Florida, United States [RenewableEnergyWorld.com] New Generation Biofuels Holdings Inc., a development stage renewable fuels provider, announced the signing of a Memorandum of Understanding (MOU) with First Florida Biofuels LLC (FFB) to pursue development of potential biofuel projects in Florida.
Under the MOU, New Generation Biofuels will provide technology and know-how for the development of a potential joint venture, with the purpose of exploring and pursuing biofuel projects in Florida. FFB will provide its marketing services and will arrange financing for the projects. New Generation Biofuels’ second-generation biofuel is produced using a proprietary blending process that combines water, additives and vegetable oil or other feedstocks.
“We are excited to be working with First Florida Biofuels,” said David Gillespie New Generation Biofuels’ CEO and president. “The unique expertise they provide on the Florida market landscape gives us a leg up as we continue to roll out our business in Florida. The FFB team brings financial expertise as well, with potential access to funding opportunities. Cultivating partnerships with key players in the biofuel industry and expanding production through licensing agreements is a key component of our strategy to build the market for our biofuel.”