Arrangement Reached with Fourth Utility Defendant
CORSICANA, TX, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C" or the “Company”), a leading environmental technologies firm, today announced the signing of an agreement to provide a large, North American utility (the “utility”) with a non-exclusive license to certain ME2C patents related to the Company’s two-part Sorbent Enhancement Additive (SEA®) process for mercury removal from coal-fired power plants, for use in connection with the utility’s coal-fired power plants.
As a result of the agreement being announced today, ME2C has agreed to dismiss all claims brought against the utility in the patent litigation initiated by ME2C, and the utility has agreed to withdraw from petitions for Inter Partes Review which had been filed with the United States Patent and Trademark Office pertaining to such patents. Legal proceedings will continue with respect to the remaining “refined coal” entities.
“This agreement with the last of the four major national utility defendants named in our previously disclosed patent litigation is a testament to the value proposition our innovative solutions bring to the U.S. coal-fired fleet,” said Richard MacPherson, President and Chief Executive Officer of ME2C. “As a result of these successful arrangements, we have secured patent recognition from leading power producers. Our technologies are depended upon and in use by roughly 44% of the entire U.S. coal-fired fleet. As a result of the agreements having now been reached with each of the parties to the Inter Partes Reviews, we expect the United States Patent and Trademark Office to terminate such proceedings.
“With a solid business foundation and a paid-for sizable infrastructure, we enter 2021 well positioned to realize significant supply-side growth across the U.S. market. We look forward to working with our current and future partners to help them remain compliant in their emissions control efforts with our core technologies. I would like to thank our shareholders for their continued support of our company as we continue to monetize our industry-adopted technologies,” concluded MacPherson.
About Midwest Energy Emissions Corp. (ME2C®)
Midwest Energy Emissions Corp. (OTCQB: MEEC) is a leading environmental technologies company 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. 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 Brooks Hamilton
MZ Group - MZ North America
949-546-6326
MEEC@mzgroup.us
www.mzgroup.us