ME2C® Environmental Announces New Affiliation with Eleclear Technologies LLC

Rhea-AI Summary

Midwest Energy Emissions Corp. (MEEC) announced its collaboration in creating Eleclear Technologies, LLC, aiming for advancements in water and soil remediation. The company is set to invest $1.2 million in a 70/30 funding arrangement with Dr. Scott A. Drummond. MEEC will guide technical and research directions for the emerging technologies, transitioning to pilot-scale testing soon. CEO Richard MacPherson emphasized the significance of this collaboration in addressing U.S. environmental challenges through innovative and cost-effective solutions.

Positive

• Formation of Eleclear Technologies to advance environmental solutions.
• Initial investment of $1.2 million to bolster research and development.
• Strategic partnership with Dr. Scott A. Drummond for technical guidance.
• Focus on pilot-scale testing for new remediation technologies.

Negative

• None.

The New Firm is Developing New Technologies for Water & Soil Remediation

CORSICANA, TX, March 18, 2021 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME₂C Environmental" or the “Company”), a leading environmental technologies firm, today announced its participation in the creation of a new technologies firm, Eleclear Technologies, LLC.

Eleclear Technologies is based in Alabama and will be initially funded with $1.2 Million of new capital on a 70/30 basis between Dr. Scott A Drummond and ME₂C Environmental to coincide with the ownership arrangement. ME₂C Environmental will provide technical and research direction, along with the commercialization of the anticipated technologies. The initial technologies being developed by Eleclear will move to full pilot scale testing in the near future.

“Our collaboration with Dr. Drummond began in 2019 to further the development of sorbent technologies targeting environmental remediation and value-added by-products production. We understood the importance of providing a new solution to the industry to more effectively support wastewater and soil remediation,” commented Richard MacPherson, President and CEO of ME₂C Environmental. “Eleclear Technologies has been formed as the commercial vehicle to further develop these environmental technologies and take them to market. It is the culmination of significant resources and joint efforts from both parties. We are excited to develop, through Eleclear, highly effective, innovative, and affordable solutions addressing relevant issues facing today’s environmental challenges across the USA,” concluded MacPherson.

Information about Eleclear Technologies will soon be available at www.me2cenvironmental.com/eleclear.

About ME₂C^® Environmental

ME₂C Environmental (OTCQB: MEEC), is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME₂C’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. 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 Contact:
Stacey Hyatt
Corporate Communications
ME₂C Environmental
Main: 614-505-6115 x-1001
Direct: 404-226-4217
shyatt@me2cenvironmental.com

Investor Relations Contact:
Greg Falesnik or Brooks Hamilton
MZ Group - MZ North America
949-546-6326
MEEC@mzgroup.us
www.mzgroup.us

FAQ

What is the significance of the collaboration between MEEC and Eleclear Technologies?

The collaboration aims to develop advanced technologies for water and soil remediation, addressing significant environmental issues.

How much is MEEC investing in Eleclear Technologies?

MEEC is investing $1.2 million into Eleclear Technologies.

Who is involved in the funding of Eleclear Technologies?

The funding is structured on a 70/30 basis between MEEC and Dr. Scott A. Drummond.

What are the initial plans for Eleclear Technologies?

Eleclear Technologies plans to develop and test new remediation technologies on a pilot scale soon.

What role will MEEC play in Eleclear Technologies?

MEEC will provide technical and research direction to help commercialize the anticipated technologies.