COLUMBIA, Md., May 27 — Renewable fuels provider New Generation Biofuels Holdings, Inc. (Nasdaq: NGBF) (”NGBF” or the “Company”) today announced they have filed a patent application on their new glycerin-based biofuel.
“We are excited to add this technology to our intellectual property portfolio,” said Cary J. Claiborne, CEO and President of NGBF. “This new technological development allows us to use glycerin as a primary feedstock to formulate our highly stable new biofuel which complements our existing products and will be an additional offering we have for the markets we serve.”
“This new patent pending technology offers another effective biofuel solution for our customers’ environmental and performance challenges,” added Chief Technology Officer Dr. Andrea Festuccia. “It is formulated, as are our other technologies, to reduce emissions while providing physical product properties that are desirable for many of our customers’ needs. The low viscosity and temperature characteristics such as an extremely low pour point should be very attractive for many of the markets we serve. In addition, converting from existing liquid fuels to our technology should require little if any modifications to existing fuel combustion systems.”
“As a biofuel technology company we have a very aggressive and focused research and development program led by Dr. Festuccia that addresses a number of important and differentiating areas,” stated Mr. Claiborne. “From our wide array of approved feedstocks addressing security of supply and cost issues to new patent pending products such as this new glycerin-based biofuel technology, Andrea and his team provide technology that creates unique solutions for our customers. Our R&D programs make a difference.”
New Generation Biofuels develops renewable fuels technology and is a renewable fuels provider. New Generation Biofuels also holds an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from plant 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, 2009, and in subsequent filings with the Securities and Exchange Commission.
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