NWGN NewGen Technologies Inc (CE)

NewGen Technologies, Inc. (�NewGen�) (OTCBB: NWGN) today announced its Strategic Initiatives for this year and fiscal 2008 following the 10-year agreement to supply all the biofuel requirements of Appalachian Oil Company (�APPCO�). NewGen is focused on identifying and acquiring whole or part ownership of operating businesses that provide significant and immediate opportunities for growth of blended biofuel supply and distribution under its �ReFuel America� division banner. These efforts began in 2005 and 2006 with the acquisition of three petroleum product storage terminals strategically located on the Colonial and Plantation pipelines in North Carolina, South Carolina and Georgia, and an additional South Carolina fuel terminal acquisition in 2007. These acquisitions give NewGen and ReFuel America the opportunity of directly supplying more than 800 million gallons of blended biofuel products. Revenues from NewGen�s existing terminals when fully operational, given this amount of fuel sales capacity, are estimated to be in excess of $1 billion annually. NewGen has outlined a clear, three-part strategic plan for expanding upon its initial progress with the fuel terminal acquisitions and APPCO supply agreements in the alternative energy sector: 1. Secure BioFuel Supply (ethanol and biodiesel) through strategic agreements and acquisitions that will enhance core profitability at wholesale and retail distribution, ensure the highest quality fuels, as well as maintaining environmental responsibility in the markets we serve. NewGen will be a leading supplier of biofuel products initially in Tennessee, Virginia and Kentucky with the agreement with APPCO, which is expected to close in September 2007. APPCO operates in six Southeastern States selling more than 450 million gallons of fuel products to more than 200 retail gas stations and independent wholesale dealers. James Peeples, NewGen�s Senior VP Business Development and Government Relations said, �We are committed to increasing our distribution of biofuels to include the highest quality ethanol and biodiesel blends. Our management team, strategic investors and partners are pursuing innovative supply agreements and acquisitions in the Southeast United States that will enable the company to increase access to competitively-priced biofuel products.� 2. Seek Integration Opportunities through NewGen, ReFuel America and subsidiaries to vertically-integrate and increase our leverage and position in the biofuel product chain from the �Fields to Wheels�.� NewGen�s management team, strategic partners and investors are pursuing the targeted acquisition of global and domestic natural resources to upstream into NewGen�s existing fuel distribution channels. 3. Expand Markets we serve through strategic acquisitions and organic growth in markets across the Southeastern United States. NewGen has set its sights on being a market leader in the distribution of ethanol and biodiesel blended products that are intended to dramatically reduce the environmental and economic impact of world petroleum use and produce a higher return to our shareholders. �NewGen will grow by leveraging its existing North Carolina, South Carolina and Georgia fuel terminals locations and distribution supply arrangements," said S. Bruce Wunner, Chairman and CEO of NewGen. "We will work to expand our operations with the continued focus on further distribution of fuels to the end consumer with growth in our surrounding markets in the Southeast.� About NewGen Technologies, Inc. NewGen�s mission is to be a leading global fully integrated �Fields-to-Wheels�� manufacturer and distributor of premium biofuels and petroleum blends that are intended to dramatically reduce the environmental and economic impact of world fuel consumption. NewGen believes that it has developed the highest performing fuels in the world by utilizing its technologies that allow for more complete fuel combustion and reduced emissions. 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. Additional information can be found at the company�s Web sites - www.newgenholdings.com and www.refuelamerica.com. Investor Information - To request investor information and receive company news and e-mail updates, please visit our Web site 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.