Midwest Energy Emissions Corp. and AEP Announce Signing of an Agreement
CORSICANA, TX, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C") today announced the signing of an agreement with AEP Generation Resources, Inc., Southwestern Electric Power Co., and AEP Texas Inc. (collectively, “AEP”) to provide AEP a non-exclusive license to certain ME2C patents for use in connection with AEP’s coal-fired power plants. Such patents licensed to AEP relate to ME2C’s two-part Sorbent Enhancement Additive (SEA®) process for mercury removal from coal-fired power plants.
As a result of the agreement being announced today, ME2C has agreed to dismiss all claims brought against AEP in the patent litigation initiated by ME2C, and AEP has agreed to withdraw from petitions for Inter Partes Review which had been filed with the United States Patent and Trademark Office pertaining to such patents. These proceedings will continue with respect to the other parties involved.
Richard MacPherson, President and CEO of ME2C, stated “We believe this agreement is a testament to AEP’s recognition of our patented technologies and the significant value that our technologies will provide to their coal-fired plants. We look forward to growing a strong business relationship with AEP in the coming years.”
“With a strong infrastructure,” continued MacPherson, “we have the capacity and resources to accommodate organic growth in our supply business moving into 2021.”
About Midwest Energy Emissions Corp. (ME2C®)
Midwest Energy Emissions Corp. (OTCQB: MEEC) is a leading environmental technologies company delivering patented and proprietary solutions to the global power industry. ME2C’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. For more information, please visit 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. 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. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. ME2C 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’s periodic filings with the Securities and Exchange Commission.
Midwest Energy Emissions Corp.
Main: 614-505-6115 x-1001
Released December 1, 2020