New Generation Biofuels Holdings has signed its first biofuels sales contract with a subsidiary of Dynegy Inc it was announced this week (4th June). The contract, says the company, calls for New Generation Biofuels to supply up to 1.7 million gallons per year of biofuel for use at Dynegy's power plant in Oakland, California.

David A. Gillespie, President and CEO of New Generation Biofuels, said: "We're excited to have Dynegy as the first power plant operator to sign a biofuels contract with our company. Furthermore we see this development as a validation of our New Generation Biofuels technology in the power generation industry."

"This contract with New Generation Biofuels will be a continuation of our efforts in providing customers with competitively priced energy from both renewable and conventional sources," said Randy Hickok, Managing Director of Asset Management for Dynegy Inc.