New License Agreement Enhances Birchtech's Position in the Market
Birchtech Corp. (TSX: BCHT) (OTCQB: BCHT) has finalized a significant license agreement with a notable regional coal-fired power utility. This agreement stems from a lawsuit filed by Birchtech earlier, aimed at addressing its advanced mercury emissions reduction technologies. The decision to establish this agreement brings forth a resolution to the ongoing case, which had been consolidated with various other lawsuits initially filed.
Details of the Agreement and Its Implications
The newly signed license agreement encompasses a one-time licensing fee. However, specifics regarding other terms of the agreement remain undisclosed due to confidentiality clauses linked to the ongoing litigation. Importantly, this agreement leads Birchtech to abandon all claims against this particular utility in the ongoing consolidated lawsuits, while other claims against remaining defendants will still proceed.
CEO Comments on Growth Strategy
Richard MacPherson, the CEO of Birchtech, expressed that the approach of forming licensing agreements has yielded productive results following the past jury trial. He emphasized that this strategy not only generates essential revenue but also supports the advancement of innovations in water treatment technologies. The decision to negotiate a license fee was based on Birchtech's calculations regarding the utility's usage of its exclusive SEA technology.
MacPherson further stated, "Our innovative licensing arrangements offer coal-fired utilities the chance to lower their mercury emissions while also improving operational efficiencies. Since 2019, we have collaborated with multiple utilities, and this month alone, we’ve formed connections with five utilities part of the consolidated litigation in Iowa." He underlined that ongoing litigations are still in progress as they await a ruling from a past jury trial held in the Delaware District Court.
About Birchtech Corp.
Birchtech Corp., recognized as a leader in specialty activated carbon technologies, is committed to creating an air and water purified environment. Known as America’s Clean Coal and Clean Water Company, Birchtech develops innovative solutions aimed at ensuring cleaner air and water for future generations. With a focus on patented SEA technologies for the coal-fired utility sector and notable disruptions in water purification technologies, Birchtech also addresses challenges posed by persistent pollutants like PFAS and PFOS. The company is bolstered by a robust intellectual property portfolio and a dedicated team of experts in activated carbon solutions.
Contact Information
For further details regarding investor relations, please reach out to:
Lucas A. Zimmerman
Managing Director
MZ Group – MZ North America
(949) 259-4987
BCHT@mzgroup.us
Frequently Asked Questions
What does the new license agreement entail for Birchtech?
The new license agreement allows Birchtech to resolve litigation with a coal utility, opening pathways for financial growth and technological application.
How does the licensing model benefit utilities?
Utilities can achieve reductions in mercury emissions and gain operational efficiencies through the use of Birchtech's patented technologies.
What technologies does Birchtech focus on?
Birchtech specializes in activated carbon technologies, specifically for mercury emissions capture and developing solutions for water purification.
What is the significance of this agreement for Birchtech’s growth?
This agreement represents another step in Birchtech's strategy to establish relationships with coal utilities and to promote environmental sustainability in the energy sector.
How can investors find more information about Birchtech?
Investors can find more information through Birchtech's investor relations contact, Lucas A. Zimmerman, or by visiting the company’s official website.
