Midwest Energy Emissions Corp. and the Energy & Environmental Research Center Foundation Announce a Major Agreement Regarding Mercury Emission PatentsDecember 20, 2013
Worthington, Ohio and Grand Forks, North Dakota: Midwest Energy Emissions Corp (MEEC: OTCQB) and the Energy & Environmental Research Center Foundation (EERCF) today announce that they have signed Amendment 4 to their exclusive Licensing Agreement which provides MEEC two new patents and two new patent applications in the mercury emissions control area, as well as certain changes to the timing of maintenance fee and royalty payments. The EERCF receives higher maintenance fees, a higher patent buyout price and equity in MEEC. This new amendment is a major enhancement for both parties.
MEEC's President and CEO, Alan Kelley stated, "We are very pleased to announce this major amendment which further expands our close and mutually beneficial relationship with the EERCF". The EERCF is the commercialization arm of the Energy and Environmental Research Center (EERC) at the University of North Dakota. The EERC is the premier research center in the world in the control of mercury emissions from sources such as power plants. Mercury air emissions is a global issue now as about 135 governments have agreed to implement regulations to reduce emissions of the dangerous element. The U.S. is leading the way with the Mercury and Air Toxics Standards which became effective in 2012, with U.S. utilities required to be in compliance starting in 2015. With this agreement with the EERC, MEEC now has 25 patents and patent applications in our portfolio, spanning numerous technologies and geographies.
Dr. Gerald Groenewold, EERCF Board Member and Director of the EERC, said, "This Amendment builds on the existing relationship between the EERCF, EERC and MEEC and enhances the commercial solutions and opportunities offered by MEEC."
About Energy & Environmental Research Center (EERC): The EERC is a research, development, demonstration, and commercialization facility recognized as one of the world's leading developers of cleaner, more efficient energy technologies as well as environmental technologies to protect and clean our air, water, and soil. The EERC, a high-tech, nonprofit division of the University of North Dakota (UND), operates like a business and pursues an entrepreneurial, market-driven approach to research and development in order to successfully demonstrate and commercialize innovative technologies. The EERC currently employs over 250 people and is aggressively expanding its staff. The EERC leverages and enhances government research dollars by developing working partnerships with industry, government, and the research community. Since 1987, the EERC has had more than 1250 clients in 50 states and 52 countries.
About Midwest Energy Emissions Corp (MEEC): Midwest Energy Emissions Corporation 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. - END - Keith R. McGee
Director of Investor Relations
Midwest Energy Emissions Corp