With EPA Deadline Ahead, Midwest Energy Emissions Corp. (MEEC) Receives Multi-Year Commitments From Major U.S. Power Producer
Seeking Alpha Analyst Since 2010
Midwest Energy Emissions (ME2C), a developer of proprietary, cost-effective mercury capture technologies to power plants and other large industrial coal-burning units in the United States and Canada, reports that it has received firm commitments from a major U.S. power producer for multi-year, mercury pollution control for Mercury and Air Toxic Standards (MATS) compliance.
The commitments are for a fleet of nine generating units capable of achieving mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than currently used methods. ME2C estimates that revenues for this relationship will grow to roughly $30 million per year by 2016 with initial revenues beginning in 2014.
"This is a significant milestone achievement for our team and shareholders, with anticipated annual revenues of over $30 million per year when the full fleet of this single power provider is under MATS compliance. We further believe that this is just the beginning of the adoption of our technology by others and expect to be making additional commercial announcements soon," CEO Alan Kelley stated in the news release.
The U.S. Environmental Protection Agency's (EPA) MATS rule requires that all coal-fired and oil-fired power plants in the U.S., larger than 25 mega-watts, must remove roughly 90 percent of mercury from their emissions beginning April 16, 2015, though some plants have been given extensions into 2016.
ME2C is quickly growing its reputation as a leading solution for power plants to achieve compliance, benefitting from decades of thorough research and testing.
"This very significant win for our company is the direct result of over 20 years of dedicated research and technology development in advanced mercury control solutions. We believe that our proprietary technology is truly the best in class, and this business commitment serves as validation of our belief," Kelley said.
For more information visit midwestemissions.com
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