Company to Initiate Pilot Scale Testing of New Methane Emissions Control Technology for the Oil & Gas Industry in the Near-Term
CORSICANA, TX, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C" or the “Company”), a leading environmental technologies firm, today announced the development of a proprietary new methane gas emissions control technology, as well as the preparation for near-term pilot scale testing to prove out the technology, planned for future adoption within the oil & gas industry.
“Our breakthrough methane emissions control technology, under development by our in-house team of expert chemists over the past 18 months, could truly be as groundbreaking as our mercury emissions control technology was to the coal-fired power industry,” said Richard MacPherson, Chief Executive Officer of ME2C. “According to the International Energy Agency, methane gas emissions are a leading cause of global warming, with the energy sector in particular being one of the largest contributors.
“From a comparative study we conducted, assuming a market value of ~$60 per metric ton of CO2, we believe the 178 million metric tons of methane released annually equates to a potential $10 billion commercial value in the United States alone. We will be discussing the technology in further detail at a later date as we continue to finalize our robust intellectual property strategy for this breakthrough.
“I believe that by working hand-in-hand with the industry, as we did with the coal-fired industry over the last decade, we can reduce methane emissions to create a cleaner future for all. With the successful monetization of our mercury control patents underway, we are well positioned to initiate near-term pilot scale testing of this exciting new technology”, concluded MacPherson.
Methane emissions are fast becoming a central point of the new Administration’s effort to curb greenhouse gas emissions. In an Executive Order on "Tackling the Climate Crisis at Home and Abroad", signed on January 27, 2021, by President Biden, Section 217 calls for federal agencies to provide monetary resources, along with “other efforts to assist coal, oil and gas, and power plant communities, and achieve substantial reductions of methane emissions from the oil and gas sector as quickly as possible”.
Additional information about the Company’s new methane gas emissions abatement technology will soon be found on their webpage at www.midwestemissions.com/emissionstechnologies. This information will be updated regularly as we move forward in the field.
About Midwest Energy Emissions Corp. (ME2C®)
Midwest Energy Emissions Corp. (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. 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