Originally published October 15 2005
Biofuel companies enter into joint venture for biodiesel manufacturing
by Mike Adams, the Health Ranger, NaturalNews Editor
ReFuel America Inc., has signed an agreement with Advanced Biotechnology, Inc. to form a joint venture to build and operate biodiesel plants, called Advanced Biotechnologies, LLC, and Genetic Engineering News reports the company's aim is to make a product that will increase vehicles' operating efficiency while reducing carbon monoxide, particulates and nitrous oxide byproducts.
NewGen Technologies, Inc. (OTCBB: NWGN) today announced that its wholly-owned US subsidiary, ReFuel America Inc., has signed an agreement with Advanced Biotechnology, Inc. to form a joint venture to build and operate biodiesel plants in the Southeast - with the first facility to be based in Sandersville, Georgia.
The new company will be named Advanced Biotechnologies, LLC and managed by Gordon Harper, CEO of Advanced Biotechnology, Inc.
"We know the management of Advanced Biotechnology well and trust them to bring our plants online," Mr. Wunner continued.
"We expect the first facility to have a capacity to produce 60 million gallons of biodiesel per year and to be up and running by the fourth quarter of 2006 - at which point it will be the largest plant of its kind in the U.S. We look forward to working with Advanced Biotechnology to make this a reality."
NewGen's proposed fuel products include proprietary and complex technology, substantially and predominantly derived from petroleum sources, which improves the performance of gasoline and premium diesel fuel, as well as domestically-produced and environmentally-friendly alternative fuels such as Ethanol-based E85 and Biodiesel-based B20.
This is designed to result in improved miles per gallon and decreased production of carbon monoxide, carbon dioxide, nitrous oxides, particulates and black smoke.
The vision of NewGen and ReFuel America, NewGen's wholly-owned US subsidiary, is an America less dependent on imported oil, using fuels which better preserve our most important resources - the air we breathe and water we drink.
ABI is committed to providing clean alternative energy to reduce air pollution and the effects of global warming.
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.
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