Boston, MA 05/09/2014 (wallstreetpr) –The $23 billion renewable energy company Methes Energies International Ltd. (NASDAQ:MEIL) has announced fresh deals that it is just about to finalize with some U.S. customers. The latest deals are testimony to the strong executions within the company and successful foray into the U.S. biodiesel market.
The company provides various products and services to producers and buyers of biodiesel solutions. In the latest case, the company announced agreements that could see it supply about 40 railcars of biodiesel every month for the balance of 2014 and beyond. The latest deals involve a downstream distributor and large national aggregator whose identities have been withheld given that the deals have not been officially signed.
Renewable energy providers have a bright business future. Besides the fact that companies are competing for reputation for the deployment of environmentally friendly energy, regulatory measures are also compelling companies to adopt renewable energy for their activities in efforts to address global warming concerns. In any case, renewable energy providers also enjoy attractive incentives as their customers that choose to deploy clean power in the facilities.
As such, Methes Energies International Ltd. (NASDAQ:MEIL) is positioned for greater things and the latest opportunities opening up in the U.S. are only the tip of the iceberg.
Methes Energies International Ltd. (NASDAQ:MEIL) enjoys record import of biodiesel into the U.S. These developments give the company the ability to sell directly to the U.S. buyers besides expanding is revenue significantly.
Methes Energies International Ltd. (NASDAQ:MEIL) executives expect that the expanding position in the U.S. biodiesel market will support the company’s speedy growth in terms of more sales and capacity. According to the company’s president Nicholas Ng, there is no gainsaying that the latest developments are exciting opportunities for the company to bring its biodiesel facility at Sombra to full production capacity in the current state. However, looking ahead, the executive believe that it is just a matter of time before the increase of capacity at Sombra facility starts.
Direct sales in the U.S
Methes Energies International Ltd. (NASDAQ:MEIL) expects the direct-sale to the U.S. buyers to make it easier to attract more customers in the U.S. At the current prices, the company believes that the latest agreements have the potential of adding about $4 million per month to its biodiesel sales.