UMeWorld Engages FGE NexantECA for Independent Feasibility Study on $500M+ SAF Hub
UMEW has more than doubled off its 52-week low of $0.065.
Summary
UMeWorld has engaged FGE NexantECA to conduct an independent feasibility study for Phase 1 of Project Verdant, its planned renewable aviation fuels hub in Malaysia. Phase 1 targets 200,000 metric tonnes of SAF annually, with management estimating over $500 million in annual revenue once commercial operations begin. The study is a critical step before engineering, project financing, and construction, with a timeline extending to initial operations in Q3 2029. This follows earlier news of the company's SCO development strategy in China and strong Q2 revenue growth, signaling a serious push into the SAF market. Completion of the study in Q3 2026 will be the next key milestone for project financing discussions.
At the time of this announcement, UMEW was trading at $1.00 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $116.1M. The 52-week trading range was $0.07 to $1.25. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.