NRG Energy, Inc. Announces Partnership to Pursue Innovative Technology for Recycling Carbon Dioxide Emissions into Biofuel

Business Wire, May 16, 2006

PRINCETON, N.J. -- NRG Energy, Inc. (NYSE:NRG) has formed a joint initiative with GreenFuel Technologies Corporation (GreenFuel) and the New York State Energy Research and Development Authority (NYSERDA) to study carbon dioxide (CO2) recycling. The technology takes the flue gas of a power plant and utilizes GreenFuel's innovative, algae-bioreactor technology to effectively recycle CO2 into commercially viable byproducts. NRG's Dunkirk facility, a coal-fueled power plant located in western New York State, will serve as the host site for the study.

"Our key goals are, and have always been, to provide affordable, reliable and environmentally responsible energy. In that regard, doing our part to advance technological initiatives that may reduce CO2 emissions from our plants is a moral imperative," said David Crane, NRG's President and CEO. "We are pleased to work with GreenFuel and NYSERDA and glad to dedicate the time and resources to make it happen," he added.

"NRG's solid reputation in the energy industry and exemplary goals for environmental responsibility and performance make NRG a premier choice as one of our key power-industry partners," said Greenfuel CEO, Cary Bullock. "We appreciate NRG's support for this project, along with the generous grant from NYSERDA. We look forward to a mutually beneficial, long-term relationship."

NRG's participation in this study is part of "ecoNRG," the Company's ongoing and extensive environmental business effort. In field tests to be conducted at Dunkirk, GreenFuel will utilize a mini-bioreactor system to assess the technical and economic feasibility of its Emissions-to-Biofuel(TM) process that harnesses the photosynthetic processes of algae to consume waste gases and heat from a power plant's air emissions stream, ultimately producing a high energy biomass. This means that in the presence of light, the single-celled algae take up CO2 to produce the energy that fuels plant life--with a general rule of thumb being that two tons of algae remove one ton of CO2. Once the algae are harvested, they can be converted to generate commercially viable byproducts such as ethanol or biodiesel.

"We are pleased to support NRG and GreenFuel as they study an alternative method for the capture and sequestration of CO2," said Peter R. Smith, President and CEO, of NYSERDA. "This project has the potential to not only benefit the air quality in the surrounding community, but to also continue our progress toward producing clean renewable energy here in New York."

Once commercialized, GreenFuel's bioreactors can be retrofitted to existing sources with minimal impact on existing generation operations. The NYSERDA-funded study will run until year end.

About NRG

NRG Texas LLC, NRG Energy, Inc. owns and operates a diverse portfolio of power-generating facilities, primarily in Texas and the Northeast, South Central and Western regions of the United States. Its operations include baseload, intermediate, peaking, and cogeneration facilities, thermal energy production and energy resource recovery facilities. NRG also has ownership interests in generating facilities in Australia and Germany. The Company's recently launched "ecoNRG" program encompasses NRG's overall and ongoing environmental, or "green," business efforts. For additional information, visit the Company's website at www.nrgenergy.com.

About GreenFuel Technologies Corporation

With more than a dozen pending patents, GreenFuel Technologies Corporation is the leading developer of algae bioreaction systems that recycle CO2 from power and manufacturing plant flue gases - converting it to an on-site, continuous supply of biofuel, such as biodiesel, ethanol or methane. The company is headquartered at its 13,000 square foot lab in Cambridge, Massachusetts. GreenFuel Technologies Corporation was founded in 2001 by Isaac Berzin, who now serves as Chief Technology Officer. For more information, visit www.greenfuelonline.com.

About NYSERDA

The New York State Energy Research and Development Authority (NYSERDA) was established in 1975 as a public benefit corporation. NYSERDA funds research in areas relating to energy supply and efficiency, as well as energy-related environmental issues, important to the well-being of New Yorkers. NYSERDA finances, through the sale of bonds, environmental and energy improvements for the State's energy infrastructure. The organization has been cited by the U.S. Department of Energy as being among the best government research organizations in the North America, including others such as NASA.

Certain statements included in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements above include, but are not limited to the expected timing and prospects for success of the study. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct. Factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements above include, among others, coordination and cooperation among the entities working on the study, and the availability of funding and key personnel for the study.