ME2C® Environmental Adds Significant Multi-Year Supply Business with Current Utility Licensee
Company to Receive New Multi-Year Supply Business
CORSICANA, TX, July 15, 2021 (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 multi-year supply business with a coal-fired power plant located in the Midwest, which power plant is part of the fleet of a large utility based in the Southwest region of the U.S.
This incremental supply business was gained after testing was completed at the above-mentioned power plant. The utility, which has been a long-standing customer, signed a license agreement in 2020 to provide them a non-exclusive license to the Company’s patented mercury capture technology and to facilitate the parties’ then ongoing business relationship. The additional supply business being announced today has an expected multi-million-dollar revenue value per year.
“We are pleased that this major utility, who entered into a license agreement last year, has elected to augment its business as a direct supply customer with additional supply business for another plant in its fleet after completing requisite testing at this plant,” stated Richard MacPherson, Chief Executive Officer of ME2C Environmental. “This utility has chosen to further enhance their operations with our customized sorbent supply along with the license to operate.”
Continued MacPherson, “As we gain recognition for the value of our patented technologies, we look forward to broadening the reach of our core business in mercury emissions capture across the U.S. coal-fired fleet. Any utility working with us directly receives a license to operate the patented SEA® technology and gains the full support of our expertise in operations and R&D, which we believe will provide superior benefits and bottom-line improvements.
This major utility was one of the first to enter into a license agreement and now the first to extend their agreement to include additional direct supply business. As we move through the next several months, we expect to continue to grow our supply business with our licensees,” 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 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:
Main: 614-505-6115 x-1001
Released July 15, 2021