Midwest Energy Emissions Corp. Announces a New Supply Agreement Valued at $7.5M+ with a Large Midwest Utility Fleet

Rhea-AI Summary

Midwest Energy Emissions Corp. (OTCQB: MEEC) announced a new four-year supply agreement with a significant utility in the Southwest, with a minimum expected value of $7.5 million. The contract will provide MEEC's patented Sorbent Enhancement Additive (SEA®) process. CEO Richard MacPherson emphasized the significance of this long-term relationship, highlighting the company’s capabilities in emissions reduction technology. He also noted the increasing relevance of clean coal and ESG technologies, suggesting potential growth for MEEC in the coal-fired power industry.

Positive

• New four-year supply agreement worth a minimum of $7.5 million.
• Strengthened long-term relationship with a significant utility customer.
• Potential growth in the clean coal and ESG technology sectors.

Negative

• None.

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.

ME₂C Contact:
Stacey Hyatt
Corporate Communications
Midwest Energy Emissions Corp.
Main: 614-505-6115 x-1001
Direct: 404-226-4217
shyatt@midwestemissions.com

Investor Relations Contact:
Greg Falesnik or Luke Zimmerman
MZ Group - MZ North America
949-385-6449
MEEC@mzgroup.us
www.mzgroup.us

FAQ

What is the new supply agreement announced by MEEC?

Midwest Energy Emissions Corp. announced a four-year supply agreement to provide its Sorbent Enhancement Additive (SEA®) process, expected to generate a minimum of $7.5 million.

What is the significance of MEEC's new contract?

The contract emphasizes MEEC's capabilities in emissions reduction technology and establishes a long-term relationship with a major utility.

When does the supply agreement with the utility begin?

The supply agreement begins immediately as announced in the press release.

How does the new agreement benefit MEEC financially?

The agreement is valued at a minimum of $7.5 million over its four-year term, providing a strong financial foundation for MEEC.

What technologies does MEEC focus on?

MEEC focuses on emissions reduction technologies applicable to the coal-fired power industry, particularly clean coal and ESG technologies.