Methes Energies Applauds EPA's Announcement of Increase in Required Biodiesel Use
LAS VEGAS, NV / ACCESSWIRE / June 1, 2015 / Methes Energies International Ltd. (NASDAQ: MEIL), today commented on the announcement made last Friday by the U.S. Environmental Protection Agency (EPA) about the long-awaited proposal to establish Renewable Volume Obligation (RVO) for biodiesel as part of the Renewable Fuel Standard (RFS). The announcement calls for a large increase in RVO, compared to the EPA's initial draft in November 2013. The proposal, which is subject to public comment and possible further increase in RVO until finalized later this year, would establish the following minimum volumes for biodiesel:
2014 - 1.63 Billion gallons
2015 - 1.7 Billion gallons
2016 - 1.8 Billion gallons
2017 - 1.9 Billion gallons
Nicholas Ng, President of Methes said, "We applaud and thank the EPA for their renewed and strong commitment to the biodiesel industry. This is very positive news for the industry and it should get production back on track. It is a significant turnaround from previous draft and should pave the way for a healthy biodiesel market in the coming years. The biodiesel industry has proven that it can meet the demand and with this increase we expect more investments to flow into new facilities as well as additional capacity at existing plants, which may promote Denami(R) sales. This should also push more ethanol producers to produce biodiesel using their corn oil, which could also help promote sales of our PP-MEC catalyst."
Also, Methes will be present at the International Fuel Ethanol Workshop and Expo June 1-4, 2015 in Minneapolis, MN. Our team will be promoting our technology portfolio including our new PP-MEC pre-treatment system. The event is the largest gathering of ethanol producers in the world. You can meet with us at booth # 1227.
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 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, 2014, filed on March 11, 2015, 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.
Methes Energies International Ltd.
Michel G. Laporte, Chairman and CEO
SOURCE: Methes Energies International Ltd.