Midwest Energy Emissions Corp. Announces a New Supply Agreement Valued at $7.5M+ with a Large Midwest Utility Fleet
CORSICANA, TX, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C") a leading environmental technologies firm, announced today the signing of a new, four-year supply agreement with a large utility located in the Southwest. ME2C will supply its patented two-part Sorbent Enhancement Additive (SEA®) process under this new supply agreement beginning immediately. The agreement has a minimum expected value of $7.5 million or greater over the term.
Richard MacPherson, President and CEO of ME2C, stated “We are pleased to enter into this long-term supply and service arrangement under this new contract. With typical contracts in the two or three-year range, this four-year agreement with an extension option is a testament to ME2C’s supply capabilities. Consistent results have provided worthy recognition of our patented technologies. We look forward to growing our renewed relationship with this customer and expanding our supply and services across their fleet over the next several years with this contract.
“Clean coal and other ESG (environmental, social and governance) technologies, such as ours, will remain relevant and likely increase through the next decade,” continued MacPherson. “Our technologies are currently used widely across the U.S. coal-fired fleet. Longer term supply agreements with new and existing plants are expected to grow our business through our patented technologies across the industry.”
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 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 emissions 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.
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. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. ME2C 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’s periodic filings with the Securities and Exchange Commission.
Midwest Energy Emissions Corp.
Main: 614-505-6115 x-1001
Released September 30, 2020