LEWIS CENTER, OHIO / ACCESSWIRE / May 20, 2015 / Midwest Energy Emissions Corp.(MEEC) today provided a general business update for investors and shareholders, as the US Environmental Protection Agency's (EPA) long awaited Mercury and Air Toxics Standards (MATS) regulation has recently taken effect. MATS 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 starting April 16, 2015.
CEO Richard MacPherson stated, "As a new technology company in this rapidly emerging industry, we want to take this time to update the market on material operational developments as the regulation of MATS has come to fruition, and the US coal-power industry seeks solutions for their mercury emissions compliance. MATS is very important to the US power industry, and to our company, and our patented SEA Technology for mercury control has achieved great initial success that we are executing on every day. In 2014, we announced a total of 15 electric generating units (EGU's) that we have under long-term contracts for MATS compliance. We just completed installation of 3 of our proprietary injection systems in April 2015, and combined with product sales and consulting fees have generated revenues of just under $2 million last month. At this increased level of business, we were able to achieve operating-profitability for a calendar month for the first time in company history, a milestone accomplishment. We are on schedule for a very busy summer of installations on six additional systems, and two sorbent injection systems. In total, we estimate that we will generate over $110 million in aggregate revenues from the product, equipment, and consulting services that are part of the long-term, three-plus year contracts that we have been awarded to date."
Concluded MacPherson, "Our team is presently executing on continuous technology demonstrations, sales presentations and in-field operations. I am proud of our accomplishments to date, and excited for our future prospects. We are seeing a ramp up in revenues starting this quarter, and look to a substantial 2016 where we estimate over $30 million in revenues on these initial contracts alone, with significant business development efforts underway with other utilities across North America. Our R&D team continues to innovate and expand our reach into the coal-power industry for their mercury emissions needs. We will provide constant updates on our performance as we continue our growth throughout the year ahead."
About Midwest Energy Emissions Corp. (ME2C)? Midwest Energy Emissions Corp. delivers patented and proprietary solutions to the global coal-power industry to remove mercury from their power plant emissions, providing performance guarantees and leading edge emissions services. 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 starting April 16, 2015. ME2C has developed patented technology and proprietary products that have been shown to achieve mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than currently used methods, while preserving the marketability of fly-ash for beneficial use.
Midwest Energy Emissions Corporation (MEEC)
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0.15(27.27%) 11:53AM EDT| Prev Close: | 0.55 |
|---|---|
| Open: | 0.55 |
| Bid: | N/A |
| Ask: | N/A |
| 1y Target Est: | 3.00 |
| Beta: | -0.51 |
| Next Earnings Date: | N/A |
| Day's Range: | 0.47 - 0.70 |
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| 52wk Range: | 0.36 - 1.44 |
| Volume: | 84,457 |
| Avg Vol (3m): | 43,842 |
| Market Cap: | 28.32M |
| P/E (ttm): | N/A |
| EPS (ttm): | -0.13 |
| Div & Yield: | N/A (N/A) |
Headlines
- Midwest Energy Emissions Corp. Provides Business Update as EPA's MATS Regulations Take EffectAccesswire(Wed 8:31AM EDT)
- MIDWEST ENERGY EMISSIONS CORP. Files SEC form 10-Q, Quarterly ReportEDGAR Online(Fri, May 15)
- MIDWEST ENERGY EMISSIONS CORP. Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements aEDGAR Online(Fri, May 8)
- Midwest Energy Emissions Corp. Announces Significant Patent Portfolio Developments, and New Product CommercializationAccesswire(Thu, May 7)
- MIDWEST ENERGY EMISSIONS CORP. Files SEC form 8-K, Other EventsEDGAR Online(Fri, Apr 24)
- The Big Winner in the US Coal Regulations GameAccesswire(Wed, Apr 22)
- Midwest Energy Emissions Delivers Total Mercury Control With Its New Mobile Emissions Analysis LabAccesswire(Thu, Apr 2)
- MIDWEST ENERGY EMISSIONS CORP. Files SEC form 8-K, Change in Directors or Principal Officers, Other Events, FinancialEDGAR Online(Wed, Apr 1)
- Midwest Energy Emissions Announces Richard MacPherson to Succeed as President and CEOAccesswire(Tue, Mar 31)
- MIDWEST ENERGY EMISSIONS CORP. FinancialsEDGAR Online Financials(Thu, Mar 26)
- MIDWEST ENERGY EMISSIONS CORP. Files SEC form 10-K, Annual ReportEDGAR Online(Fri, Mar 20)
- Midwest Energy Emissions Corp. Further Strengthens Its Board of DirectorsMarketwired(Thu, Mar 12)
- MIDWEST ENERGY EMISSIONS CORP. Files SEC form 8-K, Change in Directors or Principal OfficersEDGAR Online(Thu, Feb 26)
- Midwest Energy Emissions Corp. Further Strengthens Its Operations and Field Team in Preparation for Business Expansion in 2015Marketwired(Tue, Feb 3)
- Midwest Energy Emissions Corp. Announces 2014 Year-End Business UpdateMarketwired(Fri, Jan 2)
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Press Releases
- Midwest Energy Emissions Corp. Provides Business Update as EPA's MATS Regulations Take EffectAccesswire(Wed 8:31AM EDT)
- Midwest Energy Emissions Corp. Announces Significant Patent Portfolio Developments, and New Product CommercializationAccesswire(Thu, May 7)
- The Big Winner in the US Coal Regulations GameAccesswire(Wed, Apr 22)
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