LAS VEGAS--(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.