Press Release
March 16, 2010
Methes Energies Announces the Sale
of One Denami 600 Biodiesel Processors to Drain Bros. of Lakefield, Ontario
New York, March 16, 2010– Methes Energies International Ltd. announced today that its wholly-owned subsidiary, Methes Energies Canada Inc., has received an order for one (1) “pipe-to-pipe” Denami 600 biodiesel processor to be delivered 16 weeks after confirmation by the Federal Government of Canada of Drain Bros’ eligibility to the ecoENERGY Biofuels Program.
The unit will be used to convert corn oil produced at a local ethanol facility into biodiesel. Drain Bros has indicated that the facility will eventually produce enough corn oil for a second Denami 600 to be added at the same location at a later date. The transaction represents a total amount of $ 1,154,500 USD.
“Since day one, the Methes team has been very helpful, particularly with the testing of our corn oil. With a comprehensive experience with biodiesel, they were able to present us with a complete and cost-effective solution that made sense”, said Darrel Drain, President of Drain Bros.
Mr. John Loewen, President of Methes Energies Canada Inc., added, “They have a great project that, coupled with our Denami 600, will allow them the opportunity to easily expand. To add a biodiesel component to an ethanol plant makes sense and maximizes the use of all resources on site. We are happy to see them join the Methes family and wish them all of the best”.
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. |