Costa Rica to test New Generation biofuel

By Susanne Retka Schill | June 09, 2009
Posted June 23, 2009

New Generation Biofuels Holdings Inc. has signed a letter of intent with Instituto Costarricense de Electricidad (ICE), an autonomous institution of the government of Costa Rica. ICE will evaluate the potential for licensing New Generation's technology and building a facility in Costa Rica to manufacture fuel for electrical generation.

"We look forward to working with ICE to explore this opportunity to provide Costa Rica with an environmentally sound fuel, based on locally produced feedstock, which should mitigate the need to use Costa Rica's foreign exchange earnings to purchase imported fuel oil," said New Generation Biofuels CEO Cary Claiborne. "In addition to the expected revenue contribution for New Generation Biofuels, the successful implementation of the ICE project using our technology will provide us with an additional platform to market our biofuel technology in the U.S. and abroad."

NGBF will supply ICE with biofuel produced in its production facility located in Baltimore, Md., for the testing program. An additional evaluation will be conducted to assess the availability within Costa Rica of palm oil, jatropha, or animal fats suitable for use as feedstock to produce biofuel. New Generation's proprietary emulsification technology uses oil feedstocks to produce a biofuel. The company has been targeting power generation, commercial and industrial heating and marine use for its initial markets.
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