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New Generation Biofuels Signs First Biofuel Distributor Contract with Tri Gas and Oil

May 20, 2009

LAKE MARY, Fla., May 20 /PRNewswire-FirstCall/ — Renewable fuels provider New Generation Biofuels Holdings, Inc. (Nasdaq: NGBF), (“NGB”) today announced that it has signed a biofuel sales contract with the Tri Gas and Oil Co Inc of Federalsburg, Maryland, (“Tri Gas and Oil“) to market and distribute NGB biofuel.

Under terms of the contract, Tri Gas and Oil will endeavor to sell up to 1 million gallons in the first year of a three-year contract. Building on recent sales successes of NGBF, Tri Gas and Oil will market NGB biofuel to its existing and new customers who use stationary engines and are seeking a renewable biofuel which uniquely offers considerable NO(X) and SO(2) reductions as compared to traditional distillate products.

“Signing up Tri Gas and Oil is a major milestone achievement for us, substantiating firm renewable biofuel sales credibility for us in the marketplace and expanding our marketing depth and reach,” said New Generation Biofuels’ Chief Executive Officer, Cary Claiborne. “The Tri Gas and Oil team understands the value of a sustainable biofuel to reduce overall greenhouse gas emissions and the importance of using a clean, efficient fuel,” Mr. Claiborne continued.

John Dalina, Director of Wholesale and Transport from Tri Gas and Oil Wholesale stated, “We are very excited about our new venture with NGB. We believe NGB’s renewable fuels will complement our existing fuel portfolio extremely well and bring added value to our renewable fuel customer base.”

About Tri Gas and Oil Co Inc

Tri Gas & Oil is a family-owned and operated business, providing energy solutions for customers throughout the Delmarva region with propane gas, oil products and alternative fuels for home, agriculture and industrial uses. The company’s fuel distribution services extend beyond Maryland and Delaware to commercial and agricultural consumers throughout the mid-Atlantic region. Headquartered in Federalsburg, Maryland, Tri Gas & Oil has locations in Cambridge, Easton, Federalsburg, Galena and Georgetown, Delaware – with rail facilities in Williamsburg, Maryland.

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

    Media Contact:                            IR Contact:
    Phil Wallis ph: (321) 363-5113            Ed Job, CFA ph: (646)213-1914
    Or pjwallis@newgenerationbiofuels.com     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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