ME2C Commemorates Acquisition of Full Patent Rights from the EERC Foundation
May 24, 2017
Leaders from Midwest Energy Emissions Corp. met with board members of the Energy & Environmental Research Center Foundation (EERCF) in Grand Forks, North Dakota, to commemorate the acquisition of all patent rights for ME2C's Sorbent Enhancement Additive (SEATM) mercury emissions control technology from the EERCF, an organization that works to provide innovative solutions to the world’s energy and environmental challenges. ME2C acquired the rights for the price of $2.5 million and 925,000 shares of common stock in ME2C.
Richard MacPherson, President and CEO of ME2C, stated “We are proud to have achieved this acquisition, which covers our proprietary two-part process for mercury control, MacPherson said. “The patents provide us with additional growth and revenue-generating opportunities throughout North America, and we are looking forward to continuing to deliver first-class technology to our clients.”
ME2C’s holistic approach and patented technology is designed to provide coal fired power plant operators the ability to meet any and all environmental requirements as required by law. ME2C’s team of experts evaluates individual power plants to offer customized solutions for mercury emissions capture. ME2C’s approach increases the efficiency of operations, lowering costs for the utility, while eliminating any balance of plant issues. Prior to the acquisition, ME2C maintained an exclusive, worldwide license to the technology since 2009.
The SEATM Technology was originally developed by the University of North Dakota Energy & Environmental Research Center (EERC).
“As long-time partners of ME2C, we are pleased to have witnessed their growth firsthand and the industry’s positive response to their innovative technology,” said Tom Erickson, EERC CEO. “ME2C’s continued success furthers a key goal of the EERC, and the EERCF, to develop market-based clean air solutions. This technology goes a long way in helping coal fired utilities improve their environmental performance in a cost-effective manner.”
Mr. MacPherson concluded, “This acquisition positions ME2C perfectly to continue its growth across North America, including the licensing of systems using a two-part process here in the United States and Canada.”