Bioenergy

NewGen Announces Biodiesel Project Launch in Iowa

NewGen Technologies, through its U.S. subsidiary, ReFuel America, announced plans to build a biodiesel plant in Fairfield, Iowa, with an estimated capacity of 60 million gallons. It will be developed by the company’s previously announced joint venture with PowerSHIFT Energy and be called PowerSHIFT BioFuels of Iowa.

“The demand for biofuels has grown dramatically in recent years, and ReFuel America is perfectly positioned to meet this important need,” said S. Bruce Wunner, Chairman and CEO of NewGen. “Working with PowerSHIFT, we have the opportunity to bring our proprietary technologies to the people of Iowa and the rest of the Midwest. We look forward to producing, blending, and distributing our advanced, high-performing biofuels in the near future,” Wunner said. Dan Leach, President and CEO of PowerSHIFT Energy Company and CEO of PowerSHIFT BioFuels of Iowa, said, “We owe a debt of gratitude to Bob Phipps, Mayor Ed Malloy and many others in the Fairfield area who have paved the way for our company’s biofuel project.” The project’s completion will be subject to obtaining adequate financing and governmental permits and licenses.