The engagement marks Project Verdant's transition from internal development into the independent validation stage that precedes engineering, project financing, and commercial executionMIAMI, July 14, 2026 (GLOBE NEWSWIRE) -- UMeWorld Inc. (OTCID: UMEW) ("UMeWorld" or the "Company"), a developer focused on the convergence of industrial biotechnology and renewable fuels, today announced that it has engaged FGE NexantECA, a global provider of market intelligence and strategic consulting across the energy and chemicals value chain, to conduct an Independent Feasibility Study for Phase 1 of Project Verdant™, the Company's planned Renewable Aviation Fuels Hub in Malaysia. The Independent Feasibility Study represents an important milestone in the development of Project Verdant. The study will provide an independent technical and commercial assessment of the project before it advances to engineering, project financing, and commercial construction. FGE NexantECA has supported more than US$200 billion of global energy infrastructure investments and has extensive experience advising renewable fuels and Sustainable Aviation Fuel (SAF) projects worldwide. Key Highlights <ul type="disc"><li style="text-align:justify;">Independent Validation Begins – Project Verdant advances from internal feasibility to independent third-party validation, an important milestone before engineering, project financing, and commercial construction.</li><li style="text-align:justify;">200,000 MTPA Phase 1 – Phase 1 targets production of approximately 200,000 metric tonnes of Sustainable Aviation Fuel (SAF) annually. Based on the Company's current internal feasibility assessment, management estimates Phase 1 could generate more than US$500 million in annual revenue once commercial operations commence.</li><li style="text-align:justify;">Scalable Renewable Aviation Fuels Hub – While the Independent Feasibility Study focuses on Phase 1, Project Verdant is being developed as a phased Renewable Aviation Fuels Hub with potential future expansion in production capacity, renewable feedstock integration, and next-generation aviation fuel technologies.</li><li style="text-align:justify;">Growing Market Opportunity – Independent market research projects global SAF demand to increase from approximately 2 million tonnes in 2025 to nearly 13 million tonnes by 2030, supporting long-term demand for additional production capacity. </li></ul> The Independent Feasibility Study will evaluate Project Verdant's technical configuration, renewable feedstock strategy, capital expenditure (CAPEX), operating expenditure (OPEX), logistics, market outlook, and project economics. The study establishes a commercial baseline utilizing proven Hydroprocessed Esters and Fatty Acids (HEFA) technology and renewable lipid feedstocks. Upon completion, the Independent Feasibility Study is expected to provide the independent technical and commercial assessment supporting the next stage of discussions with regional development finance institutions, multilateral lenders, commercial lenders, and strategic project equity partners as Project Verdant advances toward engineering, project financing, and commercial development. In parallel, UMeWorld continues advancing its proprietary microbial oil initiatives, which management believes have the potential to diversify future feedstock supply, improve long-term project economics, and support future expansion. Project Development Timeline <ul type="disc"><li style="text-align:justify;">Q3 2026 – Independent Feasibility Study completed</li><li style="text-align:justify;">Q4 2026 – Front-End Engineering Design (FEED) commences</li><li style="text-align:justify;">Q2 2027 – FEED completed</li><li style="text-align:justify;">Q3 2027 – Project Financing and Final Investment Decision (FID)</li><li style="text-align:justify;">Q4 2027 – Construction commences</li><li style="text-align:justify;">Q3 2029 – Initial commercial operations </li></ul> "This marks a major milestone in the development of Project Verdant," said Michael Lee, Chief Executive Officer of UMeWorld. "We have completed our internal feasibility work, and the next step is to have one of the world's leading independent energy advisors provide an objective technical and commercial assessment before we advance into engineering and project financing. Independent validation is a standard step in the development of major energy infrastructure projects and helps establish the technical and commercial foundation for the next stage of project development." "Project Verdant is more than a single SAF production facility," Lee continued. "Our vision is to develop an integrated Renewable Aviation Fuels Hub where renewable fuel production and industrial biotechnology are developed together. In addition to establishing commercial SAF production, Phase 1 includes the development of our proprietary microbial oil platform, creating the foundation for a diversified and scalable renewable feedstock ecosystem. We believe this integrated approach differentiates Project Verdant from conventional SAF developments by combining proven fuel production technology with proprietary feedstock innovation. As the project evolves, we intend to expand both SAF production and microbial oil capacity while evaluating additional aviation fuel technologies. Our objective is straightforward: execute each milestone, reduce project risk, and build a long-term platform supporting the aviation industry's transition toward lower-carbon fuels." The successful development of commercial-scale Sustainable Aviation Fuel projects requires disciplined execution across technical validation, engineering, financing, permitting, and construction. By advancing Project Verdant through independent feasibility, UMeWorld is progressing the project through the structured development process used for major energy infrastructure investments. Management believes the completed study will strengthen the project's technical and commercial foundation as the Company advances discussions with prospective financing partners and prepares for the next stage of engineering and project development. About Project Verdant™ Project Verdant™ is UMeWorld's Renewable Aviation Fuels Hub under development in Malaysia. Phase 1 is designed to establish commercial-scale Sustainable Aviation Fuel production utilizing proven HEFA technology while developing the Company's proprietary microbial oil platform to support long-term feedstock diversification. Through phased expansion, the Company intends to develop Project Verdant into an integrated Renewable Aviation Fuels Hub supporting long-term aviation decarbonization. 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 the growing global demand for Sustainable Aviation Fuel (SAF) and other low-carbon energy solutions. About FGE NexantECA Formed through the 2025 merger of FGE and NexantECA, <a href="https://www.globenewswire.com/Tracker?data=zFxsaH66ARp7fjnXrDkoVlIJIKiwlFbALZIfJMJ9bWoEpy-CGC7JM_ZrqQsot_8AJQ-C1M0mdWk6_FVbc4NZam-6zK4eVdUnOJqvDMYHzS8=" rel="nofollow" target="_blank" title="FGE NexantECA">FGE NexantECA</a> is a global provider of market intelligence and strategic consulting across the energy and chemicals value chain. With more than 200 experts based in 14 key locations globally and drawing on over 100 years of combined experience, the firm delivers independent intelligence and tailored advisory services across oil and gas, hydrocarbons, chemicals and emerging green technologies. FGE NexantECA serves major energy and chemical companies, investors, governments, regulators, midstream and downstream operators, and financial institutions, enabling decision-makers to optimise value chains and succeed in a rapidly evolving energy landscape. Media Contact – <a href="https://www.globenewswire.com/Tracker?data=iH1GzTPeKQBW4SHOBo3EBgESwZLu6HZRKgTg8NTKSH-28e5DRjCE95Kx7P_xuu0uc1a0If-wr4r3-yI1VFbOAi5zBZ4oizjbTMap6MpsWt-UvvQ89W0fQ0Nk_Zc07btY" rel="nofollow" target="_blank" title="marketing@fgenexanteca.com">marketing@fgenexanteca.com</a> Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “may,” “will,” or similar expressions. These statements are based on current expectations and assumptions and are subject to risks described in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements except as required by law. CONTACT Michael Lee Chief Executive Officer UMeWorld Inc. <a href="https://www.globenewswire.com/Tracker?data=OKbRax5TJeL1Enm99vrXQ0sXB742PD9mSNvL251HyTtbQ-nmP_UYqoAPPecEg0AUMPB1h8TfuoNj1vFgoQXSSBTZ6JbGH9F-5a17NQ49unw=" rel="nofollow" target="_blank" title="investors@umeworld.com">investors@umeworld.com</a> <img alt="" src='https://ml.globenewswire.com/media/MDgyY2RjNmYtMGU4Mi00ZDYwLThhMDUtNGM1ZGM2NDFmYTNmLTEyNjAxMDUtMjAyNi0wNy0xNC1lbg==/tiny/UMeWorld-Limited.png' referrerpolicy='no-referrer-when-downgrade' />

UMeWorld Advances Project Verdant™ into Next Phase of Commercial Development; Engages FGE NexantECA for Independent Feasibility Study

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