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Midwest Energy Emissions Corp. (OTCQB: MEEC) has partnered with Pennsylvania State University to evaluate its Rare Earth Element (REE) Technology, which aims to improve the capture and regeneration of rare earth elements. The evaluation will occur from June to September 2021 and seeks to validate the technology's efficiency and commercial viability, crucial for U.S. infrastructure amidst increasing demand for these minerals. Currently, 80% of REEs are imported from China, indicating a significant market opportunity as the U.S. pushes for electric transportation.
Midwest Energy Emissions Corp. (OTCQB: MEEC) announced a debt repayment agreement with AC Midwest Energy LLC, aimed at enhancing its financial position ahead of a planned uplisting. The Company will repay $0.3 million in secured notes and $13.2 million in unsecured notes, utilizing a mix of cash and stock. This initiative will eliminate over $13.5 million in debt, improving the balance sheet and creating sustainable long-term value for shareholders. Completion of the transaction relies on specific closing conditions, with further details to follow in a Form 8-K filing.
Midwest Energy Emissions Corp. (OTCQB: MEEC) will present at the LD Micro Invitational XI investor conference, scheduled for June 8-10, 2021. Richard MacPherson, President and CEO, will host a virtual presentation on June 10 at 3:00 p.m. ET. This presentation will highlight MEEC's innovative emissions solutions for the global power industry, showcasing their patented technologies that offer cost-effective and efficient emissions removal while enhancing power plant output. A live audio webcast and archive will be accessible for those interested.
Midwest Energy Emissions Corp. (OTCQB: MEEC) announced that a U.S. District Court in Delaware has allowed its patent litigation against 16 refined coal process defendants to proceed. This decision follows the company's assertion of patent infringement related to its mercury capture technologies. CEO Richard MacPherson expressed confidence in the legal outcome and highlighted successful litigation against major utility defendants. The company is also focusing on strengthening its balance sheet, reducing debt, and exploring new growth opportunities in emissions solutions.
Midwest Energy Emissions Corp. (OTCQB: MEEC) announced a remarkable 171% revenue increase year-over-year for Q1 2021, totaling $3.0 million, driven by sorbent product sales. The company has entered licensing agreements with four major power producers and secured a new $2 million supply agreement. Despite a net loss of $0.4 million, improvements in Adjusted EBITDA to $69,000 signal positive operational momentum. MEEC is poised for growth, focusing on new technologies for emissions control and continuing its litigation strategy for monetizing patents.
Midwest Energy Emissions Corp. (OTCQB: MEEC) has appointed Jami Satterthwaite as Chief Financial Officer, effective June 1, 2021. Previously the Chief Accounting Officer, Satterthwaite, a CPA with extensive experience, has been recognized in the CPA Practice Advisor '40 Under 40.' This appointment is crucial for the company's intended uplisting to a major exchange, as emphasized by CEO Richard MacPherson. Satterthwaite’s contributions to budgeting and financial planning are expected to enhance the company's financial trajectory.
Midwest Energy Emissions Corp. (OTCQB: MEEC) will hold a conference call on May 17, 2021, at 5:00 PM ET to discuss its Q1 2021 financial results. The call will follow a press release detailing these financials. MEEC specializes in environmental technologies for the power industry, offering cost-effective solutions for emissions removal. The company emphasizes its patented services that enhance power plant performance while maintaining byproduct marketability. Forward-looking statements in the release highlight potential risks affecting future performance.
Midwest Energy Emissions Corp. (OTCQB: MEEC) has announced its participation in the Planet MicroCap Showcase from April 20-22, 2021. CEO Richard MacPherson will host a virtual presentation on April 22 at 2:00 p.m. Eastern time, in addition to one-on-one meetings with investors. The showcase aims to connect promising companies with investors through presentations and panels. MEEC specializes in environmental technologies, offering solutions that significantly reduce emissions costs while maintaining power plant output.
Midwest Energy Emissions Corp. (MEEC) reported a decrease in total revenue for 2020, totaling $8.2 million compared to $11.4 million in 2019, attributed to reduced coal-fired generation. The fourth-quarter revenue was $2.3 million, down from $2.5 million the previous year. Despite the challenges, they announced new agreements with power producers for licensing their patented technologies, potentially leading to future revenue. The company also reported a net loss of $5.8 million for the year and a significant development in new environmental technologies.
Midwest Energy Emissions Corp. (OTCQB: MEEC) announced advanced technologies aimed at improving rare earth element (REE) production in North America. The global REE market was valued at approximately $13.2 billion in 2019, projected to grow at 10.7% annually through 2026. Currently, the U.S. relies on imports for all REEs, predominantly from China. The company's innovative extraction process is designed to enhance efficiency and reduce environmental impact, with pilot testing expected soon, which could revolutionize the industry.