Watch List Update: ME2C (trades as MEEC)

[dan_s]

ME2C Environmental is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME2C's leading-edge mercury emissions technologies and services have been shown to achieve emissions removal at a significantly lower cost and with less operational impact than currently used methods, while maintaining and/or increasing power plant output and preserving the marketability of byproducts for beneficial use. ME2C Environmental is a trade name of Midwest Energy Emissions Corp.(MEEC). For more information, please visit http://www.me2cenvironmental.com/.

MEEC has more than doubled since the end of October. < This micro-cap came to my attention about six months ago. I was told at that time that if they won their patent infringement lawsuits there was significant upside. Several lawsuits have now been settled in their favor.
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ME2C Environmental Issues Statement on Recently Announced Patent Litigation Settlement with Certain Defendants
Mon, November 20, 2023

Settlements Validate Patents, Sets Significant Market Value; Action to Continue Against Remaining Defendants with Legal Notice to All Infringing Utilities

Corsicana, Texas--(Newsfile Corp. - November 20, 2023) - Midwest Energy Emissions Corp. (TSXV: MEEC) (OTCQB: MEEC) ("ME2C Environmental" or the "Company"), a leading environmental technologies firm, issued a statement today on the recently announced patent litigation settlement with certain defendants.

Richard MacPherson, Chief Executive Officer of ME2C Environmental stated, "We are extremely pleased that we have been able to resolve this patent litigation with many of the defendants which action we commenced in 2019. We will continue with the litigation against the remaining defendants with a trial date to be rescheduled by the Court. As part of the settlements announced last week, one of the defendants has entered into a license agreement based on a rate of $1.00 per ton of accused coal sold during the applicable damages period which we believe establishes a proper base line in our efforts against infringers."

"Given recent successful reinforcement of our patented position, we anticipate further discussions with all coal-fired utilities operating our patented process," continued MacPherson. "The settlements thus far only pertain to the "refined coal" operations and do not cover ongoing use of our patented technologies since the end of the refined coal program. We will be seeking resolution with any and all utilities that continue to operate our patented two-part process outside of a license or supply agreement. We will continue to protect our patent claims against the remaining defendants when our trial continues in early 2024."
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ME2C Environmental Reports Third Quarter 2023 Financial Results
Tue, November 21, 2023 at 7:07 AM CST

The Company Reports Strong Cash Position, Positive Working Capital and Net Cash Provided by Operating Activities

Corsicana, Texas--(Newsfile Corp. - November 21, 2023) - Midwest Energy Emissions Corp. (TSXV: MEEC) (OTCQB: MEEC) ("ME2C Environmental" or the "Company"), a leading environmental technology firm, has reported financial results for the third quarter ended September 30, 2023.

Financial Highlights
> Cash of $2.5 million on hand at September 30, 2023
> Working capital of $1.7 million
> Q3 2023 total revenues of $6.7 million
> Net cash provided by operating activities of $786,000 for the nine months ended September 30, 2023

Management Commentary

Richard MacPherson, Chief Executive Officer of ME2C Environmental, commented, "Our results from this third quarter we believe were solid, with cash on hand that has continued to increase from quarter to quarter during 2023 and which we expect will continue to increase through the foreseeable future. Our revenues remain constant with our strong customer base although reduced by $739,000 in Q3 2023 compared to Q3 2022 and resulting in a net loss for Q3 2023. Such reduction in revenues was significantly impacted by the closure of one of our customer's power plants at the end of 2022. We are confident we will be able to replace this loss of business with new direct supply business and/or new licensing agreements. In addition, net cash provided by operating activities remains positive.

"In addition to such financial highlights, the recently announced settlements in our patent litigation with many of the defendants demonstrate a strong recognition of the validity of our patented technologies. Our lawsuit will continue against the remaining defendants with a trial date to be rescheduled by the Court.

"A business-first approach across the U.S. coal-fired fleet has been our objective from day one and remains the basis for the new business partners that we have obtained in recent years. This strategy will continue as we intend to engage with all utilities across the U.S. who continue to use our patented technologies outside of either a license or supply agreement," continued MacPherson.

"Additional growth opportunities that we expect to see over the next 12 to 18 months include the exportation of our core technologies for mercury emissions outside of North America, including Southeast Asia, and emerging technologies that remain under development for potable water and rare earth element extraction. Our Company is keenly focused on bringing forth environmental technologies that address critical infrastructure needs in an affordable, highly effective manner. We look forward to providing updates to the market as these opportunities further develop," concluded MacPherson.