SOURCE: Methes Energies International Ltd.

Methes Energies International Ltd.

September 10, 2014 09:00 ET

Methes Energies Achieves Record Biodiesel Production in August 2014 and Its Third Quarter

LAS VEGAS, NV--(Marketwired - Sep 10, 2014) - Methes Energies International Ltd. (NASDAQ: MEIL), a renewable energy company that offers an array of products and services to biodiesel fuel producers, announced today that it had produced over 412,000 gallons of ASTM quality biodiesel at its Sombra, Ontario facility in August 2014, a record month in terms of gallons produced, surpassing the previous monthly high of 308,000 gallons in November 2013. This past August production generated revenues of over $1.3 million, excluding the potential benefit of the Blender's Tax Credit reinstatement. Methes also shipped a record high 18 railcars of its own production in August 2014, surpassing its previous high of 15 railcars in October 2013.

Methes also achieved a record high production of almost 800,000 gallons of ASTM quality biodiesel at its Sombra facility during its third quarter ending August 31, 2014, versus the 250,000 gallons produced in the third quarter of 2013. The 2014 third quarter production translates into over $2.6 million in revenues, again excluding the potential benefit of the Blender's Tax Credit reinstatement.

Nicholas Ng, President of Methes, said, "Production is going very smoothly and both our Denami 3000s are performing very well as expected. Our production team is doing a great job and they look forward to produce even more biodiesel in our next quarter. Over the last few months, working with our clients has been rewarding and we will continue to build on those relationships to move even more biodiesel. We expect to ship over 25 railcars in September, which would be another record high for the company. We are currently finalizing production and sales forecasts for October, November and December 2014 and expect to provide production updates on a regular basis in the future."

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.

Contact Information

  • Contacts:
    Methes Energies International Ltd.
    Michel G. Laporte
    Chairman and CEO
    702-932-9964