Methes finalizes high-volume biodiesel delivery to US distributor
Methes Energies International Ltd. announced it is finalizing arrangements with a large national aggregator and a downstream distributor in the U.S. to supply up to 40 railcars of biodiesel per month, the equivalent of up to 1 million gallons per month, through at least the rest of the year.
Methes Energies is now qualified to be an importer of record of biodiesel into the U.S. and to itself generate renewable identification numbers (RINs) in the U.S. This will provide better margins and give Methes Energies the ability to sell directly to U.S. buyers.
"We're very excited about the opportunity to bring our Sombra facility to full current production capacity," said Nicholas Ng, president of Methes Energies. "At current prices these new arrangements can add up to $4 million per month to our biodiesel sales. Also, the fact that we can now sell directly to U.S. buyers will make things much easier for us and enhance our ability to attract additional U.S. customers. This might get us to increase capacity in Sombra sooner rather than later."