Methes Energies Canada Inc. Receives U.S. EPA Approval as Foreign Renewable Fuel Producer
October 29 2012 - 6:07AM
Business Wire
Methes Energies International Ltd. (NASDAQ:
MEILU), a renewable energy company that offers an array of products
and services to a network of biodiesel fuel producers, announces
that its wholly-owned subsidiary, Methes Energies Canada Inc., has
been approved by the U.S. Environmental Protection Agency ("EPA")
as a Foreign Renewable Fuel Producer, making the biodiesel produced
at its Sombra facility in Ontario, Canada, eligible for export to
the United States.
Obtaining this approval from the EPA enables
Methes Energies to sell its biodiesel into the U.S., and provides
its U.S. importer the ability to generate Renewable Identification
Numbers ("RIN"). RINs are used in the U.S. by obligated parties to
comply with certain obligations under the Renewable Fuel Standard 2
(“RFS2”).
Michel G. Laporte, Chairman and CEO of Methes
Energies International Ltd. said, "Achieving approval from the EPA
is an important milestone for our company, as we can now sell the
biodiesel produced at our Sombra facility to customers in the
United States. Having recently commissioned our biodiesel facility
in Sombra, we look forward to beginning full-scale commercial
operation there, and participating in the growth of the U.S. and
Canadian biodiesel industries."
In 2010, the EPA implemented Renewable Fuel
Standard 2, which stipulated volume requirements for the amount of
biomass-based diesel that must be utilized in the U.S. each year.
The RFS2 program requires domestic use of one billion gallons of
biodiesel in 2012 and 1.28 billion gallons in 2013. Under RFS2,
obligated parties, including petroleum refiners and fuel importers,
must show compliance with these standards.
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 Registration Statement on Form S-1, filed June 22,
2012, 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.
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