MEEC - ME2C Environmental Gains Significant New Supply Business with Major U.S. Utility Patented Mercury Emissions Technology Licensee
New Supply Business with a Licensee Validates Company’s Momentum Across U.S. Coal-Fired Market
Corsicana, TX, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental " or the "Company"), a leading environmental technologies firm, announced today that it has secured new supply business with one of the largest coal-powered utilities in the U.S. This major new utility supply customer entered into a license agreement with the Company in 2021 and has now agreed to a direct one-year supply order with ME 2 C Environmental to purchase its custom sorbents valued at approximately $2 million for 2022. The supply order, which is for one of the utility’s power plants in the Southwest, includes the sale and installation of the Company’s patented engineering system, proprietary sorbent-feed equipment used with new customers. ME 2 C will supply this coal-fired utility customer with its SEA ® , or Sorbent Enhancement Additive, system to help the utility meet mercury emissions capture and compliance requirements.
" This significant utility was issued a license to operate our patented process in early 2021,” stated Richard MacPherson, Chief Executive Officer of ME 2 C Environmental. “Working directly with us as a supplier, the utility will gain further benefits from our expertise in mercury capture, including plant optimizations and efficiencies. While the earlier license agreement with this utility validated our patent position, we believe this acceptance of this significant supply order is a strong testament to our competitive market position.”
MacPherson added, “Through our business-first approach, this utility has gained a strategic business partner in ME 2 C. This new business will be supported by the commissioning of our batch plant in Texarkana, an innovative facility that will support anticipated new supply business moving through this year. We are excited to have gained a new supply partner as we enter into a strong 2022 with a new significant recurring revenue stream that will strengthen our bottom-line.”
About ME 2 C ® Environmental
ME 2 C Environmental is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME 2 C’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. ME 2 C 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 ME 2 C Environmental. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. ME 2 C 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 ME 2 C Environmental’s periodic filings with the Securities and Exchange Commission.
ME 2 C Environmental Contact:
Stacey Hyatt
Corporate Communications
ME 2 C Environmental
Main: 614-505-6115 x-1001
Direct: 404-226-4217
shyatt@me2cenvironmental.com
Investor Relations Contact:
Kevin McGrath
Managing Director
TraDigital IR
Tel. 646.418.7002
kevin@tradigitalir.com