MIAMI, Aug. 18, 2026 (GLOBE NEWSWIRE) -- UMeWorld Inc. (OTCID: UMEW) (“UMeWorld” or the “Company”), an industrial biotechnology and renewable fuels developer, today announced a major development milestone for its flagship Sustainable Aviation Fuel (“SAF”) initiative, Project Verdant™, located in Malaysia. Following receipt and review of the initial findings from an independent feasibility study conducted by FGE NexantECA, a global energy advisory firm, with the final report anticipated in the coming weeks, the Company has formally advanced the project into the Front-End Engineering Design (“FEED”) contractor-selection phase and issued a Request for Interest (“RFI”) to shortlisted international engineering, procurement and construction (“EPC”) contractors.
The initial findings addressed Project Verdant’s technical configuration, renewable feedstock strategy, capital and operating requirements (“CAPEX” and “OPEX”), logistics, market outlook and overall project economics. These findings support advancing the project into its next stage of engineering development while informing ongoing discussions with regional development finance institutions, multilateral lenders, strategic partners and project-finance providers.
Project Verdant is designed to utilize proven Hydroprocessed Esters and Fatty Acids (“HEFA”) technology to target an initial Phase 1 SAF production capacity of approximately 200,000 metric tons per year, with phased expansion potential up to 400,000 metric tons per year. The proposed facility features an integrated multi-feedstock model capable of processing established renewable lipids, such as Used Cooking Oil (“UCO”), alongside scalable alternative feedstocks such as Single-Cell Oil (“SCO”). UMeWorld is advancing the future commercialization and deployment of SCO through strategic investment and technology partnerships, with the objective of diversifying Project Verdant’s feedstock supply and progressively reducing its reliance on UCO as commercial volumes scale.
To reduce carbon intensity, the proposed project configuration incorporates an on-site hydrogen manufacturing unit designed to utilize internally generated renewable naphtha as a supplementary feedstock, reducing the facility’s reliance on fossil-derived hydrogen.
To preserve commercial competition, optimize capital expenditure and strengthen execution, UMeWorld is implementing a competitive dual-FEED approach. Under this framework, two selected contractors will independently develop parallel FEED packages for Project Verdant.
The shortlisted EPC contractors have been requested to submit their RFI responses by September 30, 2026. UMeWorld plans to select two contractors in October 2026 to participate in the dual-FEED process, with engineering activities targeted to commence during the fourth quarter of 2026.
Upon completion of the dual-FEED phase, UMeWorld intends to select a preferred EPC contractor based on engineering quality, capital efficiency, execution strategy, commercial terms, process guarantees and overall project bankability. The preferred contractor will be positioned to transition into a lump-sum turnkey EPC contract, subject to project financing, Final Investment Decision (“FID”) and negotiation of definitive commercial agreements.
“Advancing Project Verdant into FEED contractor selection represents a major milestone for UMeWorld,” said Michael Lee, Chief Executive Officer of UMeWorld. “Following the initial findings from our feasibility study, we are progressing from initial concept development into a structured engineering and contractor-selection process.”
“Our competitive dual-FEED strategy is designed to maintain commercial tension, optimize engineering and capital costs, strengthen execution and secure robust performance guarantees for investors and project-finance partners,” Mr. Lee continued. “At the same time, we are addressing the industry’s critical feedstock challenge through an integrated multi-feedstock strategy developed around the scale and long-term requirements of the facility. Advancing the refinery and its feedstock platform in parallel remains central to our execution strategy.”
About Project Verdant™
Project Verdant™ is UMeWorld’s Sustainable Aviation Fuel development platform targeting an initial production capacity of approximately 200,000 metric tons per year, with expansion potential to 400,000 metric tons per year. Located in Malaysia, the facility utilizes an integrated multi-feedstock strategy designed to provide greater flexibility in sourcing scalable and sustainable renewable feedstocks.
About UMeWorld Inc.
UMeWorld Inc. (OTCID: UMEW) is focused on the convergence of industrial biotechnology and renewable fuels. The Company develops feedstock, fermentation, and commercialization strategies designed to support growing demand for Sustainable Aviation Fuel and other low-carbon energy solutions.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. These statements include statements regarding the proposed development, design, capacity, feedstock strategy, engineering, financing, construction, and operation of Project Verdant; finalization and conclusions of the independent feasibility study; commencement and completion of FEED; implementation of a dual-FEED strategy; evaluation and selection of FEED and EPC contractors; production and use of bio-naphtha and hydrogen; availability and qualification of renewable feedstocks; project financing and FID; construction commencement; and the timing of commercial operations. Forward-looking statements are based on current expectations, estimates, and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Project Verdant remains subject to completion of feasibility and engineering work, feedstock availability, technology qualification, sustainability certification, regulatory approvals, commercial agreements, financing, contractor selection, and other customary project-development conditions. UMeWorld undertakes no obligation to update any forward-looking statement except as required by applicable law.
Contact
UMeWorld Inc.
Investor Relations
Email: investors@umeworld.com
Website: www.umeworld.com
