| Propanc Up-lists to OTCQB; Reduces Authorized Shares by 80% at Accesswire Tue 8:30am | ||
| Midwest Energy Emissions Corp. Provides Business Update to Investors, Predicting Growth Aheadat Marketwired Tue 8:40am | ||
As a new technology company in this rapidly emerging industry, we want to take this time to update the market on material operational developments," said CEO Richard MacPherson.
In 2014, the Company announced a total of 15 electric generating units (EGU's) under long-term contracts, representing over 130M in multiyear revenues.
"The accomplishments we are reporting on today are the execution of the installations and commissioning required to fulfill these contracts. The product, equipment sales and consulting fees necessary to carry out these installations has resulted in our generating revenues nearly equal to that of the entire year in 2014 in Q2 of 2015 alone," MacPherson said.
MacPherson continued, "We are now underway with a very busy summer/fall of continued commissioning and new product sales. The remainder of 2015 is very exciting as we finalize our present installations and provide our proprietary products and services to meet our contracted business across North America -- as required by the state, federal and provincial laws." MacPherson concluded, "Revenues are growing substantially quarter over quarter this year, leading to what is expected to be a banner year in 2016. We are especially pleased with the results of our recent Canadian demonstrations, where we introduced our new line of sorbents to great effect. We look forward to presenting the second quarter results for 2015 this month."
In short, ALL systems are go with EPA's "MATS" mercury emission control compliance for about 25% of the US Coal Powered utility fleet…with the remaining 75% of the coal fired power generators over 25MW coming under MATS in April 2016.
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MEEC's projected $100 million of contracted revenues with major utility companies over the next three years has grown to $110 million.
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Currently, the company has 15 electric generating units (EGUs) under contract for MATS compliance. Two EGUs have been operational since 2011 and another three injection systems have just been installed in April.
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April's combined product sales and consulting fees generated revenues of nearly $2 million resulting in the company's first profitable operating calendar month.
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This summer, six additional systems and two sorbent injection systems are schedule to be installed. Management estimates that product sales, equipment installations and consulting services willgenerate over $8 million in equipment sales during 2015.
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Product revenues of approximately $16 million annually areestimated to be the company's break-even point on a cash flow basis.
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Management still anticipates becoming cash flow positive when full MATS compliance is achieved by its customers in 2016.
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2016: Over $30 million in revenues
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2015-2018: Over $110 million over the terms of existing contracted revenues.
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Utilizing the mid-second quarter P/S ratio of 1.8 on projected 2016 sales of $34.9 million, Zacks Small Cap Research share price target remains $1.55.
Based on additional contract wins by we anticipate for MEEC primarily derived from its up to 50% guaranteed lower mercury compliance cost guarantee to Powder River coal fired power plants, our NBT Equities Research forecast for 2018 revenues remains >$80 million annualized and 0.50 EBITDA per share on approximately 60 Million shares outstanding or $5 a share......(read more clicking above)
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