1812 Brewing Company Inc (KEGS): NextGen sold for $21.3 million. From:...

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Sunday, 09/30/2007 9:28:58 AM

Sunday, September 30, 2007 9:28:58 AM

NextGen sold for $21.3 million.
From: Watertown Daily Times (Watertown, NY) Date: November 8, 2006

Byline: Martha Ellen

Nov. 8--POTSDAM -- The sale of NextGen Fuel to a larger company should push its biodiesel process into more commercial applications more rapidly.

GS AgriFuels Corp. bought the company's stock for $21,300,000. At the closing, $17 million was paid while the remaining $4.3 million will be disbursed based on milestones set by NextGen sales.

"It's good not just for me, but for a number of the shareholders who are in the north country," said John P. Gaus, one of NextGen's founders.

NextGen's development of more economically feasible biodiesel equipment shows that success in business can come from anywhere, GS AgriFuels President Thomas W. Scozzafava said.

"It validates that the north country can innovate," he said. "You don't need to be in the metropolitan area to produce something valuable."

Mr. Scozzafava is also the chief financial officer for WiseBuys, which has stores in Gouverneur, Canton, Pulaski, Hamilton and Tupper Lake. Hacketts, which has stores in Ogdensburg, Potsdam, Canton, Massena and Watertown, expects to acquire WiseBuys by the end of the year.

Mr. Scozzafava has worked for almost a year with GS AgriFuels, a subsidiary of GreenShift Corp., a company devoted to the efficient use of natural resources.

The advantage of NextGen's process equipment is that its smaller size makes it less expensive to build and operate than its competition, so north country communities interested in biodiesel facilities should take a look, Mr. Scozzafava said.

"Our sales force will try to convince them of that," he said.

NextGen opened a plant in Oswego in 2005, but GS AgriFuels has the ability to accelerate the company's growth.

Using technology that was developed at Clarkson University, NextGen was started as part of Mr. Gaus's Golden Technology Management, which founds and invests in ventures related to energy and the environment. Some of Golden Technology's companies have shut down but they still churned money through the north country and provided a learning curve for others, Mr. Gaus said.

One of Golden Technology's up-and-coming ventures is ZeroPoint Clean Tech, which has five full-time employees in Potsdam.

The proprietary technology behind ZeroPoint Clean Tech converts many forms of biomass into various energy forms and clean water. It can help bring sustainable forms of electricity, fuel and water purification systems.

"It's very exciting," Mr. Gaus said.

To see more of the Watertown Daily Times, or to subscribe to the newspaper, go to http://www.wdt.net.

Copyright (c) 2006, Watertown Daily Times, N.Y.

Distributed by McClatchy-Tribune Business

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