(606) 679-6301 info@conrefco.com

SOMERSET, KY (June 14, 2022) – Just six months after officially breaking ground last December, the
Continental Refining Company (CRC) announced substantial construction progress in its “AgriTech”
evolution, where it is currently investing an additional $31.5 million to acquire and install a
soybean crushing, biodiesel refining and blending facility at the legacy CRC oil refinery in
Somerset, Kentucky.

Aerial photographs reveal a new storage tank facility area next to the refinery’s offices, and an
industrial building modified to house the biodiesel production plant. Mechanical completion for
the biodiesel plant is set for August 2022 with startup occurring in September 2022. CRC is
currently interviewing for operations positions needed with anticipation of having those roles
filled by July 2022.

Perhaps the most visible construction on site has occurred in the Soybean Processing Area, where
the main soybean storage bins have risen eight stories above ground. New buildings constructed in
this area will also house the soybean crushing and processing equipment, along with associated
product storage and loading systems. The soybean receiving portion of the project will be
complete and operational by October 2022, with the remainder of the plant to follow in November
2022. Hiring of the necessary positions for this part of the operation will be phased over the
next 4 months.

Though not visibly noticeable in the photos, a new fuels terminal has been established on the
property as well. The majority of its related equipment has already been received and finalization
of design plans are near complete, with installation to begin in July 2022. Completion and
operation of the new fuels terminal is set to coincide with the completion of the biodiesel plant
in September 2022.

CRC officially reopened its fuel distribution and bulk lubricant operations last November, offering
on-site fueling for retail, commercial and industrial, construction, agriculture, and residential
customers. CRC serves as a fuel producer and distributor based in Somerset, Kentucky serving
customers in Pulaski and the eight surrounding counties. CRC has also entered into a marketing
agreement to distribute Phillips 66 bulk lubricants and products. The company offers two types of
transport as part of its services – large tanker transport and tank wagon.

Local entrepreneur and Hemisphere Limited CEO Demetrios Haseotes purchased the refinery in 2011,
investing over $40 million updating and improving the facility’s crude oil refining capabilities
over the years. Haseotes will now shift his focus to soybeans as the future of diesel energy
production and additives at his Continental

CRC will create up to 32 new jobs with an annual payroll of over $2.65 million (including taxes and
benefits) and an average salary range of approximately $18-20 per hour.
CRC is located on 77 acres in the heart of Somerset, KY. This revitalization process includes the
acquisition and installation of its soybean crushing and biodiesel facility. CRC’s crushing
facility will process nearly four million bushels of soybean per year (84 thousand tons) while its
biodiesel refining division will generate up to five million gallons per year as planned. CRC’s
product terminal will have the ability to distribute over 130 million gallons of product.
CRC intends to generate income by engaging in the sales of the below listed products and services:

• ULSD (Ultra Low Sulfur Diesel) both on road and off road
• Gasoline
• Biodiesel ranging from B6 to B100
• High-protein fiber meal for animal feed (targeting the broiler chicken industry)
• Soy Hulls
• Soybean Oil for industrial use
• Crude Glycerin
• The Company will utilize local businesses to provide soybean feedstock that will be
refined into biodiesel fuels to support the farm, school and community fuel needs of Pulaski
County, Kentucky and surrounding regions.
• Biodiesel is a domestically produced, clean-burning, renewable substitute for
petroleum diesel. Using biodiesel as a vehicle fuel increases energy security, improves air quality
and the environment, and provides safety benefits.
• The in-state crushing facility will reduce costs for farmers, keep jobs in
Kentucky, reduce wear and tear on infrastructure and contribute positively to the economies of
Pulaski County and the greater Commonwealth.
• The revitalized facility will have a significant economic impact, as it relies
heavily on a network of local producers and has the potential to develop ancillary business
opportunities through the supply chain in the region. Beneficiaries include local producers,
equipment and machinery manufacturers, other value-added agriculture processors, and businesses in
the construction and logistics service sectors to name a few.
More information about Continental Refining Company may be found at www.conrefco.com

FOR IMMEDIATE RELEASE Contact: Kevin Borland
(202) 320-2301