FOR IMMEDIATE RELEASE
METHES ENERGIES COMPLETES ITS FIRST BIODIESEL SALE TRANSACTION IN THE UNITED STATES
LAS VEGAS, NV, July 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 stateâ
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