SOURCE: Methes Energies International Ltd.
LAS VEGAS, NV--(Marketwired - Dec 17, 2013) - Methes Energies International Ltd. (NASDAQ: MEIL), a renewable energy company that offers an array of products and services to biodiesel fuel producers, today provides a production update for its fourth quarter ended November 30, 2013.
The Company proudly announces that its October and November production targets for the current calendar year were achieved. In fact, production in November was the highest production month in gallons in the Company's history, surpassing September and October by more than 60,000 gallons for each month. Production of biodiesel at its Sombra, Ontario facility for the months of September, October and November 2013 was higher than the total amount of biodiesel produced in all of its fiscal year 2012. As expected, our 2013 fiscal fourth quarter saw the highest quantity of gallons produced in any previous quarter in the Company's history. As a result of this tremendous production growth, Methes anticipates that it will record higher fourth-quarter revenues than any previous quarter in the Company's history.
Methes President Nicholas Ng said, "We are pleased with our fourth-quarter production numbers and are working on doing even better in 2014. We are also busy with several projects that are already drawing considerable interest and which we expect will make a big difference next year, including the possible consummation of the OTC technology acquisition for which we have entered into a letter of intent."
The Company is currently finalizing its numbers, which will be audited over the next several weeks in preparation to file its Annual Report on form 10-K for its fiscal year ended November 30, 2013.
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.
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, 2012, filed on February 25, 2013, 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.