Methes Energies Ships Out a Record of 18 Rail Cars of Biodiesel in October 2013
LAS VEGAS, NV -- (Marketwired) -- 11/05/13 -- 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 18 rail cars were shipped out of its Sombra,
Ontario biodiesel facility in October, 2013 for a total of over
485,000 gallons. This is the highest monthly level of shipment this
year achieved by the Company and surpasses the previous monthly high
of 8 rail cars in April 2013.
The increase in production and sales are due mainly to the
availability of a working capital facility that was set up several
weeks ago. Methes Energies has begun discussion with the current
lender to increase the facility to allow producing even more
biodiesel. At the current run-rate, the Company is well on track to
produce as much biodiesel in the fourth quarter, ending November 30th
2013 than the entire 2012 fiscal year.
Nicholas Ng, President of Methes Energies said, "We hope to continue
the current growth rate for the foreseeable future as we continue to
have record months in production. Our goal is to leverage on this
momentum and produce even more biodiesel in November. We enjoy a
great working relationship with our financial partner and as they
continue to see our success, we are confident that they will assist
us in maintaining our growth rate."
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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