Five-Year Agreement Provides Annual Licensing Payment with Potential for Ongoing Product
CORSICANA, TX, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the "Company"), a leading environmental technologies firm, announced the signing of a five-year license agreement with a utility in the Southwest to provide a non-exclusive license to certain ME2C patents for use in connection with the utility's coal-fired power plants. The licensed patents relate to ME2C's two-part Sorbent Enhancement Additive (SEA®) process for mercury removal from coal-fired power plants.
The five-year license agreement includes an annual sum to be paid to ME2C Environmental for use of the Company's patented processes for mercury emissions capture.
"We are pleased to add this significant new business partner, seventh new licensee of our patented technologies since 2020 and the product of our legal outreach across the coal-fired utility market," stated Richard MacPherson, Chief Executive Officer of ME2C Environmental. "Our efforts to bring awareness to the U.S. coal-fired fleet of our patent position in mercury emissions technology have been successful as we continue to grow our strong customer base with new licensees and supply partners. ME2C has gained direct product supply business with a number of these new license partners, and we believe that there is a good potential for ME2C to augment this agreement with product supply sometime in the future. This technology license issued to a major Southwest utility is strong recognition of our patents and the tangible benefits that our technologies provide.
"With more stringent EPA regulations expected for the coal-fired industry, utilization of ME2C's highly effective technologies is more important than ever. Coal continues to be a strong component of U.S. energy production, and we expect this to increase over the next couple of years," 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/.
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ME2C Environmental Contact:
Main: 614-505-6115 x-1001