Methes Energies Reports Fiscal Year 2012 Results
(firmenpresse) - LAS VEGAS, NV -- (Marketwire) -- 02/26/13 -- Methes Energies International Ltd. (NASDAQ: MEIL), a renewable energy company that offers an array of products and services to a network of biodiesel fuel producers, on February 25, 2012 reported its operating results for the year ended November 30, 2012.
Revenue totaled approximately $6.5 million for the year ended November 30, 2012 compared to $11.8 million in the year ended November 30, 2011. Net loss was approximately $3.97 million or $0.67 per common share in 2012, compared to a net loss of approximately $811,000 or $0.15 per common share in 2011.
Installed two Denami 3000 biodiesel processors at the Sombra facility for a total capacity of 13 million gallons per year.
Successfully completed an IPO with a listing on NASDAQ Capital Market.
The Sombra facility received approval from the EPA and became an approved foreign biodiesel producing facility.
Increased our work force from 12 employees to over 30 employees.
Increased our rail car fleet from 18 to 28 rail cars.
Successfully completed a Private Placement raising net proceeds of approximately $ 1.5 million.
Signed contract for delivery of 50 rail cars in early 2013.
Michel G. Laporte, Methes Energies' Chairman and CEO, said, "We accomplished a lot during fiscal year 2012 with a number of initiatives going on. The most important milestones were the commissioning of our Sombra facility and the approval by the EPA as a Foreign Biodiesel Producer for biodiesel produced in Sombra, although we did not begin full scale production at Sombra in fiscal 2012. We are now well positioned to take full advantage of a strong biodiesel market so far in 2013."
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 .
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, risks and uncertainties discussed under the section entitled "Risk Factors" in our Registration Statement on Form S-1, filed June 22, 2012, as amended, and the Company's filings with Securities and Exchange Commission from time to time which are available at the U.S. Securities and Exchange Commission website at . 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.
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Datum: 26.02.2013 - 08:00 Uhr
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