Midwest Energy Emissions Corp. Announces Additional Commercial Contracting for Mercury Emissions Control
WORTHINGTON, OH -- (Marketwired) -- 02/25/14 -- Midwest Energy Emissions Corporation (OTCQB: MEEC) ("ME2C") announced today that its proprietary mercury emissions control technology has been chosen by a large coal-power cooperative in the Southwest U.S.. The company estimates that this multi-year supply contract will generate revenues of $2 million annually starting in early 2015, and with initial system installation revenues in 2014 of $2.4 million.
The U.S. Environmental Protection Agency's (EPA) Mercury and Air Toxic Standards (MATS) rule requires that coal- and oil-fired power plants in the U.S. larger than 25 megawatts remove roughly 90% of mercury from their emissions beginning April 16, 2015, with limited extensions granted for compliance in April 2016. ME2C employs patented technology that has been shown to achieve mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than currently used methods.
CEO Alan Kelley stated, "We are excited to announce that another electric power provider has chosen ME2C for removing mercury emissions to comply with MATS regulations. This further demonstrates the emergence of our best in class technology and the well-respected work that our team has put forth over the years."
Kelley continued, "We are very confident in the prospects of business growth over the coming months and years as utilities are required to comply with MATS. Our solution will reliably deliver on a value proposition unlike any other in the market today. With a critical focus on execution and service, we look forward to rapid adoption and significant revenue growth for our shareholders."
About Midwest Energy Emissions Corp. (ME2C) Midwest Energy Emissions Corp. delivers cost effective mercury capture technologies to power plants and other large industrial coal-burning units in the United States and Canada. The Company's proprietary technology allows customers to meet the new, highly restrictive standards the U.S. EPA has set for mercury emissions, in an effective and economical manner with the least disruption to their current equipment and on-going operations. For more information, please refer to the Company's website at www.midwestemissions.com.
Safe Harbor Statement: With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the gain or loss of a major customer, change in environmental regulations, disruption in supply of materials, a significant change in general economic conditions in any of the regions where our customer utilities might experience significant changes in electric demand, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, failure to obtain adequate working capital to execute the business plan and any major litigation regarding the Company. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements contained in this release can be found in the Company's periodic filings with the Securities and Exchange Commission.
Keith R. McGee Director of Investor Relations Midwest Energy Emissions Corp. 614-505-6115 kmcgee@midwestemissions.com
Source: Midwest Energy Emissions Corp.
Released February 25, 2014