USP Group agrees extension with buyer of Biofuels Research to July 5

In Singapore, the Straits Times newspaper reports that USP Group and AJ Jetting Pte Ltd have amended the term sheet for the sale of more than 93% of USP’s Biofuels Research for $5.59 million to extend the deadline for the final purchase agreement to July 5 from June 15. USP has received a good faith payment of S$1.4 million from AJ Jetting upon agreement to the term sheet amendment. Biofuels Research develops waste oil-to-biofuel technology.