NWGN NewGen Technologies Inc (CE)

NewGen Technologies, Inc. (�NewGen�) (OTCBB: NWGN) today applauded the bold and far-reaching energy policy proposals set forth in President George Bush�s State of the Union address which called for the use of 35 billion gallons of biofuels within ten years. This is the highest target of biofuels usage ever proposed in the United States. In 2006, an estimated 5.5 billion gallons of biofuels (ethanol and biodiesel) was blended with gasoline and diesel sold in the United States. Industry experts estimate that an additional six billion gallons of ethanol fuel capacity is being constructed and expected to be open by the end of 2008. In addition, in excess of one billion gallons of biodiesel production capacity is currently under construction. The President�s proposal, with substantial bipartisan support in Congress, should help to more than triple existing capacity in less than a decade. �The key to achieving this clear national goal is the efficient production, distribution, and marketing of these fuels. This is a complex set of tasks well-suited to the expertise and strategy of NewGen,� said James Peeples, Senior Vice President � Business Development & Government Relations. �Our company is combining each of these critical elements to become an industry leader in providing customers with premium quality, clean-burning, domestically-produced and renewable fuels available at a low cost.� �Our planned acquisition of Appalachian Oil Company, with over 200 wholesale and retail outlets, millions of gallons of blended fuel sales and over $400 million in annual revenues in Tennessee, Kentucky, Virginia, West Virginia and North Carolina will help facilitate our corporate objectives more quickly and efficiently,� stated James Peeples �The acquisition, planned to be completed in the first quarter, will serve as a platform from which the company expects to expand sales of biodiesel blends and ethanol-blended gasoline including E85 (an 85% ethanol and gasoline blend) as an alternative fuel for use in hundreds of thousands of ethanol �flexible fuel vehicles� (FFVs) operating in those states�. Last year, NewGen�s U.S. subsidiary ReFuel America acquired three petroleum fuel storage, blending and distribution terminals along key pipelines in growing southeastern markets in Charlotte, North Carolina, Spartanburg, South Carolina, and south of Atlanta in Columbus, Georgia. These strategic terminals will enable the most efficient supply and distribution logistics for the company�s premium blended products. NewGen also expects to produce its own premium biofuels as well as other clean-burning motor fuels, while continuing to expand its supply and distribution network worldwide. �It is essential for the success of the energy policy proposal that the supply stream also meets the demands of the market,� Peeples noted �Consumers will buy and benefit from these 21st century fuels if they are of the highest quality, accessible at local gas stations and competitively-priced. NewGen intends to do its part to make this happen quickly.� About NewGen Technologies, Inc. NewGen�s mission is to be a leading global vertically integrated manufacturer and distributor of premium biofuels and hydrocarbon blends that are intended to dramatically reduce the environmental and economic impact of world petroleum use. NewGen believes that it has developed the cleanest burning and highest performing fuels in the world by utilizing its own technology that allows for more complete combustion. The vision of NewGen and ReFuel America, NewGen�s wholly-owned U.S. subsidiary, is a world less dependent on oil, using secure, renewable, homegrown fuels which better preserve our most important resources � the air we breathe and water we drink. From the Fields-to-the-Wheels NewGen creates � Better Fuels for a Better World Additional information can be found at the company�s websites - www.newgenholdings.com & www.refuelamerica.com & www.actanolbio.com & www.ip-fischer.de & www.newgenasia.com.sg & www.goappco.com Investor Information -- To request investor information and receive company news and email updates, please visit our website at: http://www.b2i.us/irpass.asp?BzID=1316&to=ea&s=0 Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of NWGN could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company�s operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as �may,� �will,� �should,� �expect,� �plan,� �anticipate,� �believe,� �estimate,� �predict,� �potential� or �continue,� the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.