Oil & Gas Refining & Marketing M&A » By The Online Investor Staff, updated Tue., Apr. 20, 3:38 AM
Recent mergers and acquisitions in the Oil & Gas Refining & Marketing M&A category.
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Slide #22. Methes Energies — Assets of OTC Energy Technologies Inc.
Acquirer:
Methes Energies (MEIL)
Acquiree:
Assets of OTC Energy Technologies Inc.
Details:
Methes Energies International Ltd. (NASDAQ: MEIL), a renewable energy company that offers an array of products and services to biodiesel fuel producers, today announced that it has signed a Letter of Intent to acquire the assets of OTC Energy Technologies Inc. ("OTC"), including all of OTC's technologies and knowhow relating to the conversion of several types of biomass into a chemical quality syngas which can be converted into renewable alcohols such as ethanol and methanol, renewable hydrocarbons such as jet fuel and gasoline. The assets also include an existing pipeline of potential clients that Methes intends to quickly pursue. The addition of OTC technologies to Methes' portfolio of products will allow Methes to compete more fully in the multi-billion dollar renewable fuels market, and to start to compete in the multi-hundred billion dollar general transportation fuels market.
Methes Energies International is a renewable energy company that provides products and services to biodiesel fuel producers. Co. also markets and sells in the U.S. and Canada biodiesel fuel produced at its small-scale production and demonstration facility in Mississauga, Ontario, Canada, and at its intermediate scale biodiesel production in Sombra, Ontario, Canada. Co. also sells feedstock to network of biodiesel producers, sells their output in the U.S. and Canada, provides them with software used to operate and control their processors, remotely monitors the quality and characteristics of their output, upgrades and repairs their processors, and advises them on adjusting their processors.
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