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GOVERNOR CRIST WELCOMES NEW GENERATION BIOFUELS TO FLORIDA


GOVERNOR CRIST WELCOMES NEW GENERATION BIOFUELS TO FLORIDA

~~ ~Company announces plans to expand in Florida ~ ~~

September 12, 2008

Contact:

GOVERNOR'S PRESS OFFICE
850-488-5394

TALLAHASSEE - Governor Charlie Crist today announced, along with Dave Gillespie, president and chief executive officer of New Generation Biofuels, the placement of their corporate headquarters in Lake Mary. New Generation Biofuels, an advanced biofuel technology company whose fuel is used for power generation and many other applications, plans to create at least 20 new jobs in Central Florida and be a significant participant in the Governor's renewable energy strategy.

"Florida is stepping onto the world stage as a major marketplace for advanced energy technologies," said Governor Crist. "We are excited about New Generation Biofuels establishing their headquarters in Florida, and we look forward to their being a part of Florida's renewable energy future."

New Generation Biofuels commitment to the community is to create approximately 20 new high paying professional jobs over the next two years. The Company plans to establish relationships with the local academic and business community to continue to solidify Florida's position as a renewable energy leader.

"Central Florida offers many of the things we were looking for in establishing our new headquarters," said David A. Gillespie, President and CEO for New Generation Biofuels. "An available diverse and talented workforce, proximity to educational and research institutions, access to major population centers and the markets we intend to serve, and quality of life for our employees were all important considerations. Central Florida provides all of these and more."

Partners on the project include Enterprise Florida and the Orlando Economic Development Corporation.

About Florida's Energy Future

Continuing to encourage energy companies to invest in Florida, Governor Crist signed House Bill 7135, a comprehensive energy and economic development package, in June. The legislation is aimed at reducing greenhouse gas emissions as well as encouraging investment in alternative and renewable energy technologies. The legislation will help secure Florida's energy future and encourage economic development in clean technologies by authorizing the development of a cap-and-trade regulatory program, which gives businesses flexibility in meeting greenhouse gas reduction standards; creating a renewable fuel standard and a renewable portfolio standard; and providing grants and incentives to promote and enhance the use of alternative and renewable energy technologies. In addition, House Bill 7135 creates the Florida Energy and Climate Commission, a central office for state energy and climate change programs and policies to help diversify energy sources and encourage economic development in alternative and renewable energy technologies.

About New Generation Biofuels

New Generation Biofuels is a renewable fuels provider. They hold an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from vegetable oils and animal fats that we market as a new class of biofuel for power generation, heavy equipment, marine use and as a commercial heating fuel. They believe that their 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 we may purchase or build and sublicensing our technology to qualified licensees.

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.