Business & Finance
Business and Finance
Business and Finance 
Wed, December 24, 2008
Tue, December 23, 2008
New Green Technologies Receives Ownership in Global Gas Technologies, LLC for Sale of Gas Energy Unit
TAMPA, Fla.--([ BUSINESS WIRE ])--New Green Technologies, Inc., (OTCBB:NGRN) announced that it has entered into an agreement with Global Gas Technologies, LLC (GGT) of Phoenix, Arizona, where it has assigned the rights for marketing, production and sale, of NGRN's Energy Commander technology to be used to make electrical power from gas well field and pipeline uses. In exchange, NGRN received 30% ownership of the LLC, and will receive revenues derived from the use of the system. GGT has entered into an agreement with other parties to enter the technology into bids and proposals for gas field electrical production. The agreement provides for technical support, but no funding necessary from NGRN for the development, sale or marketing of the energy units by GGT.
"The Energy Commander technology has shown that it worked with other flows of pressure, including air, to create large amounts of energy from the pressure, using non-turbine systems," stated Jon Williams, President of GGT. "When the gas related entities came to know what the Energy Commander could provide, the development of a model for well head use, or for pipelines was a simple solution," continued Williams.
Under the agreement, NGRN provides access to its technology, with NGRN having patent rights on all improvements from the technology. With over 400,000 well heads in the United States, the use of the Energy Commander would alleviate the need for fossil fuel generating pumps. The system, when used for natural gas, will be called the GT3 Energy Generator (GT3), for replacing gas generated Glycol pumps used by many Gas Utility Companies with electric glycol pumps. GGT and NGRN expect the development will be speeded up due to early versions of the technology which were utilizing gas pressure to make power through the use of the cylinder driven technology.
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. New Green'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 statements 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.