ME2C® Environmental Secures Contract Extension with Major Utility Customer

Rhea-AI Summary

Midwest Energy Emissions Corp. (OTCQB: MEEC) has announced a two-year extension of its master supply agreement with a major coal-fired utility in Oklahoma, which has been a customer for five years. This contract includes continued licensing of the patented SEA® technologies and supply of custom sorbents. CEO Richard MacPherson emphasized the operational benefits and support provided to the customer's plant, reinforcing MEEC's recurring revenue model. The agreement presents growth opportunities in the power industry, demonstrating MEEC's commitment to enhancing operational efficiency.

Positive

• Two-year contract extension with a major coal-fired utility in Oklahoma.
• Ongoing licensing of patented SEA® technologies.
• Strengthened recurring revenue model.
• Established operational support leading to improved plant efficiency.

Negative

• None.

Multi-Year Master Supply Agreement Extension of Mercury Emissions Control Services

CORSICANA, TX, March 16, 2021 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME₂C Environmental" or the “Company”), a leading environmental technologies firm, today announced that it has signed a two-year master supply agreement contract extension with a major coal-fired utility located in Oklahoma.

The contract extension of this previously entered into Master Supply Agreement provides an extension to a license to the Company’s patented SEA^® technologies along with a supply of custom sorbents over the next two years.

“We are pleased to continue working with this utility, which has been a continuous customer of ours for the past 5 years, receiving numerous operational benefits by working directly with ME₂C for both a technology license and for ongoing product supply,” said Richard MacPherson, President and CEO of ME₂C Environmental. “In addition to a license to operate our patented SEA^® process for mercury emissions, the customer plant also receives operational support from our skilled team to improve overall plant operations and efficiency.

 “This new contract extension reaffirms our attractive recurring revenue model. We believe that our business-first approach to our utility partners creates a mutual foundation for future growth opportunities in other burgeoning areas affecting the global power industry,” concluded MacPherson.

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 recent contract announcement for MEEC?

Midwest Energy Emissions Corp. has extended a master supply agreement with a coal-fired utility in Oklahoma for two years.

What technologies are involved in MEEC's contract extension?

The contract extension includes licensing of MEEC's patented SEA® technologies and supply of custom sorbents.

How long has MEEC been working with the Oklahoma utility?

MEEC has been a continuous customer of the utility for the past five years.

What are the expected benefits of the contract for the utility?

The utility will receive ongoing operational support and efficiency improvements through the use of MEEC's technologies.

What does the extension of the supply agreement mean for MEEC's revenue?

The agreement reinforces MEEC's recurring revenue model and opens avenues for future growth.