Midwest Energy Emissions Corp. Secures Multi-Year Contract Extension Worth Approximately $1M Annually with Utility Customer
LEWIS CENTER, OH, July 31, 2019 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C" or the "Company"), a leader in mercury emissions control in North America, announced today that it has signed a multi-year contract extension with a long-term customer. This is the third, two-year contract extension with this customer and expected to generate approximately $1M annually in product sales utilizing the Company’s patented, two-part Sorbent Enhancement Additive (SEA®) process.
“We are pleased to continue our relationship with this customer who has been a solid supporter of the SEA® technologies and one of our earliest customer contracts,” stated Richard MacPherson, President and CEO of ME2C. “Utilizing our SEA® process, the plant has maintained full MATS compliance since 2015. This contract extension includes a license to operate our patented SEA® process and represents, we believe, this utility’s confidence in our innovative, patented technologies.”
MacPherson continued, “Through the remainder of 2019, we are working to drive shareholder value from additional contracts that we believe can be secured with USA-based and international customers currently in our pipeline, as well as expansions with current customers who are seeking to utilize our SEA® mercury capture process for other boilers in their fleet.”
The Company's SEA® technologies help clients achieve and remain in full compliance with all applicable state and federal mercury compliance rules. Key advantages of the Company’s SEA® technologies include improved mercury oxidation and increased sorbent reactivity, improving mercury capture while using far less sorbent, and minimized ESP particulate by using lower amounts of sorbent overall as compared to all other approaches.
About Midwest Energy Emissions Corp. (ME2C®)
Midwest Energy Emissions Corp. (OTCQB: MEEC) delivers patented and proprietary solutions to the global coal-power industry to remove mercury from power plant emissions, providing performance guarantees, and leading-edge emissions services. ME2C has developed patented technology and proprietary products that have been shown to achieve mercury removal at a significantly lower cost and with less operational impact than currently used methods, while maintaining and/or increasing unit output and preserving the marketability of fly-ash for beneficial use. For more information, please visit www.midwestemissions.com.
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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 the Company. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company 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 the Company's periodic filings with the Securities and Exchange Commission.
Released July 31, 2019