WORTHINGTON, OH--(Marketwired - Jan 30, 2014) - Midwest Energy Emissions Corporation (OTCQB: MEEC) ("ME2C") today announced that it has received firm commitments from a major U.S. power producer for multi-year, mercury pollution control for MATS compliance. The commitments are for a fleet of 9 generating units. ME2C estimates that revenues for this relationship will grow to roughly $30 million per year by 2016, the final MATS compliance year, with initial revenues beginning in 2014.
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 beginning April 16, 2015. Some plants have been given extensions into 2016. ME2C 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 currently used methods
CEO Alan Kelley stated, "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 continued, "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."
About Midwest Energy Emissions Corp. (ME2C) Midwest Energy Emissions Corp. 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.