Methes Energies Finalizing Arrangements to Supply up to 40 Railcars of Biodiesel per Month to U.S. Clients
May 08 2014 - 3:01PM
Marketwired
Methes Energies Finalizing Arrangements to Supply up to 40 Railcars
of Biodiesel per Month to U.S. Clients
LAS VEGAS, NV--(Marketwired - May 8, 2014) - Methes Energies
International Ltd. (NASDAQ: MEIL), a renewable energy company that
offers an array of products and services to biodiesel fuel
producers, today announced that it is finalizing arrangements with
a large national aggregator and a downstream distributor in the
United States to supply up to 40 railcars of biodiesel per month or
the equivalent of up to 1 million gallons per month for the rest of
2014 and beyond.
Methes Energies is now qualified to be an importer of record of
biodiesel into the U.S. and to itself generate RIN's (Renewable
Identification Numbers) in the U.S. This will provide better
margins and give Methes Energies the ability to sell directly to
U.S. buyers.
Nicholas Ng, President of Methes Energies, said, "We're very
excited about the opportunity to bring our Sombra facility to full
current production capacity. At current prices these new
arrangements can add up to $4 million per month to our biodiesel
sales. Also, the fact that we can now sell directly to U.S.
buyers will make things much easier for us and enhance our ability
to attract additional U.S. customers. This might get us to increase
capacity in Sombra sooner rather than later."
About Methes Energies International Ltd.
Methes Energies International Ltd. is a renewable energy company
that offers a variety of products and services to biodiesel fuel
producers. Methes also offers biodiesel processors that are unique,
truly compact, fully automated state-of-the-art and continuous flow
that can run on a wide variety of feedstocks. Methes markets and
sells biodiesel fuel produced at its showcase production facility
in Mississauga, Ontario, Canada, and at its 13 MGY facility in
Sombra, Ontario, to customers in the U.S. and Canada, as well as
providing multiple biodiesel fuel solutions to its
clientele. Among its services are selling commodities to its
network of biodiesel producers, selling their biodiesel production
and providing clients with proprietary software to operate and
control their processors. Methes also remotely monitors the
quality and characteristics of its clients' production, upgrades
and repairs their processors and advises clients on adjusting their
processes to use varying feedstock to improve the quality of their
biodiesel. For more information, please visit www.methes.com.
Forward-looking Statements
This press release contains forward-looking statements
regarding future events and financial performance. In some cases,
you can identify these statements by words such as "may," "might,"
"will," "should," "except," "plan," "intend," "anticipate,"
"believe," "estimate," "predict," "potential," or "continue," the
negative of these terms and other comparable terminology. These
statements involve a number of risks and uncertainties and are
based on numerous assumptions involving judgments with respect to
future economic, competitive and market conditions and future
business decisions, all of which are difficult or impossible to
predict accurately and many of which are beyond the Company's
control. There are or may be important factors that could cause our
actual results to materially differ from our historical results or
from any future results expressed or implied by such forward
looking statements. These factors include, but are not limited to,
those discussed under the section entitled "Risk Factors" in our
Annual Report on Form 10-K for the year ended November 30,
2013, filed on February 25, 2014, as amended, which is available at
the U.S. Securities and Exchange Commission website at
www.sec.gov. The forward-looking statements in this
press release are based upon management's reasonable belief as of
the date hereof. The Company undertakes no obligation to revise or
update publicly any forward-looking statements for any
reason.
Contacts: Methes Energies International Ltd. Michel G. Laporte
Chairman and CEO 702-932-9964
Methes Energies (PK) (USOTC:MEIL)
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