ME2C® Environmental Secures Multi-Year Contract Renewal Expected to Reach $1.5 Million Annually

Rhea-AI Summary

Midwest Energy Emissions Corp. (OTCQB: MEEC) announced a multi-year contract renewal valued at $1.5 million, extending its supply of patented Sorbent Enhancement Additive (SEA^®) technologies for mercury emissions capture to a major utility customer in the U.S. This renewal follows another contract established in January for two additional plants. The CEO highlighted the long-term benefits and capacity for MEEC to support utilities in achieving reduced mercury emissions as coal-fired power generation increases across the country.

Positive

• Multi-year contract renewal with an annual value of $1.5 million.
• Continued supply of patented SEA® technologies strengthens business relationship with major utility.
• Increased capacity to support utilities in reducing mercury emissions.

Negative

• None.

The Second of Two Supply Contract Renewals in 2022 for Major Utility Customer Based in the South

CORSICANA, TX, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME₂C Environmental" or the “Company”), a leading environmental technologies firm, announced the signing of a multi-year contract renewal with an annual value expected to reach $1.5 million. Under the extended supply contract, ME₂C will continue supplying its patented Sorbent Enhancement Additive (SEA^®) technologies for mercury emissions capture.

“Our long-term supply customer in mercury emissions has received significant benefits from our mercury emissions capture technologies and expertise,” stated Richard MacPherson, CEO of ME₂C Environmental. “This second contract renewal for a third plant at one of the largest utilities in the U.S. provides strong validation of our approach to mercury emissions. We previously announced in January a renewal for two other plants operated by this customer. As coal-fired power increases throughout the U.S. over the next couple of years, ME₂C has the capacity and infrastructure in place to be a solid business partner for major utilities across the U.S. working to achieve reduced mercury emissions, ensure high-quality coal ash for beneficial use, and partner with an environmentally friendly technology company.”

“We are happy to continue to support the scalable needs of this major U.S. utility and look forward to growing our existing mercury emission customer base through this year,” 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 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:
Kevin McGrath
Managing Director
TraDigital IR 
Tel: 646-418-7002
kevin@tradigitalir.com

FAQ

What is the contract renewal value announced by MEEC?

The contract renewal announced by MEEC is valued at $1.5 million annually.

Which company is MEEC partnering with for mercury emissions capture?

MEEC is partnering with a major utility customer for mercury emissions capture.

When was the recent contract renewal for MEEC signed?

The recent contract renewal was signed on February 23, 2022.

How does MEEC's SEA® technology benefit power plants?

MEEC's SEA® technology provides efficient mercury emissions capture at lower costs with minimal operational impact.

How many contract renewals has MEEC completed in 2022?

MEEC has completed two contract renewals in 2022.