Methes Energies Ships Out a Record of 18 Rail Cars of Biodiesel in October 2013
LAS VEGAS, NV, Nov 05, 2013 (Marketwired via COMTEX) — 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.