New Generation Biofuels, Inc. (NGBF) Signs Letter of Intent With Ace Biofuels
New Generation Biofuels, Inc. holds an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from plant oils and animal fats. The company then markets these products as a new class of biofuels for power generation, commercial and industrial heating, etc. The company today announced that it has signed a letter of intent with Ace Biofuels of San Juan, Puerto Rico. Under this letter of intent, Ace Biofuels would license product formulations, manufacturing technology and know-how from New Generation with the intent of constructing a biofuel manufacturing facility and marketing the…