LAKE MARY, Fla., March 26 /PRNewswire-FirstCall/ -- Renewable fuels provider New Generation Biofuels Holdings, Inc. (Nasdaq: NGBF), today announced that it is has signed a sales contract with Catoctin Mountain Growers, Inc. ("Catoctin") of Keymar, Maryland to supply up to 370,00 gallons of renewable biofuel annually.
"We are delighted to be supplying a proactive and environmentally aware company like Catoctin Mountain Growers with our biofuel, which provides a lower carbon footprint and is 100 percent renewable," said Cary Claiborne, chief executive officer and chief financial officer of New Generation Biofuels. "In a test completed on one of Catoctin's Cleaver-Brooks boilers, our biofuel demonstrated air pollution reductions of more than 45% in nitrogen oxides (NOx) and the virtual elimination of sulfur dioxide (SO2) when compared to low-sulfur fuel oil. In addition, the renewable biofuel burned successfully with only minor tuning to the customer's equipment. Steps like these, when replicated across the country, will help lower the net emission of greenhouse gases in the United States," Claiborne added.
"As a company we are always looking for ways to reduce our cost," said Bob Van Wingerden, president of Catoctin Mountain Growers. "When New Generation Biofuels responded to an e-mail query with a biofuel at a reduced cost per Btu we were interested. After doing the test burn and seeing the positive difference in emissions, we were sold. Being able to reduce cost while leaving a smaller carbon footprint is an opportunity we could not pass up," Van Wingerden concluded.
About New Generation Biofuels Holdings, Inc.
New Generation Biofuels is a development-stage 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 Catoctin Mountain Growers, Inc.
Catoctin Mountain Growers, Inc., located near Detour, Maryland, is a greenhouse operation started by Bob and Denise Van Wingerden in 1985. It is a wholesale greenhouse offering spring bedding plants, fall pansies, hardy mums and poinsettias. The company sells primarily to large outlets such as Sam's Club, Wal-Mart and supermarkets. The operation now has 12 acres covered by greenhouses as the current expansion completed in January 2008.
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 and in our Quarterly Reports on Form 10-Q for the quarters ended June 30, 2008 and September 30, 2008.
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|SOURCE New Generation Biofuels Holdings, Inc.|
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