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NWGN NewGen Announces Formation of International Joint Venture to Drive Global Expansion

CHARLOTTE, NC -- (MARKET WIRE) -- 11/29/2005 -- NewGen Technologies, Inc. (OTC BB: NWGN) today announced the formation of its first international joint venture with AG Global Partners, Ltd., a provider of international biofuel and alternative energy solutions. Alex Greystoke and Geoff Dawson of AG Global Partners will be responsible for assembling a team to emulate the NewGen and ReFuel America model of being a completely integrated supplier of performance fuels and biofuels. The joint venture company, owned equally by NewGen and AG Global Partners, will be involved in all steps of the fuel supply chain internationally -- from the manufacture of biofuels through to the supply and distribution of fuels to wholesale and retail networks, including to commercial fleets and retail gas stations.

The new joint venture company, NewGen Fuel Technologies, Ltd., will be run by Alex Greystoke, CEO of AG Global Partners. Current directors of NewGen Technologies, Ian Williamson, Cliff Hazel and John King, will sit on the board of the company and provide technical support for all aspects of the venture. The operation will offer performance fuels, biofuels and green energy solutions to governments, businesses, and other industry players in various global markets including Europe, the Middle East, Southeast Asia, and Australia.

AG Global Partners has already identified significant opportunities in various parts of the world for the company to provide green energy solutions for governments, utilities, industry and transportation.

S. Bruce Wunner, Chairman and CEO of NewGen Technologies, stated, "This new joint venture will help NewGen continue its expansion internationally into global green energy and biofuel projects. By teaming with AG Global Partners, we will be able to expand our technologies to new fuel and production opportunities. This transaction is yet another example of leveraging NewGen's capabilities with appropriate strategic partners to speed our market entry at minimal cost."

Alex Greystoke, CEO of NewGen Fuel Technologies, added, "We are delighted to be working with an internationally-focused, vertically-integrated biofuels company that understands the importance of providing global green energy solutions now. We are already working with governments and companies around the world to find solutions to the environmental and economic problems caused by fossil fuel use, and our joint venture with NewGen will allow us to significantly improve and accelerate these efforts. Together we will be able to offer complete solutions, encompassing secure feedstock supply, world-class biofuel plant engineering and design, proprietary and proven fuel technologies, and an unmatched team of individuals in this emerging industry."

Alex Greystoke

Alex Greystoke is a dual qualified lawyer, admitted to practice in the State of Texas and in England, who has significant experience as both a corporate and litigation attorney. He has worked at major U.S. and international law firms including Slaughter & May and Morgan Lewis. Most recently, Mr. Greystoke established a successful international private and public corporate finance business, covering the U.K. and much of the rest of the world.

Geoff Dawson

Geoff Dawson is a native of the U.K. with over 35 years of experience in managing multi-million dollar international real estate investments, land development, and commercial business ventures. He is currently Vice President, Europe & the Middle East, for the Meneren Corporation, an internationally-focused project development firm recognized as a leader in the planning, funding, and development of large international infrastructure projects. Mr. Dawson is also a former director of some of the U.K.'s most prominent property management companies. His experience in dealing with governments and financial institutions, coupled with his organizational abilities and range of contacts particularly in the political and diplomatic fields, attracted the attention of the European Commission and other similar organizations, resulting in invitations to oversee several international trade projects.

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 website www.nwgntech.com.

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 and PRL 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 rate 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.


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