Methes Energies grants license to US company for $4 million

In Canada, Methes Energies International Ltd. announced Jan. 20 that it has granted a U.S.-based entity a nonexclusive license to use Methes’ design and software for a 3,000 liter per hour biodiesel processor to manufacture biodiesel processors for its own projects in the U.S. Methes is to receive a $4 million upfront cash payment and will be entitled to an additional $100,000 for each of the first 40 units manufactured by the licensee. Payment of the initial $4 million license fee is scheduled to be received on or before Feb. 20, which provides sufficient time for Methes to gather and package design information to be delivered to the licensee.