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A biodiesel production project with an annual output of 200,000 tons in Singapore: Longyan Excellence New Energy Co., Ltd. plans to inject an additional $20 million into its wholly-owned subsidiary in Singapore, Excellencenewenergy(Singapore) Pte.Ltd., to fund the construction of a biodiesel production facility there. The project for producing 200,000 tons of biodiesel per year (the Singapore Biodiesel Project) is planned to require a total investment of 50 million Singapore dollars (equivalent to approximately 37.22 million US dollars). Singapore Excellence has currently, through a bidding process, won the right to use the property of a biofuel production company (including land, factories, buildings, and related equipment and facilities). Based on the existing facilities, the company will carry out upgrades and expansions through process equipment optimization to achieve an annual production capacity of 200,000 tons of biodiesel. It is expected that the first phase of the project, with an annual production capacity of 100,000 tons of biodiesel, will be completed and put into operation by the first quarter of 2025.
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