A Canadian biodiesel maker that also makes an array of products and services for biodiesel fuel producers is buying the assets of another company so it can make small and medium sized refineries. Methes Energies International Ltd. announced it intends to buy the assets of OTC Energy Technologies Inc., which includes OTC’s technologies and knowhow in 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 goal of the Company is to make small and medium size processors available to clients where large scale facilities are not feasible because of the typical high set-up costs associated with such projects, as well as the availability of biomass required to operate a facility. Methes believes that this acquisition will be a perfect match and will enhance its current technology portfolio. The focus of the Company will remain the same — to provide small and medium size solutions to clients involved in the alternative and renewable energy sector.
John Loewen, Vice President of Operations at Methes Energies said, “We are first and foremost a technology company, and we are proud to be adding to our portfolio this way… What we’ve seen at their small scale facility is truly amazing, and our goal is to quickly package and deploy turn-key solutions similar to our biodiesel processors.”
Paul Goodrow, President of OTC Energy Technologies Inc. continued, “What attracted us to Methes was their proven ability to turn innovative process designs into working, efficient production plants. We believe that the OTC technology has the potential to be a low cost producer of renewable and alternative fuels. And we believe that smaller, modular plants and low costs are not mutually exclusive… We look forward to working with Methes to rollout what we think will be a game changing business model.”
Terms of the deal were not disclosed.