NewGen secures strategic partnerships

By | February 01, 2006
At the end of November, North Carolina-based NewGen Technologies Inc. announced two joint ventures with two different companies in order to further NewGen's mission to be a worldwide biofuels producer and distributor.

NewGen's joint venture with AG Global Partners Ltd. created a newly formed company equally owned by both partners, called NewGen Fuel Technologies Ltd. (NGFTL) and led by AG Global Partners CEO Alex Greystoke. NGFTL intends to be present in all aspects of the global fuel supply chain, including the production of ethanol and its distribution to wholesale and retail outlets.

NewGen's partnership with Actanol Service Ltd. resulted in the formation of a new business entity called Actanol BioEngineering LLC. The joint venture will involve virtually every technical aspect of designing, building and running NewGen's future renewable fuels plants. The Munich, Germany-based Actanol Service has years of experience developing and constructing biofuels and petrochemical refineries, and includes a workforce of 1,200 engineers and technicians. EP