ME2C® Environmental Acquires New Licensee of its Patented Technology with Significant Midwest Utility

Rhea-AI Summary

Midwest Energy Emissions Corp. (MEEC) has entered a three-year license agreement with a Midwest utility, granting a non-exclusive license for its patented mercury removal technology at coal-fired power plants. The agreement includes an annual payment for the patented processes, along with the opportunity to compete for future product supply. CEO Richard MacPherson highlighted the growing validation of their technology and expressed optimism for increasing license partners over the next year, aiming for substantial growth in their mercury emissions capture business.

Positive

• Three-year licensing agreement with a Midwest utility for mercury removal technology.
• Annual payments to be received for the patented processes.
• Opportunity to compete for product supply, potentially increasing revenue.
• Expected growth in license partners and market recognition of patented technology.

Negative

• None.

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:
Stacey Hyatt
Corporate Communications
ME₂C Environmental
Main: 614-505-6115 x-1001
Direct: 404-226-4217
shyatt@me2cenvironmental.com

FAQ

What is the significance of the licensing agreement signed by MEEC?

The licensing agreement allows MEEC to receive annual payments and provides a chance to compete for product supply related to mercury removal technology.

How long is the licensing agreement between MEEC and the Midwest utility?

The licensing agreement is for a duration of three years.

What technology does MEEC's licensing agreement pertain to?

The agreement pertains to MEEC's patented Sorbent Enhancement Additive (SEA®) process for mercury removal from coal-fired power plants.

What are the expected financial benefits of the licensing agreement for MEEC?

MEEC expects annual payments over the three-year term and potential additional revenue from competing for future product supply.

How does MEEC plan to grow its business after this licensing agreement?

MEEC aims to increase license partners and leverage the validation of its patented technology to expand its market presence and revenue.