Methes Energies closes on $1.25 million direct placement

In Nevada, Methes Energies International Ltd. announced that it has closed on a $1.25 million registered direct placement with a small group of institutional investors. Chardan Capital Markets, LLC, acted as the sole placement agent for the transaction.

The additional capital will allow the company to get into production of Epoxidized Soybean Oil and Natural Polyol, each of which can generate meaningful sales and substantial gross profit margins. Epoxidized Soybean Oil and Natural Polyol can be produced at their Sombra plant with their existing assets.