LAS VEGAS, NV--(Marketwired - Nov 5, 2013) - Methes Energies International Ltd. (
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.