Birchtech Corp. Advances with Power Utility Agreement
Birchtech Corp. Strengthens Its Position in the Industry
Birchtech Corp. (TSX: BCHT) (OTCQB: BCHT), a prominent name in specialty activated carbon technologies, has recently taken a significant stride forward by securing a new agreement with a coal-fired power utility involved in ongoing litigation. Although the specific terms remain confidential due to legal constraints, this agreement marks a notable development in Birchtech's efforts to expand its market presence.
Successful Resolution of Legal Claims
The company successfully resolved all claims against two groups of defendants in a lawsuit initiated in Arizona. However, other claims filed in states such as Iowa and Missouri against different defendants are still active, with those cases now centralized in the Southern District of Iowa. Birchtech's proactive legal strategy underscores its commitment to protecting its innovative technologies.
CEO Remarks on Industry Acceptance
Richard MacPherson, CEO of Birchtech, expressed optimism about the recent agreement, noting, "This second agreement reinforces the industry’s strong acceptance of our patented technologies, while concurrently fortifying our balance sheet for the benefit of our shareholders." He is confident that the utility involved will see ongoing benefits from the innovative solutions provided by Birchtech.
Outreach and Future Prospects
Birchtech is actively engaged in discussions with other defendants listed in its recent lawsuits. The company anticipates entering additional licensing agreements and supply contracts with various utilities. The legal precedents set by recent jury verdicts have bolstered Birchtech’s position regarding its patented technologies, promoting a more favorable environment for future partnerships.
History of Legal Challenges and Settlements
Since initiating legal action in July 2019 against 43 defendants, including major power utilities and refined coal companies, Birchtech has navigated a complex legal landscape with determination. The company achieved a significant pre-trial settlement with multiple defendants in late 2023 and was awarded a $57 million jury verdict for willful infringement in a subsequent trial in 2024. This victory not only validated Birchtech's claims but also enhanced its leverage in ongoing and future negotiations.
Building Sustainable Relationships
Over the past few years, Birchtech has entered into ten license or supply agreements with coal-fired utilities, significantly fostering its operational footprint. These agreements include collaborations with utilities that were previously defendants in the company’s legal disputes. This strategic approach aims to assert and protect the company’s intellectual property while offering its innovative solutions to the energy sector.
About Birchtech Corp.
Birchtech Corp. stands at the forefront of activated carbon technology, focusing on air and water purification solutions. The company specializes in delivering patented SEA® sorbent technologies designed for mercury capture and is actively developing cutting-edge water purification methods aimed at removing harmful contaminants like PFAS and PFOS. With a solid intellectual property portfolio and a team of experts in activated carbon, Birchtech strives to provide a cleaner, more sustainable future for communities across North America.
Contact Information for Investor Relations
Investors and interested parties can reach out to: Lucas A. Zimmerman, Managing Director at MZ Group - MZ North America, by calling (949) 259-4987 or email at BCHT@mzgroup.us. For more details about the company, visit www.mzgroup.us.
Frequently Asked Questions
What recent agreement did Birchtech Corp. secure?
Birchtech Corp. announced a non-exclusive agreement with a coal-fired power utility involved in their ongoing litigation.
How has Birchtech managed its legal challenges?
Birchtech has successfully resolved numerous claims while continuing to pursue others, centralizing many cases in the Southern District of Iowa.
What does the CEO say about the new agreement?
CEO Richard MacPherson stated that the agreement reinforces industry acceptance of their patented technologies and strengthens the company's financial stance.
How many agreements has Birchtech established since 2019?
Since 2019, Birchtech has built ten license and/or supply agreements with various coal-fired utilities.
What is Birchtech Corp. known for?
Birchtech Corp. is recognized for its innovative activated carbon technologies aimed at air and water purification for a sustainable future.
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