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NewGen Announces Agreement with Granite Group for Development of ''ReFuel America'' Retail Gas Stations and Convenience Stores in Charlotte

“This relationship with Granite Group is exciting as it gives us the ability to immediately begin the development and rollout of our ‘ReFuel America’ branded locations,” said NewGen Chairman and CEO Bruce Wunner. “This agreement will provide us with the capital and expertise to develop an innovative, renewable fuel-focused concept location with an initial launch targeted for the Charlotte market.”

“Granite will assist with the acquisition and development of attractive real estate in prime locations for our next generation retail branded outlets.” Wunner added. “Launching the ReFuel America brand in these locations gives us a unique opportunity to supply our own biofuel (ethanol and biodiesel) products to consumers, blended at and distributed from our own local fuel terminals. As with our previous announcements on the production and supply of biofuels by NewGen Biofuels to APPCO and other customers, our ReFuel America locations further completes our ‘Fields-to-Wheels™’ supply chain, delivering competitively-priced premium blended biofuels to the market.”

Mark Barati, Chairman and CEO from Granite says, “We are excited and committed to the development of these new locations that will deliver a new, clean-fuel design and some excellent locations in the expanding Charlotte market. We feel that NewGen and ReFuel America are the best possible partners for this kind of project, given their experienced management team and ability to supply their own fuels to these locations which with further enhance their profitability and ensure quality. The Carolinas market, as well as the Southeast, is integral to Granite’s development strategy and growth potential as well.”

ReFuel America and Granite Group plan to unveil the prototype concept and first selected locations in the coming months.

About Granite Group Chicago, LLC

Granite Group Chicago, LLC, is a national real estate development company headquartered in Schaumburg, Illinois. Mark J. Barati, as Chairman and CEO, leads a talented team of professionals while overseeing his parent company’s numerous subsidiaries within the commercial and residential construction, development, realty, restaurant, retail and management arenas. Granite Group is opening a new office in Charlotte, Granite Development Solutions, LLC, to service the expanding needs in the Carolina and Southeast markets.

After a decade in the financial services industry, Barati sought new ways to diversify the portfolios of his companies, resulting in a portfolio consisting of commercial properties worth an estimated $100+ million. The success of these early ventures helped Barati realize his true passion – the world of real estate development.

Granite’s core business is Build-to-Suit, Sale Leaseback, Land Entitlement, and other Real Estate Investment and/or Development opportunities.

About NewGen Technologies, Inc.:NWGN

NewGen’s strategic business plan is designed to enable the company and its subsidiaries to become a leading global fully integrated “Fields-to-Wheels™” manufacturer, blender, supplier, and distributor of premium biofuels and petroleum blends that will dramatically reduce the environmental and economic impacts of world transportation fuel consumption. NewGen believes that it has developed a slate of high-quality fuel products by utilizing technologies that allow for more complete fuel combustion and reduced emissions and the means to deliver them to the customer at the best possible price.

The vision of NewGen and ReFuel America, NewGen’s wholly-owned U.S. distribution subsidiary, is a world less dependent on petroleum-based transportation fuels, using secure, renewable, 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 Websites - www.newgenholdings.com & www.refuelamerica.com

Investor Information -- To request investor information and receive company news and e-mail updates, please visit our Web site at: http://www.b2i.us/irpass.asp?BzID=1316&to=ea&s=0

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 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.