ME2C to Receive Lump Sum Licensing Payment with Potential for Ongoing Product Supply
CORSICANA, TX, Nov. 30, 2021 (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 Midwest 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 a one-time sum to be paid to ME2C Environmental for use of the Company’s patented processes for mercury emissions capture. The agreement also provides ME2C Environmental the opportunity to compete for the utility’s product supply going forward.
“Beginning a new relationship with yet another new licensee marks exciting progress for our Company and further adds to the strength of our core business,” said Richard MacPherson, CEO of ME2C Environmental. “Through our recent outreach across the U.S. coal-fired fleet, supported by our IP law firm, Caldwell, Cassady & Curry, our license claims for our patented process of mercury capture are being increasingly validated by the U.S. power industry. Importantly, this utility provides ME2C Environmental the opportunity to compete for the utility’s product supply going forward once their current contract expires and we look forward to providing additional operational benefits and efficiencies to this utility.”
“We believe that our proprietary SEA® technology is unmatched in comparison to alternative mercury capture approaches within the coal-fired industry. In tandem with the other licensing and supply agreements we have secured over the last year, ME2C has a strong foundation in our core mercury emissions capture vertical that we expect will support a growing revenue base and build continued momentum in our business going forward,” 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/.
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