ME2C Environmental Issues Statement on Recently Announced Patent Litigation Settlement with Certain Defendants
Settlements Validate Patents, Sets Significant Market Value; Action to Continue Against Remaining Defendants with Legal Notice to All Infringing Utilities
Corsicana, Texas--(Newsfile Corp. - November 20, 2023) - Midwest Energy Emissions Corp. (TSXV: MEEC) (OTCQB: MEEC) ("ME2C Environmental" or the "Company"), a leading environmental technologies firm, issued a statement today on the recently announced patent litigation settlement with certain defendants.
Richard MacPherson, Chief Executive Officer of ME2C Environmental stated, "We are extremely pleased that we have been able to resolve this patent litigation with many of the defendants which action we commenced in 2019. We will continue with the litigation against the remaining defendants with a trial date to be rescheduled by the Court. As part of the settlements announced last week, one of the defendants has entered into a license agreement based on a rate of $1.00 per ton of accused coal sold during the applicable damages period which we believe establishes a proper base line in our efforts against infringers."
"Given recent successful reinforcement of our patented position, we anticipate further discussions with all coal-fired utilities operating our patented process," continued MacPherson. "The settlements thus far only pertain to the "refined coal" operations and do not cover ongoing use of our patented technologies since the end of the refined coal program. We will be seeking resolution with any and all utilities that continue to operate our patented two-part process outside of a license or supply agreement. We will continue to protect our patent claims against the remaining defendants when our trial continues in early 2024."
About ME2C® Environmental
ME2C Environmental is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME2C's leading-edge mercury emissions technologies and 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 http://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 U.S. Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities laws (collectively, "forward-looking statements"). 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 loss of major customers; dependence on availability and retention of key suppliers; changes, or lack of changes, in environmental regulations; risks related to advancements in technologies; lack of diversification in the Company's business; risks related to intellectual property, including the ability to protect intellectual property and the success of the ongoing patent litigation; competition risks; changes in demand for coal as a fuel source for electricity production; ability to retain key personnel; absence of a liquid public market for our common stock; share price volatility; and, the potential that dividends may never be declared. 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 or other forward-looking statements contained in this release can be found in ME2C Environmental's periodic filings with the Securities and Exchange Commission or Canadian securities regulators.
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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:
Jessica Butt
IR Representative
Adelaide Capital
Direct: 416-844-6202
jessica@adcap.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187975
SOURCE ME2C Environmental
Released November 20, 2023