Press Release
January 26, 2010
Methes Energies Announces the Sale
of Eight Denami 600 Biodiesel Processors to QFI Biodiesel Inc.
New York, January 26, 2010 – Methes Energies International Ltd. announced today that its wholly-owned subsidiary, Methes Energies Canada Inc., has received an initial order for two (2) “pipe-to-pipe” Denami 600 biodiesel processors to be delivered immediately. This initial order is part of a sale and licensing agreement entered with QFI Biodiesel Inc. for a total of eight (8) units. The additional six (6) units will be delivered within the next 12 months. The production date is set to be before the end of March 2010. The total price of the transaction is approximately $ 6,800,000 USD.
“We have been working with Methes for several months now and are happy to move forward with their equipment, which we believe is the best on the market and the most indicated toward our growth strategy over the next several years. We like the Methes business model and look forward to a long relationship with them”, said Serge Quintal, President of QFI Biodiesel Inc.
Mr. John Loewen, President of Methes Energies Canada Inc., added, “Work is already under way to have QFI up and running quickly. We are anxious to see them producing biodiesel as soon as is possible because our current production can no longer meet the increasing biodiesel demand among some of our clients. I congratulate QFI and welcome them to the Methes family”.
QFI Biodiesel Inc. is located in St-Jean-sur-Richelieu, Quebec, Canada.
About Methes Energies International Ltd. (“Methes International”)
Through its two wholly-owned subsidiaries - Methes Energies Canada Inc. and Methes Energies USA Ltd. - Methes Energies International Ltd. stands as a leader in the biodiesel arena with its innovative and efficient processes that are delivered to its clientele in easy turn-key solutions. These biodiesel solutions are designed for heavy users of biodiesel and diesel fuels, traditional diesel and biodiesel fuel distributors, large scale biodiesel producers, as well as entrepreneurs wishing to start a business in a dynamic sector producing and marketing their own biodiesel.
In 2007, Methes Energy Inc. introduced the Denami 600. This state-of-the-art design is the industry’s first compact, fully automated continuous flow biodiesel processor that offers the flexibility of using a wide variety of feedstock options. We believe that the Denami 600 positions itself as the most reliable and cost effective method of producing quality top grade B100 biodiesel fuel, which meets or exceeds current ASTM standards. The Denami 600 can produce a total of 1.3 million gallons (5 million liters) per year. Additionally, the Denami 600 is one of the only commercially available fully automated compact units on the market today. Finally, Methes Energies provides its customers with an efficiency of scale, reliability and independence from the traditional petroleum business sector. More information can be found at www.methes.com.
Forward-looking Statements: This news release contains forward-looking statements related to the future financial condition and results of operations of Methes. These statements are based on current expectations and estimates about the biodiesel markets and industry in which Methes operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. Some of the factors which could cause results or events to differ materially from current expectations include but are not limited to: general economic conditions, market or business conditions; changing competitive environment; changing regulatory conditions or requirements; changing technology; and success in implementing productivity initiatives. Some of these factors are largely beyond the control of Methes. Should any factor impact Methes in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by Methes will be realized or, even if substantially realized, that they will have the expected consequences for Methes. Readers should not place undue reliance on any forward-looking statements. Further, Methes disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence. |