LAKE MARY, Fla., May 7 /PRNewswire-FirstCall/ -- Renewable fuels provider New Generation Biofuels Holdings, Inc. (Nasdaq: NGBF) today announced that it has signed a contract with the City of Baltimore, Maryland,("the City") to provide its renewable biofuel in an evaluation program for boiler applications in the heart of Baltimore. This is the first time the City of Baltimore has evaluated a non fossil fuel in its industrial boilers.
In this program, New Generation Biofuels will sell the City biofuel for evaluation in various city municipal buildings. The outcome of the evaluation is expected to further validate New Generation Biofuels' product as a renewable biofuel which uniquely offers NOx and SO2 reductions as compared to traditional distillate products and provide a platform for the City of Baltimore to expand its RFP definitions to include alternative technology biofuels such as New Generation Biofuels in future tender submissions.
"We are enthusiastic to be working with the City of Baltimore on this evaluation program," said New Generation Biofuels' Chief Executive Officer, Cary Claiborne. "The City of Baltimore understands the importance of a sustainable biofuel to reduce overall greenhouse gas emissions and the importance of using a clean, efficient fuel." Mr. Claiborne continued, "In addition, our biofuel can be used as a 100 percent fuel switch with minimal modification to a customer's equipment."
Department of Public Works (DPW) Energy Advisor Ted Atwood stated, "The Energy Office is constantly looking for new and innovative ways to reduce and save on energy costs in sustainable ways that will benefit our City now and into the future. To that end, I am eager to start the evaluation phase."
About New Generation Biofuels Holdings, Inc.
New Generation Biofuels is a renewable fuels provider. New Generation Biofuels holds 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 it markets as a new class of biofuel for power generation, commercial and industrial heating and marine use. The Company believes that its proprietary biofuel can provide a lower cost, renewable alternative energy source with significantly lower emissions than traditional fuels. New Generation Biofuels' business model calls for establishing direct sales from manufacturing plants that it may purchase or build and sublicensing its technology to qualified licensees.
About The City of Baltimore
The City of Baltimore consumes approximately 10 million gallons of fuel oil per year within the City and schools. The Baltimore City Department of Public Works Energy Office is implementing energy efficiency and renewable energy projects at City facilities to reduce energy costs and carbon emissions and to improve air quality. Already in place are energy efficiency measures for buildings, installation of LED lights, and utilization of methane gas from renewable sources. Future projects will include expansion of energy efficiency applications from buildings to water and waste water operations; reduction in use of fossil fuels; and increasing solar and other renewable energy applications. Through reduced purchases of electric power, steam, natural gas, chilled water and reduced maintenance costs the city realizes a savings of $5 million per year.
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, 2008.
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|SOURCE New Generation Biofuels Holdings, Inc.|
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