Methes breaks biodiesel production record; gets QAP-B RIN status

Methes Energies International Ltd. announced that in August it has broken a company production record in terms of how much biodiesel was produced in a month at its Sombra, Ontario, facility. Methes’ manufactured 412,000 gallons of on-spec biodiesel last month, crushing its previous monthly high of 308,000 gallons last November. The company says revenue generated last month exceeds $1.3 million, excluding the potential benefit of the $1 per gallon blenders tax credit reinstatement. Methes also says it shipped a record-high 18 railcars of its own product in August, surpassing its previous high of 15 last October.

Methes also reports record-high production for the third quarter ending Aug. 31 of nearly 800,000 gallons, compared to 250,000 gallons produced in the third quarter of last year. This year’s third-quarter production generated more than $2.6 million in revenue.

“Production is going very smoothly and both our Denami 3000s are performing very well as expected,” said Nicholas Ng, president of Methes. “Our production team is doing a great job and they look forward to produce even more biodiesel in our next quarter. Over the last few months, working with our clients has been rewarding and we will continue to build on those relationships to move even more biodiesel. We expect to ship over 25 railcars in September, which would be another record high for the company. We are currently finalizing production and sales forecasts for October, November and December 2014 and expect to provide production updates on a regular basis in the future.”

The company also announced this month that it has attained QAP-B status for its renewable identification numbers (RINs) from Genscape Inc. Over the past three months, Genscape audited and validated Methes’ production and RIN generation processes to ensure the company meets all U.S. EPA requirements. Methes’ RINs are QAP-B status back to July 1.

“We are very proud of this latest achievement,” Ng said. “Over the last few months we've achieved several milestones that are making us standout of the crowd. We now have everything in place to show how committed we are to the long term success of our company for the benefit of our clients, partners, employees and shareholders.”