New Generation Biofuels Set to Join Russell Microcap Index
June 24 2008 - 9:30AM
PR Newswire (US)
HOUSTON, June 24 /PRNewswire-FirstCall/ -- New Generation Biofuels
Holdings, Inc. (AMEX:GNB), a renewable fuels provider which just
listed on the American Stock Exchange (AMEX) in mid-April, will
join the Russell Microcap Index when Russell Investments
reconstitutes its family of U.S. indexes on Friday, June 27th,
after the market closes, according to a preliminary list of
additions posted Friday on http://www.russell.com/. Membership in
the Russell Microcap Index, which remains in place for one year,
means automatic inclusion in the appropriate growth and value style
indexes. Russell determines membership for its equity indexes
primarily by objective, market-capitalization rankings and style
attributes. "We are extremely pleased to have been selected to the
Russell Index," said Cary J. Claiborne, Chief Financial Officer.
"Inclusion increases our visibility to a broader investment
community." Russell indexes are widely used by investment managers
and institutional investors for index funds and as benchmarks for
both passive and active investment strategies. An industry-leading
$4.4 trillion in assets currently are benchmarked to them. Annual
reconstitution of Russell indexes captures the 4,000 largest U.S.
stocks as of the end of May, ranking them by total market
capitalization to create the Russell 3000 Index and Russell
Microcap. These investment tools originated from Russell's
multi-manager investment business in the early 1980s when the
company saw the need for a more objective, market-driven set of
benchmarks in order to evaluate outside investment managers. Total
returns data for the Russell Microcap and other Russell Indexes is
available at
http://www.russell.com/Indexes/performance/daily_total_returns_us.asp.
About New Generation Biofuels Holdings, Inc. New Generation
Biofuels is a renewable fuels provider. We hold an exclusive
license for North America, Central America and the Caribbean to
commercialize proprietary technology to manufacture alternative
biofuels from vegetable oils and animal fats that we intend to
market as a new class of biofuel for power generation, heavy
equipment, marine use and as heating fuel. We believe our
proprietary biofuel can provide a cheaper, renewable alternative
energy source with significantly lower emissions than traditional
fuels. Our business model calls for establishing direct sales from
manufacturing plants that we may purchase or build and sublicensing
our technology to qualified licensees. About Russell Russell
Investments aims to improve financial security for people by
providing strategic advice, world-class implementation,
state-of-the-art performance benchmarks, and a range of
institutional-quality investment products. With more than $213
billion in assets under management, Russell serves individual,
institutional and advisor clients in more than 40 countries.
Russell provides access to some of the world's best money managers.
It helps investors put this access to work in corporate defined
benefit and defined contribution plans, and in the life savings of
individual investors. Founded in 1936, Russell is a subsidiary of
Northwestern Mutual Life Insurance Company. Headquartered in
Tacoma, Wash., U.S., Russell has principal offices in Amsterdam,
Auckland, Johannesburg, London, Melbourne, New York, Paris, San
Francisco, Singapore, Sydney, Tokyo and Toronto. Forward Looking
Statements This news release contains forward-looking statements.
These forward-looking statements concern our operations, prospects,
plans, economic performance and financial condition and are based
largely on our current beliefs and expectations. These statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results to be materially different from any
future results expressed or implied by such forward-looking
statements. The risks and uncertainties related to our business
include all the risks attendant a development stage business in the
volatile energy industry, including, without limitation, the risks
set forth under the caption "Risk Factors" in our Annual Report on
Form 10-K for the fiscal year ended December 31, 2007. All
forward-looking statements included in this news release are based
on information available at the time of the release. We are under
no obligation to update or alter our forward-looking statements,
whether as a result of new information, future events or otherwise.
CONTACT: David Gillespie, President & CEO New Generation
Biofuels, Inc. 713-973-5720 Rob Schatz Wolfe Axelrod Weinberger
Associates, LLC 212-370-4500 DATASOURCE: New Generation Biofuels
CONTACT: David Gillespie, President & CEO of New Generation
Biofuels, Inc., +1-713-973-5720; or Rob Schatz of Wolfe Axelrod
Weinberger Associates, LLC, +1-212-370-4500
Copyright
New Gen Biofuels (AMEX:GNB)
Historical Stock Chart
From Aug 2024 to Sep 2024
New Gen Biofuels (AMEX:GNB)
Historical Stock Chart
From Sep 2023 to Sep 2024