[LOGO OF NewGen Technologies, Inc.]
NewGen Technologies, Inc.
6000 Fairview Road, 12th Floor
Charlotte, NC 28210
(704) 552-3590
www.nwgntech.com
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Media Contact: Investor Contact:
Blois Olson Jody Burfening / Chris Witty
New School Communications, Inc. Lippert/Heilshorn & Associates, Inc.
(651) 221-1999 (212) 201-6609
b.olson@new-school.com cwitty@lhai.com
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FOR IMMEDIATE RELEASE
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NewGen Announces Joint Venture with PowerSHIFT for Biodiesel Production
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CHARLOTTE, NC, November 8, 2005 - NewGen Technologies, Inc. (OTCBB: NWGN) today
announced that its wholly-owned subsidiary, ReFuel America, has formed a joint
venture with PowerSHIFT Energy Company, Inc., a provider of alternative energy
solutions, to build biodiesel plants and power generation facilities in the
United States. The joint venture, PowerSHIFT Biofuels, LLC, is equally owned by
NewGen and PowerSHIFT Energy. Dan Leach, CEO of PowerSHIFT Energy, will also be
the CEO of the new joint venture.
PowerSHIFT Biofuels has already identified several potential opportunities in
California, Hawaii, and Iowa to provide biodiesel and complete green energy
solutions for utilities, industry and transportation. The first of these
projects could potentially be operational by the fourth quarter of 2006, and all
identified plants combined would produce in excess of 140 million gallons of
biodiesel. Additional sites are currently being explored in the Midwest and
Rocky Mountain states.
S. Bruce Wunner, Chairman and CEO of NewGen Technologies, stated, "This joint
venture shows the tremendous demand for biofuels and various types of renewable
energy projects in this country. By teaming with PowerSHIFT, we will be able to
bring our technologies to new biodiesel and blended applications, including
power production opportunities. This JV is another example of leveraging
NewGen's capabilities with appropriate strategic partners to speed our market
entry at minimal cost."
Dan Leach, CEO of PowerSHIFT Biofuels, LLC added, "We are pleased to work with a
vertically integrated company that will, without a doubt, become a world leader
in the production and distribution of premium quality biofuels. By this time
next year, we see our facilities providing millions of gallons of needed
biodiesel and alternative energy to customers now clamoring for secure,
cost-effective environmental solutions."
About NewGen Technologies, Inc.
NewGen's mission is to be a leading manufacturer, processor and distributor of
premium biofuels that are intended to dramatically reduce the ecological 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
technology that allows for more complete combustion, which NewGen believes will
result in improved miles per gallon and significantly decreased harmful
emissions, including reduced carbon
monoxide, carbon dioxide, nitrous oxides, particulates and black smoke. The
company's fuel products include proprietary and complex technology,
substantially and predominantly derived from petroleum sources, which are
intended to improve the performance of gasoline and diesel fuels, as well as
domestically-produced and environmentally-friendly alternative fuels such as
Ethanol-based E85 and Biodiesel-based B20. The vision of NewGen and ReFuel
America, NewGen's wholly-owned U.S. subsidiary, is a world less dependent on
oil, using secure, 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 website www.nwgntech.com.
About PowerSHIFT Energy Company, Inc.
PowerSHIFT Energy Company, Inc., a wholly-owned subsidiary of HTH Wind Energy,
Inc., is a biofuels producer and developer of biofuel and renewable power
generation facilities in the Midwest and Front Range of the Rocky Mountains. The
company's biofuels are obtained from renewable feedstock sources throughout the
world. PowerSHIFT views the biofuels industry as being a boon to the U.S.
agricultural community, and the company is proud to support these endeavors in
reducing U.S. dependency on foreign oil sources. The goal of PowerSHIFT is to
produce clean burning biofuels for the transportation sector, as well to
generate pollution-reducing electrical power.
Additional information can be found at the company's website
www.powershiftenergy.com
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 and PRL 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.