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Midwest Energy Emissions Completes Previously Announced Demonstration 08/09 08:30 AM
WORTHINGTON, OH -- (MARKETWIRE) -- 08/09/12 -- Midwest Energy Emissions Corp (MEEC:$1.01,00$0.21,0026.25%) announced today that its most recent demonstration (test) at a major US utility power plant further confirmed Midwest's performance in removing mercury to below the emission level limits required by the new EPA Mercury and Air Toxics Standards (MATS) rule while using much less sorbent than currently employed technology.
Midwest President and COO Alan Kelley noted, "This demonstration again confirms the ability of our technology to achieve a level of emissions control compliant with the new EPA MATS regulation at roughly half the injection rate of currently employed Brominated Activated Carbon (BAC) injection systems. All plants 25 megawatts (MW) and larger in the US will have to comply with the new MATS regulation starting in April 2015, so plants are conducting demonstrations now to determine what technology they will employ to meet those new limits. In addition, many plants are now under state mercury emission regulations here in the US, along with most Canadian provinces, and they offer Midwest a substantial near term business opportunity."
Mr. Kelley continued, "We are currently in discussions with the operators of several other units who have expressed an interest in performing demonstrations with our technology."
Mr. Kelley noted, "While each plant situation is unique, in general a 1,000 MW coal-fired power plant might spend in excess of $10 million per year for BAC sorbent injection to achieve mercury reductions required by MATS. We believe we can save those plants at least 30% in their mercury control costs. Given that there are 1,100 coal units in the U.S. that will be affected by the MATS regulation starting in April 2015, this should be a substantial market. EPA has estimated the cost of compliance at $9.6 billion per year. While we believe that a number of coal plants will shut down due to the cost of compliance, most will find control technologies to meet the new regulation. Thus, if the market is even half the size of the EPA estimate, that is still a multi-billion dollar annual market opportunity. The technology offered by Midwest continues to demonstrate excellent performance, and we believe puts Midwest Energy Emissions (MEEC:$1.01,00$0.21,0026.25%) in a good position to secure a significant fraction of this mercury control market."
In addition to the US, Canada and China also have specific mercury control regulations in place and Midwest holds exclusive patent rights which it believes are broad and strong in both countries.
About Midwest Energy Emissions Corp (MEEC:$1.01,00$0.21,0026.25%) : We deliver cost effective mercury capture technologies to power plants and other large industrial coal-burning units in the United States and Canada and to other countries around the world. Our proprietary technology allows customers to meet even the new, highly restrictive standards the US EPA has set for mercury emissions, in an effective and economical manner with the least disruption to the current equipment and on-going operations. For more information, see our website at www.midwestemissions.com.
Forward-Looking Statements
Statements in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied in this release. 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.
CONTACT:
Jeffrey E. Davis
Director, Corporate Communications and Investor Relations
jdavis@midwestemissions.com
(614) 505-6115
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