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NWGN - NewGen Subsidiary ACTANOL Acquires IPF Group With Over $30 Million in Annual Revenue
Tuesday September 5, 5:12 pm ET


Current IPF Clients Include Audi, BASF, BMW, Corning, DaimlerChrysler, GM And Volkswagen; Acquisition Brings Significant International Experience, Credibility, Quality Assurance and Revenue


CHARLOTTE, NC--(MARKET WIRE)--Sep 5, 2006 -- NewGen Technologies, Inc. ("NewGen") (OTC BB:NWGN.OB - News) today announced that its ACTANOL BioEngineering Inc. subsidiary has acquired 98.8% of Germany-based IPF Germany Gmbh ("IPF") and its international subsidiaries in the United States, Poland and India. ACTANOL BioEngineering paid approximately US$650,000 in cash and approximately 3% of its outstanding shares to acquire its interest in IPF.


ACTANOL BioEngineering was formed as a joint venture between NewGen Technologies and ACTANOL Service Ltd., a provider of alternative energy and biofuel plant solutions, to oversee the design, engineering, construction, operations, safety and technology support for biodiesel and other biofuel manufacturing plants worldwide. ACTANOL Service Ltd. is based in Munich, Germany and has vast experience designing and operating various types of manufacturing plants and related infrastructure in the biofuel, pharmaceutical and petrochemical industries. NewGen owns 60% of ACTANOL BioEngineering Inc.

IPF is a name synonymous with premiere quality engineering, project management, logistical support and coordination. The company has been involved in more than 700 projects in over 20 countries during the past 30 years. IPF has a highly skilled force of 45 engineers with experience in all levels of project management, factory design, engineering and logistics coordination. Some of the current IPF clients include Audi, BASF, BMW, Corning, DaimlerChrysler, Dynamit Nobel, General Motors, Hyundai and Volkswagen. In 2005, the group posted total revenue in excess of $30 million.

"We are excited to bring this vast engineering resource in house, complementing our existing know-how and increasing the build efficiencies for our biofuel projects," stated Dr. Carsten Witt, President of ACTANOL BioEngineering Inc. "IPF is a great addition to ACTANOL BioEngineering and to NewGen."

"IPF brings enormous engineering expertise and quality. As a result, we are now well positioned to build some of the best biofuel facilities in the world," added S. Bruce Wunner, CEO of NewGen. "NewGen, while continuing to make progress towards activating its U.S. fuel terminals, will immediately benefit from IPF's knowledge, expertise and relationships. Working together, we are very optimistic about the future."

About IPF

Since its foundation in the early 1970s, The IPF Group, headquartered in Friedrichsdorf/Taunus, Germany has become a significant force in the engineering world. The company is a leading enterprise in engineering, planning, and manufacturing design, having completed hundreds of projects for national and international businesses and organizations.

Additional information can be found at www.ip-fischer.de

About NewGen Technologies, Inc.

NewGen's mission is to be a leading manufacturer, processor and distributor of premium biofuels that are intended to dramatically reduce the ecological and economic impact of world petroleum use. NewGen believes that it has developed the cleanest burning and highest performing fuels in the world by utilizing technology that allows for more complete combustion, which NewGen believes will result in improved miles per gallon and significantly decreased harmful emissions, including reduced carbon monoxide, carbon dioxide, nitrous oxides, particulates and black smoke. The company's fuel products include proprietary and complex technology, substantially and predominantly derived from petroleum sources, which are intended to improve the performance of gasoline and diesel fuels, as well as domestically-produced and environmentally-friendly alternative fuels such as Ethanol-based E85 and Biodiesel-based B20. The vision of NewGen and ReFuel America, NewGen's wholly owned U.S. subsidiary, is a world less dependent on oil, using secure, 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, and www.actanolbio.com

Investor Information -- To request investor information and attend online corporate meetings, please visit our website 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 rates 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.



Contact:
NewGen Technologies, Inc.
6000 Fairview Road, 12th Floor
Charlotte, NC 28210
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http://www.newgenholdings.com

Media Contact:
Blois Olson
New School Communications, Inc.
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[e-mail]

Investor Contact:
Chris Witty & Jody Burfening
Lippert/Heilshorn & Associates, Inc.
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Source: NewGen Technologies, Inc.