New Generation Biofuels Awards Contract To Design Its First Full Production Biofuel Plant
LAKE MARY, Fla.--(BUSINESS WIRE)--New Generation Biofuels Holdings, Inc. (AMEX:GNB), a provider of renewable fuels, is pleased to announce it has awarded Chicago-based ECE Design, a design contract to develop the design for its first full production biofuel manufacturing plant, with expected capacity of 25 million gallons of second-generation biofuel a year.
"ECE is pleased to be associated with New Generation Biofuels and their revolutionary technology for producing biofuels. We are currently working quickly, with detailed construction design plans expected in the third quarter," said Bill Vassey, President of ECE Design.
New Generation Biofuels CEO & President, David Gillespie said, "We are excited to have ECE Design on board. They are very familiar with alternative fuel manufacturing design and understand our need to produce a quality biofuel.
"Our renewable biofuel has demonstrated significant overall greenhouse gas (GHG) emission reductions and lessens our dependence on foreign oil. In addition, our fuel can be used as a 100% fuel switch with little or no modification to a customer's equipment. As a growing company, it is vital we increase the production of our renewable fuel to meet anticipated customer demands for the product."
About ECE Design
ECE Design is a mechanical, electrical and software systems integration company which provides turn-key design-build services. In addition, ECE develops and resells software for plant design, construction and ongoing operations. Located in Chicago, ECE provides system integration services and software solutions for various industries and markets including: Alternative Fuels, Energy, Chemical, Petrol, Food, Beverage, Pharmaceutical and Biotechnology.
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 market as a new class of biofuel for power generation, heavy equipment, marine use and as a commercial heating fuel. We believe our proprietary biofuel can provide a lower cost, 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.
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