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New Green Technologies Reaches Agreement for Licensing Low Hydro Technology for Natural Gas Field Use

^{Published on 2008-12-10 11:12:04 - Market Wire}
 

TAMPA, Fla.--([ BUSINESS WIRE ])--New Green Technologies, Inc. (OTCBB:NGRN), announces that it has entered into an agreement to license its low hydro technology for potential use with natural gas wells throughout North America. The license will keep NGRN's revenue share in the technology, and control of its uses. The technology, which was originally derived for use with air and gas substances looks to be built for prove out and commercial use for creation of electricity in the large pressure natural gas wells. The use of the Energy Commander technology is expected to reduce the amount of Carbon Dioxide released from well operations, and provide efficient electricity for well use. The technology, which uses small amounts of pressure to create electricity from water flow, can use the massive amounts of gas pressure available to supply all needs for natural gas well operations on site.

NGRN's clean energy power system, the Energy Commander, is a patented technology, utilizing waste water, fluid or gas flow from any source where flow pressure is present, and yet wasted, to create electricity. While NGRN concentrates its efforts on its other waste to energy technologies, the Energy Commander will be developed through third parties to use its ability to take in the wasted pressure flows of gas wells to create electricity for use at the wells, to power filters and to create power needed at the well sites, including pumps. The Energy Commander was originally designed for use with air systems, so its adaptability for use with large pressures available from gas wells is expected to be technologically an easy fit. Any fluid, including gas goes through the heart of the patented Energy Commander system, into a positive displacement set of cylinders that creates massive mechanical forces, all of which is transferred to a generator creating both electricity, and optional air pressure, both being for direct use or storage. The gas then moves out of the unit, to its original destination pipeline, through the use of available reintroduction technologies. With tens of thousands of natural gas well heads in production in North America, the potential for use of the Energy Commander is considered to be substantial.

NGRN's management has chosen to concentrate on its efforts with its Catalytic Activated Vacuum Distillation (CAVD) system for waste to oil and gas production, and has advised its EU partner, Cm2 of Italy, that all agreements are henceforth cancelled due to their non-performance with the technology for hydro use.

About New Green Technologies, Inc.

New Green Technologies, Inc. (OTCBB:NGRN) is currently focused on using its newly acquired technology to move forward in the bio-fuel and waste flow industries. With revolutionary technology, the Company can now make significant impact in the newly emerging bio-fuel and other waste industries. New Green Technologies' primary technology is the Catalytic Activated Vacuum Distillation (CAVD) system which is an exclusively patented technology which allows waste products, such as DDG, carpet waste, algae, citrus waste, tobacco waste, municipal waste, and others, to be converted into a bio-fuel and gas. The Company has also acquired a plasma arc to energy technology along with a patented technology using waste water, fluid or gas flows to create electricity. NGRN's unique hydro and gas technology is being licensed to other parties for development.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statement of NGRN officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future NGRN actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and NGRN has no specific intention to update these statements.