NEW YORK, NY--(Marketwire - July 1, 2009) - Novo Energies Corporation (OTCBB: NVNC), a renewable energy company that has developed and designed an effective and novel process to transform plastic and tire wastes into liquid fuel such as diesel, gasoline or fuel additives, announced today that Grass Roots Research and Distribution, Inc., a Wall Street leading independent research firm, has initiated unsolicited coverage on Novo Energies with a "BUY" recommendation and a $1.25 per share Long-Term Target Price. Grass Roots provides an in-depth analysis, including 5-year financial and valuation projections, on Novo Energies' business and growth drivers. The research report and "Buy" recommendation on Novo Energies can be found at http://grassrootsrd.com/nvnc-home.php or at www.novoenergies.com under Analyst Coverage.

About Grass Roots Research and Distribution, Inc. (GRRD) (www.grassrootsrd.com). GRRD has raised the art of fundamental securities research by forecasting and valuing all of its companies in three cases over a 5-year time period. GRRD's independent third party stock research business selectively initiates Independent Research Analyst Coverage for overlooked public corporations. GRRD identifies and initiates non-traditional company research. GRRD selects micro cap stocks and small cap stocks with management teams focused on shareholder value, sustainable competitive advantage, and companies that demonstrate market leadership in their respective disciplines. GRRD distributes in-depth stock market research reports that highlight the company's market opportunity, technology, management, competition and other key differentiators that may affect their short and long term valuation.

About Novo Energies Corporation (www.novoenergies.com). Novo Energies is a public company trading on the Over the Counter Bulletin Board Market ("OTCBB") under the symbol NVNC, headquartered in New York, NY. The Company's mission is to continue expanding within the renewable energy sector by developing and implementing renewable energy solutions while maintaining its commitment to conserve energy, natural resources and help reduce pollutants and unwanted wastes. Based upon a novel technology, Novo Energies' wholly owned subsidiary WTL Renewable Energy, Inc. will plan, build, own and operate renewable energy plants throughout North America that will transform residual plastics and tires to valuable liquid low carbon fuels such as diesel, gasoline and fuel additives.

Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on the Company's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors that the Company has little or no control. Such forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in the Form 10-K of the Company for the fiscal year end August 31, 2008, and other documents filed from time to time by the Company with the Securities and Exchange Commission.