SOURCE: Methes Energies International Ltd.

Methes Energies International Ltd.

July 14, 2014 09:00 ET

Methes Energies Completes Its First Biodiesel Sale Transaction in the United States

LAS VEGAS, NV--(Marketwired - Jul 14, 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 had completed its first biodiesel transaction in the United States. The transaction included the import of biodiesel from its Sombra, Ontario facility where its wholly owned U.S. subsidiary was the importer of record and the generator of Renewable Identification Numbers (RINs).

This is the first time that Methes directly generated U.S. revenues. In the past, biodiesel produced at its Sombra, Ontario facility was sold to brokers and intermediaries that would import the biodiesel into the U.S. and resell the biodiesel to obligated parties and fuel distributors. With Methes now having the ability to import biodiesel to the U.S. and itself generate RINs, Methes can sell directly to U.S buyers, capitalize on new opportunities and improve its margins.

Nicholas Ng, President of Methes Energies, said, "This is another step forward for Methes and part of our plan to capitalize on more opportunities in the U.S. This is the first time that Methes directly generated U.S. revenues and U.S revenues will now start playing a much larger role in our overall growth strategy and enable us to expand our footprint in several states in the U.S. As for production in Sombra, things are going very well with more feedstock showing up tomorrow. In fact, we will be receiving our largest shipment by rail ever, a total of 12 railcars or over 2 million pounds of oil."

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