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New Generation Biofuels Signs Sales Contract With Seaboard Asphalt

May 14, 2009

LAKE MARY, Fla., May 14 /PRNewswire-FirstCall/ — Renewable fuels provider New Generation Biofuels Holdings, Inc. (Nasdaq: NGBF) today announced that it has signed a renewable fuel sales contract with Baltimore-based Seaboard Asphalt Products Company (“Seaboard Asphalt”).

A maker of premium-grade, asbestos-free asphalt and related products for over 60 years, Seaboard Asphalt Products is the first in its market sub-segment to choose New Generation Biofuels. Seaboard Asphalt Vice President Richard E. Campbell commented, “We are conscious of looking for ways to reduce our emissions and switching our boiler fuel to New Generation Biofuels gives us the opportunity to further reduce our emissions and carbon footprint.”

“We are pleased to announce our first contract within the asphalt industry sub-segment, where the goal of mitigating carbon emissions is likely to become increasingly important in coming years,” commented New Generation Biofuels’ Chief Executive Officer, Cary Claiborne. “We look forward to working with the Seaboard team to ramp up this contract to full capacity.”

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, 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.

    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.


Source: newswire



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