel� Consortium � Steering Committee, Laws & Regulations Committee Chairman Education: Juris Doctor degree from Antioch School of Law (Washington, DC); Bachelor of Arts degree (International Affairs & Economics) from the Florida State University (Tallahassee, FL). About NewGen Technologies, Inc. NewGen�s strategic business plan 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 transportation 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 & 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.