Midwest Energy Emissions Corp. New (MEEC) Reports In-Line Q1 EPS, Revenues Beat
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Midwest Energy Emissions Corp. New (OTC: MEEC) reported Q1 EPS of ($0.01), in-line with the analyst estimate of ($0.01). Revenue for the quarter came in at $3 million versus the consensus estimate of $2.4 million.
“The first quarter of 2021 signaled an incredibly strong start to what we believe will be a breakthrough year for ME2C as we make progress towards full monetization of our patented technologies across the U.S. coal-fired power fleet,” said Richard MacPherson, President & Chief Executive Officer of ME2C Environmental. “The new administration has driven a renewed impetus towards environmental regulatory compliance, driving strong inbound interest to our patented suite of emissions control solutions. We are well positioned to continue building a solid, recurring revenue base of strong margin licensing and supply agreements with tier-1 utilities nationwide.
“Our litigation strategy in particular has been very successful thus far, having signed agreements with four major U.S. coal-fired producers named in the lawsuit. We are currently focused on maximizing this litigation strategy with the refined coal operators named as defendants in our 2019 lawsuit, and we believe the proprietary nature of our solutions supports a robust defense of our patents that could lead to significant monetization potential. Our intention is to be long-term business partners with utilities who rely on our processes and leverage our team’s deep knowledge and expertise to improve their plant efficiencies – creating cleaner, more sustainable communities for all.
“While the mercury emissions capture business remains the foundation of our business today, we look forward to the testing of several new emissions control technologies in the near-term to round out our suite of solutions for the broader energy space. These state-of-the-art technologies - which focus on rare earth element capture, wastewater or soil remediation, and methane gas emissions control - offer promising solutions to the most pressing issues facing our world today. We are incredibly proud to be working on the forefront of the cleantech industry and look forward to creating sustainable value for our shareholders, our customers and their communities over the long-term,” concluded MacPherson.
For earnings history and earnings-related data on Midwest Energy Emissions Corp. New (MEEC) click here.
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