New Generation Biofuels Teams With DD&J, LLC. To Drive Sales Growth
COLUMBIA, Md., May 18 /PRNewswire-FirstCall/ -- Renewable fuels provider New Generation Biofuels Holdings, Inc. (Nasdaq: NGBF) ("NGBF" or the "Company") today announced that it has signed a sales and marketing agent contract with DD&J, LLC. (DD&J) a fuels and energy management company headquartered in Columbia, Maryland.
"DD&J's existing customer base, contacts and reach on the East Coast are a great fit for New Generation Biofuels, especially with our first production plant in Baltimore, Maryland," said Cary J. Claiborne – President and CEO of NGBF. "DD&J is helping us identify and pursue prospective customers from many different industries. This contract and relationship will be a significant resource for the growth of our Company's sales and recognition."
Cordell Martin, President of DD&J stated, "We are extremely excited about the opportunity to work with New Generation Biofuels. NGBF's renewable biofuel represents the cutting edge alternative to fossil fuels our customer base is looking for. Some of the prime targets are federal, local and state government office buildings, schools, universities and colleges, manufacturers and concrete and asphalt producers. DD&J's demographics span from Virginia to Maine. Most of the cities, municipalities and companies located in these states rely on traditional fuel oil as energy for their commercial boilers. Many want to reduce their carbon footprint but the cost of infrastructure modifications often make this prohibitive. NGBF's biofuel provides a 100% replacement for these traditional fossil fuels allowing the customer to continue to use their existing equipment and storage tanks. We are targeting growth in our annualized sales of NGBF biofuel in the range of 10-15 million gallons over the next 12-15 months in just the Mid-Atlantic region alone. We believe our relationship with New Generation Biofuels positions us to help our customers who want a cost-effective renewable energy solution. We believe this is a win, win for everyone."
About New Generation Biofuels Holdings, Inc.
New Generation Biofuels is a renewable fuels provider. New Generation Biofuels holds an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from plant oils and animal fats that it markets as a new class of biofuel for power generation, commercial and industrial heating and marine use. The Company believes that its proprietary biofuel can provide a lower cost, renewable alternative energy source with significantly lower emissions than traditional fuels. New Generation Biofuels' business model calls for establishing direct sales from manufacturing plants that it may purchase or build and sublicensing its technology to qualified licensees.
About DD&J, LLC.
DD&J, LLC. is a full service energy management company formed in 2006. DD&J's strength is designing cost effective solutions for the purchase of traditional fuel, electricity and alternative energy. They strongly advocate and push for clean energy alternatives.
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 the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and in subsequent filings with the Securities and Exchange Commission.
Media Contact: Bryan McPhee ph: (410) 652-1159 |
IR Contact: Rob Schatz ph: (212) 370-4500 |
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SOURCE New Generation Biofuels Holdings, Inc.
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