Midwest Energy Emissions Corp Provides Year End Operations Update: Announces Material Business Development, Letter of Intent
WORTHINGTON, OH -- (Marketwired) -- 12/12/13 -- Midwest Energy Emissions Corp. (MEEC) today announces its 2013 year-end business operations update, including material developments in its mercury capture program for U.S. coal power utilities.
Midwest Energy Emissions Corporation develops and employs patented and proprietary technologies to remove mercury from coal-power plant emissions. The U.S. Environmental Protection Agency's (EPA) Mercury and Air Toxic Standards (MATS) rule 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 by April 16, 2015. Midwest Energy Emissions employs patented technology that has been shown to achieve mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than current, competing technologies.
ME2C's President & CEO, R. Alan Kelley stated, "We are very excited to address our investors with full confidence that we have entered into the growth and execution phase of our business. ME2C has successfully conducted 31 demonstrations of our patented, industry leading technology, tailored to demonstrate the full capacity of our unique technology to help coal-powered utilities meet the EPA's forthcoming mandates to comply with MATS, a major new regulation for the coal power industry." Mr. Kelley continued, "We have successfully completed these 31 demonstrations across all coal types as well as a majority of utility system designs, in head-to-head competition, and we have recently signed the first of a number of letters of intent that we expect to sign quite soon."
Mr. Kelley further explained, "This is an exciting and ground-breaking inflexion point for our company and shareholders. After many years of demonstrations, and establishing Proof Of Concept with what was considered a novel energy technology, we now enter the exciting phase of technology-adoption. We know that our solution is the best in its class and we are eager to continue the process of demonstrating to utilities the important value proposition of our technology over all other competing systems in the market."
Concluding, Mr. Kelley stated, "We expect to demonstrate meaningful traction in our business into the first quarter of 2014 and look forward to providing investors with a series of business updates that will provide clarity about this growth and execution phase, in the form of significant business wins and further technology demonstrations."
About Midwest Energy Emissions Corp. (ME2C) Midwest Energy Emissions Corporation delivers cost effective mercury capture technologies to power plants and other large industrial coal-burning units in the United States and Canada. The Company's proprietary technology allows customers to meet the new, highly restrictive standards the U.S. EPA has set for mercury emissions, in an effective and economical manner with the least disruption to their current equipment and on-going operations. For more information, please refer to the Company's website at 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. 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, 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, failure to obtain adequate working capital to execute the business plan 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.
Contact Keith R. McGee Director of Investor Relations Midwest Energy Emissions Corp. 614-505-6115 firstname.lastname@example.org
Source: Midwest Energy Emissions Corp.