Titan Global Holdings, Inc (OTCBB:TTGL) announced today (24th July) the formation of a strategic partnership whereby NewGen Technologies will be the exclusive supplier of biofuels for Appalachian Oil Company (APPCO). The move follows the Titan Global's recently announced deal to acquire 100% of the outstanding stock of APPCO, representing the new Titan Energy Division’s initial acquisition in the energy sector.

Under the terms of the agreement, and following completion of the Appco acquisition, Titan will enter into a contract with NewGen for a term of 10 years providing Refuel America, Inc., a wholly owned subsidiary of NewGen, with the exclusive right to supply biofuel products to Appco or its affiliates. Each of Appco (or its affiliates) and Refuel America, Inc., will be permitted to terminate the supply contract solely with cause upon 60 days' prior notice.

As a result of today’s agreement, in exchange for reimbursement of certain Appco-related expenses, NewGen has agreed to assist Titan in the closing of the Appco acquisition, including but not limited to, the sharing of due diligence material, the transfer of professional work product, and other reasonable assistance Titan may request of NewGen.

Appco, formed in 1923 and based in Blountville, Tennessee, is a privately held petroleum company that owns and operates an extensive petroleum product distribution network that generated $403 million in revenues for fiscal 2006. 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 terminal operators and major oil companies.

“This agreement is a classic win-win proposition for Titan and NewGen,” 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.”

Mr. Marks, Frank Crivello and their affiliated investors are minority shareholders in NewGen.

“NewGen’s biofuel expertise will enable us to exploit opportunities to increase margins at Appco,” said Bryan Chance, Chief Executive Officer of Titan Global Holdings. “Titan’s senior management is firmly committed to building on that success through the execution of a strategic plan to similarly increase revenues and earnings in the dynamic energy sector.”

"Our strategic biofuel agreement with Titan is a strong first-step agreement for NewGen and Titan," said S. Bruce Wunner, Chairman and CEO of NewGen. "Titan can leverage its financial strength with our expertise and ability to exploit opportunities in the alternative energy space which we understand well. The agreement will provide us with the exclusive right to supply biofuels to Appco, which was a synergy we coveted when we initially bid for Appco. I look forward to working with Bryan and his team. We are exploring other strategic biofuel opportunities with Titan."