Methes Energies Receives Third Payment of $300,000 CDN$

Aug. 6, 2015 9:00 am |  More About Methes Energies


LAS VEGAS, NV--(Marketwired - Aug 6, 2015) - Methes Energies International Ltd. (NASDAQ: MEIL), announced today that it has received a third payment of $300,000 Canadian Dollars (CDN$) from Drain Bros for the sale of a Denami™ 600 biodiesel processor and a PP-MEC™ pre-treatment system which is being installed in Havelock, Ontario, Canada as previously disclosed.

This third, of five-progress payments, was triggered by the fact that the Denami 600 has been fully installed at the client's facility. Over the next few weeks Methes' team, working with Drain Bros, will finalize the commissioning of the facility including the PP-MEC pre-treatment system and start making biodiesel using non-food grade corn oil. A forth progress payment of $250,000 (CDN$) will be due after receiving a positive ASTM laboratory report confirming that the biodiesel meets or exceeds the current ASTM standards.

John Loewen, COO of Methes, said, "The project is going very well and we are getting closer to commercially producing our first gallon of biodiesel using our PP-MEC pre-treatment system. We currently have many potential clients, from all over the world, waiting to come and see the PP-MEC pre-treatment system processing corn oil. This technology will make it much easier for people running not only corn oil but other types of feedstocks as well. We are confident, that once people see it work on a commercial scale, we will see several other people adding the PP-MEC pre-treatment system to their facilities."

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.

Forward-looking Statements

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.

Contacts:
Methes Energies International Ltd.
Michel G. Laporte
Chairman and CEO
702-932-9964

Marketwired (Canada)
August 6, 2015 - 9:00 AM EDT


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