Innovative Sorbent Enhancement Additive (SEA)TM Technology Ensures Maximum and Cost-Efficient Mercury Capture
LEWIS CENTER, Ohio--(BUSINESS WIRE)-- Midwest Energy Emissions Corp. (OTCQB: MEEC) (ME2C), a leader in mercury emissions control in North America, has acquired all patent rights for its Sorbent Enhancement Additive (SEATM) mercury emissions control technology from the Energy & Environmental Research Center Foundation (EERCF), an organization that works to provide innovative solutions to the world’s energy and environmental challenges. ME2C acquired the rights for the price of $2.5 million and 925,000 shares of common stock in ME2C.
Richard MacPherson, President and CEO of ME2C, met with EERCF Board members in Grand Forks, North Dakota, on May 24, 2017, to commemorate the acquisition. “We are proud to have achieved this acquisition, which covers our proprietary two-part process for mercury control, MacPherson said. “The patents provide us with additional growth and revenue-generating opportunities throughout North America, and we are looking forward to continuing to deliver first-class technology to our clients.”
ME2C’s holistic approach and patented technology is designed to provide coal fired power plant operators the ability to meet any and all environmental requirements as required by law. ME2C’s team of experts evaluates individual power plants to offer customized solutions for mercury emissions capture. ME2C’s approach increases the efficiency of operations, lowering costs for the utility, while eliminating any balance of plant issues. Prior to the acquisition, ME2C maintained an exclusive, worldwide license to the technology since 2009.
The SEATM Technology was originally developed by the University of North Dakota Energy & Environmental Research Center (EERC).
“As long-time partners of ME2C, we are pleased to have witnessed their growth firsthand and the industry’s positive response to their innovative technology,” said Tom Erickson, EERC CEO. “ME2C’s continued success furthers a key goal of the EERC, and the EERCF, to develop market-based clean air solutions. This technology goes a long way in helping coal fired utilities improve their environmental performance in a cost-effective manner.”
Mr. MacPherson concluded, “This acquisition positions ME2C perfectly to continue its growth across North America, including the licensing of systems using a two-part process here in the United States and Canada.”
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 mercury from power plant emissions, providing performance guarantees, and leading-edge emissions services. The U.S. Environmental Protection Agency (EPA) MATS rule, which has been subject to legal challenges, requires that all coal- and oil-fired power plants in the U.S., larger than 25 mega-watts, must remove roughly 90% of mercury from their emissions starting April 15, 2015. ME2C has developed patented technology and proprietary products that have been shown to achieve mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than currently used methods, while 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 the Company. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company 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 the Company's periodic filings with the Securities and Exchange Commission.
Source: Midwest Energy Emissions Corp.
Released May 24, 2017
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