Methes Energies Provides Business Update
LAS VEGAS, NV -- (Marketwired) -- 10/30/13 -- Methes Energies
International Ltd. (NASDAQ: MEIL), a renewable energy company that
offers an array of products and services to biodiesel fuel producers,
today provided a business update on previously announced and current
Production Update - On August 14, 2013, the Company announced, via
press release, that its wholly-owned subsidiary, Methes Energies
Canada Inc. (Methes Canada), had closed on a $1,500,000 Working
Capital Facility. Over the last several weeks Methes Canada has made
good use of the facility resulting in September 2013 being the
highest production month in gallons in its history. Furthermore,
Methes Canada has already secured sufficient feedstock for the months
of October and November 2013 to produce biodiesel which it expects
will allow for its fiscal fourth quarter to be its best on record in
BQ-9000(R) Quality Management Program - Methes Canada is proud to
have initiated the process of becoming an accredited BQ-9000(R)
Producer. The program is a unique combination of the ASTM standard
for biodiesel and a quality systems program that includes sampling,
testing, storage, retain samples and shipping. The program helps
companies improve their fuel testing and greatly reduce any chance of
producing or distributing inadequate fuel. To receive accreditation,
companies must pass a rigorous review and inspection of their quality
control processes by an independent auditor. This ensures that
quality control is fully implemented.
EPA Quality Assurance Plan (QAP) - Methes Canada is currently
reviewing two proposals from two different independent third-party
QAP providers and expects to select a firm before November 15, 2013.
The U.S. Environmental Protection Agency (EPA) is set to implement a
quality assurance program for Renewable Identification Numbers (RINs)
generated on biofuels produced at foreign facilities and imported
into the U.S. as well as for U.S. facilities that generate their own
RINs. The EPA expects the program to promote greater liquidity in the
transfer and use of RINs, especially for smaller producers.
Equipment Sales - Methes Canada is currently working with several
potential clients in North America and abroad for the sales of Denami
600 and Denami 3000. Over the last several months the Company has
experienced a substantial increase in interest from Ethanol producers
from all over North America. As more Ethanol producers are now able
to extract the corn oil from their corn before converting into
Ethanol many are looking at the additional value and revenues from
converting their corn oil into biodiesel. The Company believes that
the size of its Denami 600 and 3000 are ideal as a "bolt-on" option
for most Ethanol plants in North America and abroad.
Increase Capacity in Sombra - Methes Canada has completed an internal
engineering review on the project to double capacity at its Sombra,
Ontario, Canada facility from 13 Million gallons per year (MGY) to 26
MGY. The initial report confirms that there will be no need to add
two more Denami 3000s on site in light of the fact that the two
Denami 3000s already installed will be able, once retrofitted, to
flow at double the current capacity resulting in substantial savings
to the Company. As part of the project, the Company also intends to
add a distillation column at the back end of the process to improve
quality and efficiency.
Michel G. Laporte, Chairman and CEO of Methes Energies said, "We are
pleased to provide this general business update covering several
projects that are on the go. Our focus remains on making more
biodiesel, improving efficiency and quality at our Sombra facility.
Thanks to the working capital facility, September was our best month
in production volume. The team is doing a great job and the morale is
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 recently commissioned 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.
Methes Energies International Ltd.
Michel G. Laporte
Chairman and CEO
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