Today before the opening bell, Midwest Energy Emissions
provided news of key company milestones in its annual business operations
update. The update included the company’s announcement of updates regarding
material developments in its mercury-capturing technology for U.S. coal power
utilities.
Discussing these updates in depth, Company President and
CEO, R. Alan Kelley stated, “We are very excited to address our investors with
full confidence that we have entered into the growth and execution phase of our
business. Midwest Energy Emissions has successfully conducted 31 demonstrations
of our patented, industry leading technology, tailored to demonstrate the full
capacity of our unique technology to help coal-powered utilities meet the EPA’s
forthcoming mandates to comply with MATS, a major new regulation for the coal
power industry.” Mr. Kelley continued, “We have successfully completed these 31
demonstrations across all coal types as well as a majority of utility system
designs, in head-to-head competition, and we have recently signed the first of
a number of letters of intent that we expect to sign quite soon.”
As an extension of the Clean Air Act, the US EPA is
mandating that all coal and oil-fired power plants in the U.S., larger than 25
mega-watts, remove 90% of their emissions from their operations by mid-April
2015. The mandate is being extended through the agency’s Mercury and Air Toxic
Standards (MATS) rule, which the agency estimates will establish a total annual
compliance cost of $10 billion beginning in 2015. Midwest Energy Emissions has
developed a patented and proprietary technology that has been proven to reduce
plant mercury emission levels to those that meet or are lower than the
compliance requirements, but at a significantly lower cost and with less
operational impact than current technologies.
The EPA estimates the MATS rule will impact around 1,400
units around the United States, constituting 1,100 coal-fired plants and 300
oil-fired plants at 600 power stations.
Mr. Kelley further explained, “This is an exciting and
ground-breaking inflexion point for our company and shareholders. After many
years of demonstrations, and establishing Proof Of Concept with what was
considered a novel energy technology, we now enter the exciting phase of
technology-adoption. We know that our solution is the best in its class and we
are eager to continue the process of demonstrating to utilities the important
value proposition of our technology over all other competing systems in the
market.”
Mr. Kelley concluded, “We expect to demonstrate meaningful
traction in our business into the first quarter of 2014 and look forward to
providing investors with a series of business updates that will provide clarity
about this growth and execution phase, in the form of significant business wins
and further technology demonstrations.”
For more information, visit www.midwestemissions.com
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