New Generation Biofuels Announces First Commercial Scale Plant
15 9월 2008 - 10:00PM
PR Newswire (US)
Biofuel production facility to be located in Baltimore, Maryland
LAKE MARY, Fla., Sept. 15 /PRNewswire-FirstCall/ -- Renewable fuels
provider, New Generation Biofuels Holdings, Inc. (AMEX:GNB), today
announced the signing of a site lease and a terminaling services
agreement to locate their first commercial scale biofuel
manufacturing plant at the port location of Atlantic Terminaling in
Baltimore, Maryland. Based on current projections of sales and
timing to complete financing, New Generation Biofuels (NGB) expects
to complete construction of the first 25 million gallon per year
facility in the first quarter of 2009 and to launch production
shortly thereafter. Once completed, NGB expects the facility to
have a production capacity of up to 50 million gallons of
second-generation biofuel a year to serve potential customers in
Maryland and the mid Atlantic region. Site development work will
begin in the coming weeks. As recently announced, Chicago-based ECE
Design will design the plant. In addition to the production
facilities to be constructed by NGB, the company will lease
approximately 6 million gallons of storage tank capacity and
related terminaling facilities for up to 20 years. Atlantic
Terminaling will provide on site logistics services including the
receipt of feedstocks and shipping of finished product using rail,
barge, and truck loading and unloading facilities. "We are excited
to take another step forward in developing our first
commercial-scale manufacturing plant in Baltimore," said New
Generation Biofuels CEO & President, David A. Gillespie. "The
location at the Atlantic Terminaling site well positions us to take
advantage of the projected growth in renewable energy demand
throughout the eastern US." Established in 2006, New Generation
Biofuels produces a renewable energy product that is different from
traditional biofuels. Their second-generation biofuel is produced
using a simple proprietary blending process that combines water,
proprietary additives and vegetable oil or other feedstocks. This
process is simpler, cleaner, less expensive and less energy
intensive than traditional production methods and results in a
biofuel that has superior technical and environmental performance
at a lower cost than other first generation biofuels. "With our
ideally situated location within the port of Baltimore and our
existing storage, rail, truck and barge access infrastructure
already in place, this is an ideal fit for both New Generation
Biofuels and Atlantic Terminaling," said Alan Bock, President,
Atlantic Terminaling. "We are very excited to be working with a
company that is re-defining biofuels." 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 market as a new class of
biofuel for power generation, heavy equipment, marine use and as
heating fuel. We believe our proprietary biofuel can provide a
lower cost, 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 our Quarterly Report on
Form 10-Q for the quarter ended June 30, 2008. Media Contact: Kate
Withall or Benny Ross (713) 524-0661 or or Rob Schatz Wolfe Axelrod
Weinberger Associates, LLC 212-370-4500 DATASOURCE: New Generation
Biofuels Holdings, Inc. CONTACT: Kate Withall, , or Benny Ross, ,
both for New Generation Biofuels Holdings, Inc., +1-713-524-0661;
or Rob Schatz of Wolfe Axelrod Weinberger Associates, LLC,
+1-212-370-4500, for New Generation Biofuels Holdings, Inc.
Copyright
New Gen Biofuels (AMEX:GNB)
과거 데이터 주식 차트
부터 8월(8) 2024 으로 9월(9) 2024
New Gen Biofuels (AMEX:GNB)
과거 데이터 주식 차트
부터 9월(9) 2023 으로 9월(9) 2024