COLUMBIA, Md., Oct. 5 /PRNewswire-FirstCall/ — Renewable fuels provider New Generation Biofuels Holdings, Inc. (NasdaqCM: NGBF) (“NGBF” or the “Company”) announced that it has entered into a definitive agreement with several institutional investors for a registered direct offering of 4,615,385 shares of previously unissued common stock at a price of $0.13 per share with total gross proceeds of $600,000. In addition to the issuance of common shares, New Generation will issue to the investors warrants exercisable for two common shares for every five common shares purchased with an exercise price of $0.13 per share. The warrants will expire 5 years from the closing date.

On Sept. 23, 2010 Renewable fuels provider New Generation Biofuels Holdings, Incannounced today that it has entered into a definitive agreement with several institutional investors for a registered direct offering of 3,557,692 shares of previously unissued common stock at a price of $0.13 per share with total gross proceeds of $462,500. In addition to the issuance of common shares, New Generation will issue to the investors warrants exercisable for three common shares for every four common shares purchased with an exercise price of $0.15 per share. The warrants will expire 5 years from the closing date. The terms of the offering also provide that for the next 30 trading days, the investors will have the right to purchase additional shares of common stock off the noted Form S-3 shelf registration statement at market prices as additional room becomes available as our non-affiliate share float increases.

On Aug. 17 The Company announced today that it has entered into a definitive agreement with a several institutional investors for a registered direct offering of 5,000,000 shares of previously unissued common stock at a price of $0.20 per share with total gross proceeds of $1.0 million. In addition to the issuance of common shares, New Generation will issue to the investors warrants exercisable for one common share for every four common shares purchased with an exercise price of $0.30 per share. The warrants will expire 5 years from the closing date. The common shares sold, the warrants and the shares underlying the warrants are to be issued under New Generation’s Form S-3 shelf registration statement that was previously declared effective by the Securities and Exchange Commission on January 27, 2009.

Palladium Capital Advisors LLC, acted as the Placement Agent for these transactions.

New Generation expects to use the net proceeds for general working capital purposes and fund additional debt settlements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus supplement together with the accompanying prospectus can be obtained at the Securities and Exchange Commission’s website at www.sec.gov

About New Generation Biofuels, Holdings, Inc.

New Generation Biofuels is a developer and provider of renewable fuels. New Generation Biofuels 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 that it markets as a new class of biofuel for power generation, commercial and industrial heating and marine use. The Company believes that its proprietary biofuel can provide a lower cost, renewable alternative energy source with significantly lower emissions than traditional fuels. New Generation Biofuels’ business model calls for establishing direct sales from manufacturing plants that it may purchase or build and sublicensing its technology to qualified licensees.