Sherdar Australia Bio Refinery announces plans to develop Australia’s first-ever renewable diesel processing and storage facility

The facility will produce renewable fuels with lower carbon emissions than conventional fossil fuels by utilising local feedstock.

SINGAPORE - Media OutReach - 6 December 2021 - Sherdar Australia Bio Refinery Pty Ltd, an Australian-based company, today announced plans to develop a renewable diesel processing and storage facility in the country. When in full operation, the facility aims to produce 500,000 tonnes per annum of renewable fuels with lower carbon emissions than conventional fossil fuels. This will position Australia as one of the major renewable fuel producers and exporters in the world, which is in support of Australia Government Policy to forge a sustainable future.

While the exact location has yet to be announced, the facility will cover more than 20 hectares in land size and will be located close to adequate port infrastructure, as the primary countries for exporting renewable diesel will be the United States and Europe to meet the rising demand of renewable fuels in both regions. Sherdar is currently in the final stages of engineering governmental discussions and receiving relevant approvals for the project.

Some of the considerations in mind in determining the eventual site were availability of supporting infrastructure and sufficient qualified local workforce. This project, estimated to cost 600 million USD, will be looking to hire 120 people for plant operations and will create job opportunities for more than 600 people including raw materials suppliers and those working in logistics.

The facility will adopt the Shell Renewable Refining Process that can input a wide range of animal fat, seed oil and waste greases as feedstock to produce high quality renewable fuels. This advanced technology can process 100% biofeeds into profitable renewable diesel and sustainable aviation fuel with Shell's hydrotreated vegetable oil (HVO) technology.

Amon Aslanov, CEO of Transasia Minerals Ltd (one of the main project lead drivers) says of the project, "We are eager to get this project started as this will be a huge opportunity for us to establish a hub in Australia for export of renewable diesel to other parts of the world. The benefits of renewable diesel are clear - it is the cleaner and higher performing alternative to petroleum diesel - and this affirms our sustainability commitment to produce renewable fuels with lesser impact to the environment, with Australia as our preferred site location. With the support of the government, we also hope to contribute job opportunities to the local workforce."

About Sherdar Australia Bio Refinery Pty Ltd

Sherdar Australia Bio Refinery Pty Ltd is a special purpose investment vehicle recently established in Australia by Transasia Minerals group in order to locally develop the Bio Refinery project and be responsible for the full scope of its management and operations.

About TransAsia Minerals Ltd

Transasia Minerals Ltd is a privately owned investment company, with main focus on mining, oil & gas and energy sectors, with head office in Jakarta, Indonesia and representative offices in Singapore and South Africa.

For more information on TransAsia Minerals, please visit: http://www.transasiaminerals.com/home/.

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The issuer is solely responsible for the content of this announcement.