ME2C® Environmental Announces Technologies under Development in the Rare Earth Market
Anticipated to Dramatically Improve Production of REEs in North America
CORSICANA, TX, March 23, 2021 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the “Company”), a leading environmental technologies firm, today announced new technologies under development intended to improve the processing of rare earth elements (REEs) in North America. The Department of Energy has reported a global market for REEs valued at approximately $13.2 billion in 2019 with a growth expectation of 10.7% annually (between 2020 to 2026).
According to the Department of Energy, the U.S. currently imports all of the rare earth elements it consumes, of which approximately 80% are imported from China, the global leader in the rare earth industry. In 2018, the Department of Energy reported that the global demand for rare earth elements was approximately 150,000 tons with the U.S. demand at approximately 11%, or about 16,500 tons. Rare earth elements today are commonly used in automobile catalysts and petroleum refining catalysts, televisions, magnets, batteries, and medical devices.
“These new technologies under development in conjunction with our collaboration with Dr. Scott A. Drummond are focused on the extraction process of obtaining rare earth elements abundantly available from coal mining and the coal-fired power industry, along with mining operations. Our technologies focus on improving the cost of extracting rare earth minerals along with improving the environmental footprint of extracting those rare earth elements from their solvent state,” stated Richard MacPherson, President and CEO of ME2C Environmental. “Our technologies can be reused multiple times to isolate higher concentrations of the rare earth elements, which significantly reduces costs and limits the amount of harmful acids both used and disposed of during the extraction process. We strongly believe, after continued research and development, that this new sorbent technology will dramatically improve rare earth element production in North America. Our recovery process under development will offer significant improvements compared to technologies currently available across the industry, which now use either a liquid or heat-based approach. This more efficient manufacturing process of extracting these highly valuable elements can be used across all present major market segments and will allow the USA to better compete with China economically with significantly reduced environmental impacts.”
Continued MacPherson, “Our rare earth element technologies could be adopted by all companies involved in this field providing a lower cost production and with greater environmental benefits – regardless of the type of process and operations in place. These technologies will also allow us to perform our own rare earth extraction processes – while licensing others with this new method.”
“We are entering the pilot scale testing phase in the near future after consistently achieving very impressive test data. We look forward to bringing the results from upcoming pilot scale testing to the industry as we continue to develop what we anticipate will become a game-changing technology,” concluded MacPherson.
About ME2C® Environmental
ME2C Environmental (OTCQB: MEEC), is a leading environmental technologies company developing and 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. ME2C Environmental is a trade name of Midwest Energy Emissions Corp. For more information, please visit http://www.me2cenvironmental.com/.
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ME2C Environmental Contact:
Main: 614-505-6115 x-1001
Released March 23, 2021