Navigation Links
New Generation Biofuels Signs Letter of Intent with Instituto Costarricense de Electricidad (ICE) of Costa Rica
Date:6/22/2009

LAKE MARY, Fla., June 22 /PRNewswire-FirstCall/ -- Renewable fuels provider New Generation Biofuels Holdings, Inc. (Nasdaq: NGBF) today announced that it has signed a Letter of Intent with Instituto Costarricense de Electricidad (ICE), an Autonomous Institution of the Government of Costa Rica.

Under the terms of the letter of intent, ICE will evaluate NGBF's biofuels, leading ultimately to the potential licensing of NGBF technology and to the construction of its own biofuel production plants employing NGBF's process in Costa Rica for use in its electric generation plants. It is also the intent of the parties that the process outlined in this letter shall be completed within a period no longer than three months.

"We look forward to working with ICE to explore this opportunity to provide Costa Rica with an environmentally sound fuel, based on locally produced feedstock, which should mitigate the need to use Costa Rica's foreign exchange earnings to purchase imported fuel oil," said New Generation Biofuels' Chief Executive Officer, Cary Claiborne. "In addition to the expected revenue contribution for New Generation Biofuels, the successful implementation of the ICE project using our technology will provide us with an additional platform to market our biofuel technology in the U.S. and abroad."

NGBF proposes to supply ICE, initially, with biofuel produced in its production facility located in Baltimore, Maryland, for the testing program. An additional evaluation will be conducted to assess the availability within Costa Rica of palm oil, Jatropha, or animal fats suitable for use as feedstock to produce biofuel.

About Instituto Costarricense de Electricidad (ICE),

The Instituto Costarricense de Electricidad (ICE) was created by decree in April 8, 1949 with the goal of developing Costa Rica's energy resources. In addition to contributing to the sustainable development of renewable sources of energy, ICE's mission is to be the best electricity company in Central America in terms of quality, reliability, price competitiveness, client satisfaction, and to be recognized as an important contributor to the economic and social development of the country. For additional information please visit http://www.grupoice.com/

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.

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 the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008.

    Media Contact: Phil Wallis ph: (321) 363-5113
    Or pjwallis@newgenerationbiofuels.com

    IR Contact: Ed Job, CFA ph: (646)213-1914
    Or ed.job@ccgir.com

    Rob Schatz   ph: (212) 370-4500
    Or Rob@wolfeaxelrod.com


'/>"/>
SOURCE New Generation Biofuels Holdings, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Dynavax Issued Landmark Patent Covering Second-Generation TLR9 Agonists
2. Vital Images Releases Next Generation Enterprise-Wide Solutions Featuring Vitrea(R) 4.0 and ViTALConnect(R) 4.1
3. ICx Awarded $1.5 M Contract by Department of Homeland Security for Development of Next Generation Bio Aerosol Systems
4. The next generation: nanomagnets could replace semiconductors
5. BioReliance Launches Next-Generation Genotoxicity Screening Service
6. BioLife Solutions CryoStor(TM) Adopted by Tissue Regeneration Therapeutics for Preservation Protocol for New, Non-Embryonic Source of Stem Cells
7. NanoLogix Inc. Announces Historical First in Energy Generation With Bioreactor-Produced Hydrogen at Welchs
8. SeqWright Unveils ABI SOLiD(TM) Next Generation Genetic Analysis System
9. SLIM Search, Inc. Sponsors Next Generation Sequencing Conference for the Biomedical Market
10. Boston Scientific Announces European Approval of Next-Generation Implantable Defibrillator
11. Sangamo BioSciences Announces ZFP Therapeutic Data From Nerve Regeneration Program at Society for Neuroscience Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2017)... ... June 23, 2017 , ... RURO, Inc., ... version of LimitLIS®, its rapidly growing Laboratory Information System. , LimitLIS® version 3 ... installation integrity, and provide more customization options. Each of these has been “under ...
(Date:6/23/2017)... ... June 23, 2017 , ... DocCafe.com ... six of their healthcare job boards. As the largest network of professional ... and biotechnicians, DocCafe.com and the MedJobCafe.com Health Network work to match the ...
(Date:6/22/2017)... ... June 21, 2017 , ... Beaker, the industry’s ... in the life sciences industry, today announces a strategic partnership with Alcami Corporation, ... full advantage of Beaker’s expertise in executive recruitment solutions, providing Alcami with access ...
(Date:6/22/2017)... Scottsdale, AZ. (PRWEB) , ... June 21, 2017 , ... ... even bigger, more inspiring, and more informative on the very latest developments in radical ... energy and fun of a festival, and the empowerment of personal development, making it ...
Breaking Biology Technology:
(Date:6/14/2017)... , June 15, 2017  IBM (NYSE: IBM ) ... international tech event dedicated to developing collaboration between startups and ... on June 15-17. During the event, nine startups will showcase ... value in various industries. France ... the international market, with a 30 percent increase in the ...
(Date:5/6/2017)... -- RAM Group , Singaporean based technology ... biometric authentication based on a novel  quantum-state ... perform biometric authentication. These new sensors are based on a ... Group and its partners. This sensor will have widespread ... security. Ram Group is a next generation sensor ...
(Date:4/17/2017)... April 17, 2017 NXT-ID, Inc. (NASDAQ: ... the filing of its 2016 Annual Report on Form 10-K on ... ... is available in the Investor Relations section of the Company,s website ... SEC,s website at http://www.sec.gov . 2016 Year Highlights: ...
Breaking Biology News(10 mins):