ME2C® Environmental Acquires New Licensee of its Patented Technology with Significant Midwest Utility
ME2C to Receive Annual Licensing Payment with Potential for Ongoing Product Supply
CORSICANA, TX, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the “Company”), a leading environmental technologies firm, announced the signing of a three-year license agreement with a utility in the Midwest to provide a non-exclusive license to certain ME2C patents for use in connection with the utility’s coal-fired power plants. The licensed patents relate to ME2C’s two-part Sorbent Enhancement Additive (SEA®) process for mercury removal from coal-fired power plants.
The license agreement includes an annual sum payable over the three-year term for use of the Company’s patented processes for mercury emissions capture. The agreement also provides ME2C Environmental the opportunity to compete for the utility’s product supply going forward.
“We are pleased to see the continued validation of our patented technology with the addition of another new licensing partner,” said Richard MacPherson, CEO of ME2C Environmental. “Through our recent outreach across the U.S. coal-fired fleet, supported by our IP law firm, Caldwell, Cassady & Curry, our license claims for our patented process of mercury capture, along with the tangible benefits that our technology provides, continue to gain recognition by the U.S. power industry. We look forward to growing our relationship as a full business partner with the opportunity to compete for the utility’s product supply in the near term.”
“We expect to continue to increase our license partners over the next 12 plus months as the industry further validates our patent claims reinforced by the incomparable benefits that we believe our technology provides. ME2C maintains a solid foundation in our core mercury emissions capture business that we expect will continue to grow through demands from our existing supply partners and new supply business from augmented license agreements,” concluded MacPherson.
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 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 Corporate Contact:
Main: 614-505-6115 x-1001
Released August 16, 2022