Midwest Energy acquires patent rights for $2.5m, stock

Midwest Energy Emissions Corp (ME2C) said it acquired all patent rights for its Sorbent Enhancement Additive (SEA) mercury emissions control technology from the Energy & Environmental Research Center Foundation (EERCF).

ME2C acquired the rights for $2.5 million and 925,000 shares of common stock in ME2C.

Richard MacPherson, CEO of ME2C, said: “We are proud to have achieved this acquisition, which covers our proprietary two-part process for mercury control.

“The patents provide us with additional growth and revenue-generating opportunities throughout North America, and we are looking forward to continuing to deliver first-class technology to our clients.”

The SEA Technology was originally developed by the University of North Dakota Energy & Environmental Research Center (EERC).

“As long-time partners of ME2C, we are pleased to have witnessed their growth firsthand and the industry’s positive response to their innovative technology,” said Tom Erickson, EERC CEO.

“ME2C’s continued success furthers a key goal of the EERC, and the EERCF, to develop market-based clean air solutions.

“This technology goes a long way in helping coal fired utilities improve their environmental performance in a cost-effective manner.”

MacPherson added: “This acquisition positions ME2C perfectly to continue its growth across North America, including the licensing of systems using a two-part process here in the United States and Canada.”