On Monday morning,
Tip.us sent out its weekly newsletter featuring Methes Energies International
Ltd. (NASDAQ: MEIL), a company that is best known for its high-quality
biodiesel processors and systems. The company’s processors are flexible and can
use a variety of virgin vegetable oils, used vegetable oil and rendered animal
fat feedstock, allowing operators to take advantage of feedstock buying
opportunities. Methes Energies also markets and sells high-quality biodiesel
fuel produced at its 1.3 MGY (5 MLY) showcase production facility in
Mississauga, Ontario, and at its 13 MGY (50 MLY) facility in Sombra, Ontario,
to customers in the U.S. and Canada.
Within the first
trading day, MEIL surged 12.24% from an open of $2.45 to a close of $2.66.
Later in the week, Methes Energies International issued a press release
announcing the finalization of agreements with a large national aggregator and
a downstream distributor in the United States to supply up to 40 railcars of
biodiesel per month or the equivalent of up to 1 million gallons per month for
the rest of 2014 and beyond. The company is now qualified to be an importer of
record of biodiesel into the U.S. and to itself generate RIN’s (Renewable
Identification Numbers) in the U.S.
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