Midwest Energy Emissions Corp Business Update
Sep 29 2015
Midwest Energy Emissions Corp, an emerging leader in mercury emissions control technology for the global coal-power industry, recentlyprovided a general business update for investors and shareholders.
"We are pleased to update the marketplace with our operational results for August 2015, prior to our upcoming third quarter earnings report," said CEO Richard MacPherson.
The Company reported that monthly revenues for August 2015 exceeded $1.5 million, the second-highest revenue total for the year. "During the month, we also finished the installation and commissioning of our sixth front end-injection system and achieved product sales of approximately $900,000. We also achieved positive operating profit and earnings before interest, taxes, depreciation and amortization (EBITDA) for the month," MacPherson said.
MacPherson continued, "Our revenues and activities in the field are on an upswing as we respond to the needs of our customers. As our company continues its growth, we are seeing the expected results in our sales margins, operating profit line and cash flows, in which we achieved our second best monthly results in company history during August, and continued strengthening of our balance sheet. While one month's results are insufficient to project a trend, we look forward to announcing the upcoming quarter results which we expect will reflect these efforts more fully."
Midwest Energy Emissions Corp. delivers patented and proprietary solutions to the global coal-power industry to remove mercury from their power plant emissions, providing performance guarantees and leading edge emissions services. The U.S. Environmental Protection Agency's (EPA) Mercury and Air Toxic Standards (MATS) rule requires that all coal- and oil-fired power plants in the U.S., larger than 25 mega-watts, must remove roughly 90% of mercury from their emissions starting April 16, 2015. In June 2015, the U.S. Supreme Court remanded MATS back to the U.S. Court of Appeals for the D.C. Circuit for further review, but left the rule in place. ME2C has developed patented technology and proprietary products that have been shown to achieve mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than currently used methods, while preserving the marketability of fly-ash for beneficial use.
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