New Generation Biofuels Announces Appointment of Douglas S. Perry to Board of Directors
COLUMBIA, Md., March 4 /PRNewswire-FirstCall/ — Renewable fuels provider New Generation Biofuels Holdings, Inc. (NasdaqCM: NGBF) (“NGBF” or the “Company”) today announced the appointment of Douglas S. Perry to its Board of Directors to serve until the Company’s next annual shareholders meeting, replacing Steven F. Gilliland who has resigned from its Board due to time commitments in other business activities.
Mr. Perry is the President and Chief Executive Officer of Davenport Newberry Holdings LLC where he leads and manages an organization in the development of geothermal power projects. From 2003 to 2005, Mr. Perry was a consultant working with start-up companies and projects to develop technology verification and commercialization strategies, improve business operations and obtain funding. Before that he spent 20 years in senior leadership positions at Constellation Energy Group, including President of Constellation Power Development and Vice President and General Counsel for Constellation Holdings, the holding company for various businesses including real estate, financial investments and power plant acquisition, development and operation. He was also the Senior Vice President – Constellation Power, Inc. where he built and led an organization that successfully developed and acquired power projects in the United States and Latin America exceeding $2 billion of investments.
Prior to working at Constellation, Mr. Perry held legal positions, including serving as Special Counsel/Attorney with the Securities and Exchange Commission’s Divisions of Corporation Finance and Enforcement.
Mr. Perry holds an engineering degree and an MBA from Duke University and law degrees from Emory University and Georgetown University.
“We are extremely pleased to have Doug Perry join our Board,” commented Cary J. Claiborne, CEO of New Generation Biofuels. “His expertise in the energy industry and in the areas of project development and funding will be essential to the development and growth of New Generation Biofuels.”
“I look forward to working with New Generation Biofuels,” said Mr. Perry. “It is a forward looking company with a unique product and process for producing biofuels from renewable sources.”
Mr. Claiborne also said, “We appreciate Mr. Gilliland’s contributions as a director over the last three years and wish him well on his future endeavors.”
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 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 an emerging growth 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, 2008 and in subsequent filings with the Securities and Exchange Commission.
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SOURCE New Generation Biofuels Holdings, Inc.