TMCnet News
New Generation Biofuels' CEO Emphasizes Second Generation Feedstocks in Interview with theStreet.comLAKE MARY, Fla., Jan 22, 2009 /PRNewswire-FirstCall via COMTEX/ -- New Generation Biofuels Holdings Inc. (Nasdaq: NGBF) ("New Generation Biofuels" or the "Company"), a development stage renewable fuels provider, today announced that the Company's Chief Executive Officer David A. Gillespie was interviewed by theStreet.com to discuss the implications of the Obama administration on the development of biofuel markets. The interview was broadcast January 19, 2009 and can be accessed through: http://www.thestreet.com/_yahoo/video/strategysession/10458349.html?cm_ven=YAHOO In the interview, Mr. Gillespie expressed his confidence in the commitment the Obama administration has made to renewable energy, and the support the administration is expected to provide to continue nurturing the development of the second generation of the biofuels industry. According to Mr. Gillespie, companies that use feedstocks that are derived from inedible plants designed specifically to serve as energy crops, such as jatropha, algae or recycled vegetable oils, are in an excellent position to benefit from the renewed interest in biofuels. Not only are these crops being developed specifically as energy crops, but can also be grown in marginal soils, avoiding the destruction of old growth ecosystems when creating new farmland. Consequently, a much more sustainable biofuel can be created. The technology of New Generation Biofuels is particularly well-suited to provide this new generation of biofuels. The unique blending process provides the opportunity for the Company's customers to switch to this fuel without significant expenses or modification to their facilities or infrastructure. As oil prices have retreated from record highs, trips to the gas pump have become much more affordable for consumers. However, Mr. Gillespie is confident that environmentally-friendly biofuels are becoming more cost competitive over time. "[Biofuels are] getting more and more [economically competitive] every day and whether [or not] you believe in the implications of climate change, sustainability, or even national security, all of those things make it more and more important to look for a lower carbon fuel signature," Mr. Gillespie stated in the interview. About New Generation Biofuels, Holdings, Inc. New Generation Biofuels is a development stage 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 intend to market as a new class of biofuel for power generation, commercial and industrial heating and marine use. We believe our proprietary biofuel can provide a cheaper, 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 and Quarterly Reports on Form 10-Q for the quarters ended June 30, 2008 and September 30, 2008. Contact Information: New Generation Biofuels Holdings, Inc. David A. Gillespie, CEO Phone: (321) 363-5100 E-mail: [email protected] Website: www.newgenerationbiofuels.com CCG Investor Relations, Inc. Ed Job, Account Executive Phone: (646) 213-1914 E-mail: [email protected] Website: http://www.ccgir.com SOURCE New Generation Biofuels Holdings, Inc. http://www.newgenerationbiofuels.com |