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Oberon DME Receives EPA’s First Biogas-Based Fuel Approval Under the Renewable Fuel Standard

OBERON DME RECEIVES EPA’S FIRST BIOGAS-BASED FUEL APPROVAL UNDER THE RENEWABLE FUEL STANDARD

SAN DIEGO, CA – September 3, 2014 (GLOBE NEWSWIRE) – Oberon Fuels Inc.
(“Oberon”), the first company to announce plans to commercialize biogas-based dimethyl ether
(“DME”) fuel production in North America, announced today that the United States
Environmental Protection Agency (“EPA”) has approved its DME for inclusion under the
Renewable Fuel Standard (“RFS”). Oberon’s biogas-based DME is now eligible for high value
D-Code 3 (cellulosic) and D-Code 5 (advanced) renewable identification numbers (“RINs”)
under the RFS. The EPA determined that biogas-based DME produced from the Oberon process
resulted in an approximate 68% reduction in greenhouse gases when compared to baseline diesel
fuel.

“Less than a year after submitting our pathway petition, this biogas produced fuel was approved.
We are excited to see the EPA continue to support innovative, new fuels and include Oberon’s
DME under the Renewable Fuel Standard,” said Rebecca Boudreaux, Ph.D., president of Oberon
Fuels.

“One of the exciting attributes of DME is that, at its core, DME is a simple fuel,” according to
Oberon’s co-founder and COO Elliot Hicks. “It requires a simple diesel engine and has simple
propane-like handling properties.”

The transportation industry, particularly the heavy-duty sector, now has another option under the
RFS for a domestically produced, renewable fuel. “Our customers are engaged in heavy-duty
applications and need the power and torque of a diesel engine,” said Susan Alt, Volvo Group
North America’s senior vice president of public affairs. “Oberon’s DME offers that power
without the need for the cryogenics or high compression associated with other diesel
alternatives. We look forward to continuing our work with Oberon to demonstrate the benefits
of this clean-burning, non-toxic diesel alternative for the heavy truck industry.”

The EPA’s approval of biogas-based DME is the latest milestone for the growing DME industry.
In February 2014, ASTM International, a globally recognized organization that develops
technical standards, released a specification for DME as a fuel. ASTM D7901 provides guidance
for fuel producers, engine and component suppliers, and infrastructure developers on DME
purity, testing, safety, and handling.

About Oberon Fuels
California-based Oberon Fuels monetizes biogas and other hydrocarbon rich waste streams by
converting such feedstock into higher valued commodities. Using its proprietary small-scale
process, Oberon makes DME, a clean-burning diesel alternative, and methanol from methane
and carbon dioxide. In 2013, Oberon Fuels’ pilot plant in Brawley, California produced the first
fuel-grade DME in North America, which is currently being used by Volvo Trucks, a division of
The Volvo Group, in its commercial demonstrations of DME-powered, heavy-duty trucks. To
learn more about Oberon Fuels, visit www.oberonfuels.com.

About The Volvo Group
The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction
equipment, and marine and industrial engines. The Group also provides complete solutions for
financing and service. The Volvo Group, which employs about 110,000 people, has production
facilities in 19 countries and sells its products in more than 190 markets. See more at: www.
volvogroup.com.

For more information:
Brittany Syz – Media Relations
619-756-6459
Brittany@oberonfuels.com