Midwest Energy Emissions Corp. Announces European Licensing Agreement with Cabot Corporation
Licensing Agreement Serves to Leverage ME2C's Patented Mercury Capture Technology for Use in Coal-Fired Electric Generating Units Throughout Europe
LEWIS CENTER, OH -- (Marketwired) -- 04/17/18 -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C" or the "Company"), a leader in mercury emissions control in North America, today announced it has entered into a multi‐year European licensing agreement with Cabot Corporation(NYSE: CBT), a global specialty chemicals and performance materials company. Under the licensing agreement, Cabot Corporation ("Cabot") has exclusive access to ME2C's extensive patented technologies for the developing markets across Europe.
This European licensing agreement enhances Cabot's range of mercury removal solutions and proven processes by leveraging ME2C's unique IP portfolio. In addition to ME2C's proven two‐part mercury capture technology, Cabot will also utilize ME2C's proprietary scrubber additive technology, which provides a new addition to the extensive Cabot activated carbon product portfolio.
"This agreement provides us with a major competitive asset that further strengthens our current portfolio of mercury removal solutions, and enables us to deliver innovative solutions for a variety of complex flue-gas environments and applications," said Bart Genemans, business director EMEA region, Cabot Purification Solutions. "With this technology, coal fired utility customers can now leverage an expanded range of mercury removal solutions to help provide a lower total cost of ownership."
Cabot will leverage ME2C's patented mercury capture technology in its offerings to the European coal-fired industry as the European Union (EU) prepares for mercury capture legislation that is expected to be in effect by 2021, with initial demonstrations at several plants scheduled for summer 2018.
Europe's coal industry includes a total of 1,384 coal‐fired electric generating units (EGUs), over two times the operating units throughout the U.S. today. Poland comprises over 30% of Europe's coal industry with 538 EGUs (as of February 2018), with 30 new coal plants in the planning stage.
"With Cabot's appreciation of, and subsequent acquisition of the ME2C technologies license, our global reach is enhanced significantly," commented Richard MacPherson, CEO of Midwest Energy Emissions Corp. "The Cabot license agreement represents our first technology licensing deal outside North America, while providing a potential long‐term revenue stream with a significant global growth opportunity. We are also actively pursuing similar patent license opportunities in Asia and other key geographies around the world."
"ME2C's strategy is equally focused on growth both within as well as outside North America," continued MacPherson. "The coal industry within the U.S. is currently focused on efficiency and optimization, where our technology has proven successful. This partnership with Cabot puts us in an excellent position to offer the 'right' technology for reducing costs and increase profits for EGUs across Europe, which ultimately, we expect to contribute meaningfully to our growth over the long‐term."
About Midwest Energy Emissions Corp. (ME
Midwest Energy Emissions Corp. (OTCQB: MEEC) delivers patented and proprietary solutions and technology to the global coal‐power industry to remove mercury from power plant emissions, providing performance guarantees, and leading‐edge emissions services. The U.S. Environmental Protection Agency (EPA) MATS rule requires that all coal‐ and oil‐fired power plants in the U.S., larger than 25 mega‐watts remove roughly 90% of mercury from their emissions starting April 15, 2015. ME2C has developed patented technology and proprietary products that have been shown to achieve mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than currently used methods, while preserving the marketability of fly‐ash for beneficial use. For more information, please visit www.midwestemissions.com.
About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, masterbatches and conductive compounds, fumed silica, and aerogel. For more information on Cabot, please visit the company's website at: http://www.cabotcorp.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 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.
Chief Executive Officer
Midwest Energy Emissions Corp.
Investor Relations Contact:
MZ Group ‐ MZ North America
Source: Midwest Energy Emissions Corp.
Released April 17, 2018