SOURCE: Nova Energy, Inc.

May 24, 2010 09:00 ET

(NVAE) Nova Energy Joins Shanghai Trade Mission to Pursue $200 Million Greenfield Program Revenue Goal

DALLAS, TX--(Marketwire - May 24, 2010) -  Nova Energy, Inc. (PINKSHEETS: NVAE) (OTCQB: NVAE) today joined other NewMarket Technology, Inc.(PINKSHEETS: NWMT) (OTCQB: NWMT) Greenfield Program partners in Shanghai to participate in a week-long trade mission and Greenfield Partners CEO conference hosted by China Crescent Enterprises, Inc. (OTCBB: CCTR) in conjunction with the World's Fair. The World's Fair, which opened at the beginning of the month and runs through October 31 in Shanghai, is expected to attract some 70 million visitors. Greenfield Partner representatives and Trade Mission delegates from the United States, Africa, Southeast Asia and South America converged today in Shanghai to pursue the joint opportunities outlined in a 2010 Greenfield Summit hosted earlier this year in Shanghai. At the conclusion of the 2010 Greenfield Summit in March, China Crescent's CEO outlined a Greenfield Program opportunity to achieve a potential $200 million in combined revenue between all participant companies in 2010 through project collaboration in China. The CEO conference this week is expected to concentrate on developing a channel to provide brand name Chinese-based technologies in East Africa, where Nova already has a presence.

Second Quarter Acquisition Campaign Webcast

Last week, Nova announced finalizing a letter of intent (LOI) and corresponding escrow agreement in the planned acquisition of Palm Healthcare International LTD by Savanna East Africa LTD. Nova plans to conduct a Webcast tomorrow, May 25th to review its overall acquisition pipeline, including three acquisitions the Company plans on closing in the second quarter. Earlier this year, Nova announced a business plan expansion into diversified industries in East Africa. Savanna East Africa LTD was formed to facilitate acquisition and business development in East Africa. Nova also has a robust pipeline of acquisition opportunities to support both its expanded business plan in East Africa as well as its oil reclamation strategy. A link to the Webcast will be published to the Nova website, www.novaei.com, upon release.

Nova Energy Email Updates
Nova is expanding its website and plans to issue regular updates on Company progress via email to its opt-in, permission-based email database. To join the email database, please send an email to ir@novaei.com.

About Nova Energy, Inc. (www.novaei.com)
Nova Energy, Inc. has launched an updated corporate strategy to pursue several business lines in the growing economy of East Africa, initially in Kenya. Nova has already begun several initiatives in the region to include initiatives in the Technology, Utility, Housing and Health products industries.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

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