Fiscal Q4 production shatters records for Canadian biodiesel firm
Biodiesel firm Methes Energies International Ltd. announced that its October and November production targets for 2013 were achieved and, in fact, November was the highest production month in the company’s history, surpassing September and October by more than 60,000 gallons for each month.
Biodiesel production at its Sombra, Ontario, Canada, facility for September, October and November was greater than its production for all of fiscal year 2012. Its 2013 fiscal fourth quarter saw the most gallons produced compared to any previous quarter in Methes’ history. As a result, Methes anticipates recording its highest fourth‐quarter revenues ever.
“We are pleased with our fourth‐quarter production numbers and are working on doing even better in 2014,” said Methes President Nicholas Ng. “We are also busy with several projects that are already drawing considerable interest and which we expect will make a big difference next year, including the possible consummation of the OTC technology acquisition for which we have entered into a letter of intent.”
The company is finalizing its numbers, which will be audited over the next several weeks in preparation to file its annual report on form 10‐K for its fiscal year ending Nov. 30.