NewGen Announces Completion of Definitive Long-Term Biofuels Supply Agreement with Titan and APPCO

NewGen Technologies, Inc. ("NewGen”) (OTCBB: NWGN) announced today that it and Titan Global Holdings, Inc. ("Titan”) completed a definitive Biofuels Supply Agreement which will become effective upon Titan’s acquisition of Appalachian Oil Company ("APPCO”), the closing of which is scheduled to occur on September 12, 2007. Under the agreement with Titan, NewGen’s wholly owned subsidiary, ReFuel America, Inc. ("ReFuel”), will become the exclusive supplier of biofuels including renewable and environmentally friendly ethanol and biodiesel products for APPCO. The term of agreement is for a period of 10 years giving NewGen the exclusive right to supply biofuel products to APPCO at the prevailing market price for such biofuel products at the time an order is placed. It is estimated that APPCO’s requirements for biofuels will be substantial and will grow as the company grows as well. APPCO (www.goappco.com), formed in 1923 and based in Blountville, Tennessee, is a privately held petroleum company that owns and operates an extensive fuel distribution network. APPCO distributes petroleum products to more than 160 dealers in the southeastern United States and owns and operates 56 convenient store locations. APPCO has more than 550 employees and maintains long-standing partnerships with strategic fuel terminal operators and major oil companies. S. Bruce Wunner, Chairman and CEO of NewGen stated, "APPCO's diverse wholesale and retail fuel outlets and exceptional 84-year history provides NewGen and ReFuel with an ideal platform for long-term biofuel supply and further expansion of our biofuel distribution opportunities. Given APPCO’s current distribution of over 225 million gallons of fuel products per year, our initial expected ethanol supply to APPCO should exceed 1 million gallons a month and increase as they provide bio-blends to additional locations and customers.” James Peeples, SVP Business Development and Government Relations with NewGen and President of NewGen’s Biofuels division added, "It is fantastic to see the distribution and use of ethanol and biodiesel blends expanding in Tennessee, neighboring states, and across the Southeast instead of just the Midwest. APPCO’s forward thinking enables NewGen to launch its biofuels supply and distribution network across the region with a reliable partner, allowing fuel marketers to meet their ‘renewable fuel standard’ (RFS) obligations as of September 1, and providing regulated federal and state vehicle fleets to conform to the alternative fuel vehicle refueling requirements under the Energy Policy Act. Our agreement with APPCO is a needed platform for NewGen’s aggressive Field to the Wheels™ biofuels program which will be evident over the next several years.” "The access to these additional sources of biofuels will help us lead APPCO’s markets in the distribution of such products,” said David Marks, Chairman of Titan Global Holdings. "Titan's initiatives in the energy sector are consistent with Titan's unwavering commitment to the creation of shareholder value. This agreement leverages our financial and management strength with the biofuel know-how of NewGen.” About NewGen Technologies, Inc. NewGen’s strategic business plan will enable the Company and its subsidiaries to become a leading global fully integrated Fields-to-Wheels™ manufacturer, blender, supplier, and distributor of premium biofuels and petroleum blends that dramatically reduce the environmental and economic impacts of world transportation fuel consumption. NewGen believes it has developed a slate of high-quality fuel products by utilizing technologies that allow for more complete fuel combustion and reduced emissions and the means to deliver them to the customer at the best possible price. The vision of NewGen and ReFuel America, NewGen’s wholly-owned U.S. distribution subsidiary, is a world less dependent on petroleum-based fuels, using secure, renewable, 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 Web sites: www.newgenholdings.com & www.refuelamerica.com Investor Information -- To request investor information and receive Company news and e-mail updates, 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 rate and unanticipated events such as terrorist activities. 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