Methes Energies Surging as Renewable Energy Industry Continues to Grow
Over the past few years, companies in the renewable energy industry have gained immense popularity with investors as driven entrepreneurs continue to seek out possible replacements for conventional diesel fuel. With expectations that the price of energy will continue to rise in the future, innovative companies that can create new solutions should reap significant rewards. One company that is inching its way closer to becoming a global leader in the renewable energy industry is Methes Energies International (NASDAQ:MEIL).
Methes Energies International 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, compact, fully automated state-of-the-art and continuous flow that can run on a wide variety of feedstocks. The company sells biodiesel fuel, using its own technology, to customers in the U.S. and Canada and provides multiple biodiesel fuel solutions to customers. The company’s other services include:
- Consultation and Operational Services
- Biodiesel Sales and Purchases
- Troubleshooting Services
- Toll and Off-Spec Biodiesel Production
Shares of Methes Energies have risen by 15 percent over the past few weeks after the company announced its highest monthly level of shipments in 2013. During the month of October, Methes Energies shipped out 18 rail cars from its Sombra, Ontario biodiesel facility. This shipment totaled over 485,000 gallons. This shipment is more than double the previous high of 8 rail cars which was completed in April. The record shipment in October can be attributed to the availability of a $1.5 million Working Capital Facility that was established in early August. This funding will allow the company’s Sombra, Ontario manufacturing plant to continue increasing output for the foreseeable future. Based on the current projections, Methes Energies should be able to produce as much biodiesel in the fourth-quarter 2013 as it did for all of 2012.