Methes Energies International Ltd. Acquires Florida-based EarthFriendly Products, Inc.
Rhea-AI Summary
Methes Energies International Ltd. has successfully acquired EarthFriendly Products Inc., a Florida-based manufacturer of bio-lubricants like b2 biOil. This acquisition aims to enhance Methes' bio-renewable solutions and strengthen its market presence in the growing bio-lubricant industry. The bio-lubricant market is projected to reach $4.26 billion by 2029, with a CAGR of 4.7% from 2022 to 2029.
Carol Loch, former President of EarthFriendly Products, now serves as Chairwoman and CEO of Methes, emphasizing the company's commitment to providing environmentally friendly and high-performance products.
AI-generated analysis. Not financial advice.
Positive
- Acquisition of EarthFriendly Products enhances Methes' product offerings in bio-lubricants.
- Strategic expansion into a market projected to grow to $4.26 billion by 2029.
Negative
- None.
News Market Reaction – MEIL
On the day this news was published, MEIL gained 48.56%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LAS VEGAS, NV / ACCESSWIRE / February 22, 2023 / Methes Energies International Ltd. ("Methes" - http://www.methes.com) announced today that it has finalized the acquisition of Celebration, Florida based EarthFriendly Products Inc., the manufacturer and marketer of b2 biOil and other bio-lubricants. This acquisition will combine efforts and build upon Methes' current platform in which to launch an increased assortment of bio-renewable solutions.
"After an intensive three-year search to find a synergistic partner to continue promoting our bio-renewable solutions while bolstering shareholder value, I am pleased to announce this seamless transition with EarthFriendly Products;" said Michel G. Laporte, past Chairman and CEO of Methes. "Their branding and go-to-market strategies will help the Company further penetrate the bio-lubricant marketplace within multiple channels."
According to FORTUNE Business Insights, the bio-lubricant marketplace is to reach
"We are delighted to finalize this transaction and expand our environmentally charged agenda;" said Carol Loch, President of EarthFriendly Products Inc., now appointed Chairwoman and CEO of Methes Energies International Ltd. She added; "Environmentally concerned and socially responsible consumers and customers alike should not have to sacrifice value or performance when selecting an earth friendlier product over their traditional product choices…as it is our mission to make our GREEN choices a logical choice!"
ABOUT
Methes Energies International Ltd., which trades under the symbol "MEIL" on OTC Markets (https://www.otcmarkets.com/stock/MEIL/quote), is a totally green "CLEAN TECH" renewable energy company that manufactures and markets an assortment of bio-lubricants, by combining domestically sourced farm grown bio-derived feedstocks with proprietary technologies for superior performance, all molded around and supporting the four ideologies of being GREEN: renewable, biodegradable, recyclable and non-toxic (earth-friendly).
FORWARD LOOKING STATEMENTS
This press release may contain forward-looking statements (Safe Harbor Statements) covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe;" and, similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
CONTACT:
James Ray
goodkarmaray@gmail.com
602 315-4995
SOURCE: Methes Energies International Ltd.
View source version on accesswire.com:
https://www.accesswire.com/740244/Methes-Energies-International-Ltd-Acquires-Florida-based-EarthFriendly-Products-Inc