ME2C® Environmental Gains Additional Supply Business with Large Utility Customer, Patented Mercury Emissions Technology Licensee
Second Plant Location with Major Utility Gained as a Supply Customer After Issuing License to Operate
CORSICANA, TX, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the “Company”), a leading environmental technologies firm, today announced that the Company has secured new supply business with a licensee of the Company’s patented Sorbent Enhancement Additive (SEA®) technology for mercury emissions capture.
The new supply business expected to continue through 2022 was gained after certain testing was completed at one of the utility’s power plants located in the Midwest. The utility entered into a license agreement with the Company in 2020 that would allow continued operation of the Company’s patented mercury capture technologies. In mid-2021, a new supply contract for a plant in the Midwest was announced with this utility. This additional supply business being announced today is the second new plant location under this utility’s fleet to become a direct product supply customer of ME2C in addition to the utility’s plant which had already been a direct supply customer when the license agreement was signed in 2020.
“Since partnering with this major utility as a license partner of our mercury emissions technologies, we have completed product testing to gain additional supply business,” stated Richard MacPherson, Chief Executive Officer of ME2C Environmental. “Adopting a business-first approach across the coal-fired industry, a license to operate our patented technologies allows for continued operations of our innovative approach to mercury emissions capture. Working with us directly as a supply customer provides the plant with additional measurable benefits and bottom-line operational improvements.”
Continued MacPherson, “This new plant location operated by this significant power producer represents the second “win” toward our efforts in monetizing the value of our patents. This major utility was one of the first to enter into a license agreement in 2020 and the first to extend their agreement with one other plant announced as a supply customer in mid-2021. This is the second plant location at this utility to augment their license to operate with direct product supply of our patented SEA technology.
“Through the next year, we expect to grow our supply business with our utilities currently operating under a license agreement, as well as enhance our strong customer base with additional license and supply partners,” concluded MacPherson.
About ME2C® Environmental
ME2C Environmental is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME2C Environmental’s leading-edge services have been shown to achieve emissions removal at a significantly lower cost and with less operational impact than currently used methods, while maintaining and/or increasing power plant output and preserving the marketability of byproducts for beneficial use. ME2C Environmental is a trade name of Midwest Energy Emissions Corp. For more information, please visit www.me2cenvironmental.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. Forward-looking statements are generally identified by using words such as "anticipate," "believe," "plan," "expect," "intend," "will," and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. 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, capacity factor fluctuations of power plant operations and power demands, 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, availability of capital and any major litigation regarding ME2C Environmental. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. ME2C Environmental 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 ME2C Environmental’s periodic filings with the Securities and Exchange Commission.
ME2C Environmental Contact:
Stacey Hyatt
Corporate Communications
ME2C Environmental
Main: 614-505-6115 x-1001
Direct: 404-226-4217
shyatt@me2cenvironmental.com
Investor Relations Contact:
Kevin McGrath
Managing Director
TraDigital IR
Tel: 646-418-7002
kevin@tradigitalir.com
Released February 1, 2022