Press Release
November 6, 2007
Methes Energies Canada Inc. relocates to New and Larger Office
New York, November 6, 2007 – Methes Energies International Ltd. announced today that its wholly-owned subsidiary, Methes Energies Canada Inc., will soon be moving to a new 6,300 square foot office complex, less than a mile from its current location. Scheduled to open in January 2008, the new Methes office will be located at 4170 Sladeview Crescent in Mississauga, Ontario.
The new location will serve as a corporate office for Methes’ day-to-day business activities including the monitoring of the Denami 600s installed at clients sites, as well as provide laboratory testing and feedstock validation services. With enough room to staff up to 15 people the office will also include a new laboratory, in conjunction with a training facility for clients and distributors.
The new office will also house one Methes Denami 600 biodiesel processor capable of producing 1.3 million gallons (5 million liters) of biodiesel per year. The company intends to not only use the new location as a show case facility for its Denami 600, but also as a state-of-the-art biodiesel production site designed to serve local clients. This alone will generate substantial revenues for the company.
“The additional space will provide greater efficiency in how we serve clients and deliver to our management team and employees an office environment that complements the vision and professionalism of the company”, said Michel G. Laporte, President of Methes Energies International Ltd. “To have an office where we can show the Denami 600 produce biodiesel around the clock and to be able to sell our own Methes biodiesel will be an amazing accomplishment for this young company - the whole team is looking forward to move in the new office.”
In 2008, the new biodiesel production facility will become an additional profit center for Methes, which is expected to generate approximately $ 348,000 CDN dollars in net revenues. Its full production is expected to start in the 3rd quarter of 2008.
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 seeking the independence of producing their own fuel.
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. |