Midwest Energy Emissions Corp (OTC:MEEC) has secured a new supply business with a licensee of the Company's patented Sorbent Enhancement Additive (SEA) technology for mercury emissions capture.
What Happened: The new supply business expected to continue through 2022 was gained after certain product testing was completed at one of the utility's power plants located in the Midwest.
The utility entered into a license agreement with Midwest Energy in 2020, and in mid-2021, a new supply contract for a plant in the Midwest was announced with this utility.
The additional supply business is the second new plant location under this utility's fleet to become a direct product supply customer of ME2C in addition to the utility's plant, which had already been a direct supply customer when the license agreement was signed in 2020.
Why It's Important: "Working with us directly as a supply customer provides the plant with additional measurable benefits and bottom-line operational improvements," said Richard MacPherson, Chief Executive Officer of ME2C Environmental.
Price Action: MEEC shares closed at $0.47 on Monday.
Photo via company website
