Pearl Global Limited advised that the company has signed a new Sales Offtake Agreement with Stanley Macadam Pty Ltd. Pearl's initial entry as a supplier to the asphalt market was through a 5-year Offtake Agreement with Aussee Road Services, announced to the ASX on April 1, 2020 and March 15, 2021. The early sales success of Pearl's tyre derived fuel oil and recovered carbon black used in asphalt manufacturing with Aussee has provided a strong platform for Pearl to secure its second long term fuel oil Offtake Agreement with Stanley. Product pricing is commercial in confidence, but production from Pearl's three existing thermal desorption units will be used to fulfill the Sale Agreement, and if supplying the maximum quantities under the contract, Pearl can earn approximately $2.5 million over the life of the Agreement. There is no minimum quantity to be supplied and consequently no guaranteed revenue under the Agreement. The company is pleased to note that during 2020 and early 2021, Stanley extensively tested Pearl's fuel oils and subsequently made specific changes to its plant located in Ipswich, Queensland, to facilitate the use of Pearl's fuel oils in Stanley's production process.