SEC 8-K filings with transcript text
Mar 4, 2025
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Birchtech Provides Fiscal 2025 Revenue Guidance
Management Expects Revenues of at Least $23 Million in 2025, Excluding Potential Cash
Received from IP Defense as well as Water Treatment Revenues
Air Business Run Rate Expected to Surpass $40 Million in 2026
CORSICANA, Texas – March 4, 2025 – Birchtech Corp. (TSX: BCHT) (OTCQB: BCHT) ("Birchtech" or the "Company"), a leader in specialty activated carbon technologies for sustainable air and water treatment, today provided preliminary revenue guidance for the fiscal year ending December 31, 2025.
For the fiscal year ending December 31, 2025, Birchtech expects revenues of at least $23 million, excluding any potential cash from legal claims in defense of the Company’s intellectual property, as well as potential revenues from the Company’s emerging water treatment business. This represents growth of at least 31%, as compared to fiscal 2024 preliminary unaudited revenues of at least $17.5 million.
“This preliminary estimate is based on the accelerating pace of revenue for our core air business line driven by our mercury emissions capture technologies,” said Richard MacPherson, CEO of Birchtech Corp. “Our market share across the coal-fired utility sector continues to increase at an impressive rate due to our patent defense and business first approach. We believe this air business will conservatively generate at least $23 million in revenue in 2025, excluding cash received from legal claims in defense of our intellectual property, or potential revenues from our highly prospective water treatment business.
“We are now experiencing strong momentum from our current air customers under contract, with multiple opportunities to scale. We are also leveraging our settlements to create new long-term customers and expect to see additional license agreements from discussions with current defendants that are now underway. Supported by these tailwinds, our air business alone is expected to achieve a run-rate of at least $40 million by the end of 2026.
“Taken together, we are on a robust growth trajectory with our air business, further supported by significant incremental potential from the water business in 2025 and beyond. We look forward to delivering upon these milestones in the quarters to come as we seek to drive sustainable, long-term value for my fellow shareholders,” concluded MacPherson.
About Birchtech Corp.
Birchtech Corp. (TSX: BCHT) (OTCQB: BCHT) is a leader in specialty activated carbon technologies, delivering innovative solutions for air and water purification to support a cleaner, more sustainable future. The Company provides patented SEA® sorbent technologies for mercury emissions capture for the coal-fired utility sector and is developing disruptive water purification technologies with a specialization on forever chemicals such as PFAS and PFOS. Backed by a strong intellectual property portfolio and a world-class team of activated carbon experts, Birchtech provides cleaner air to North American communities and is applying this expertise to a novel approach in water purification. To learn more, please visit www.birchtech.com.
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With the exception of historical information contained in this press release, content herein may contain "forward-looking statements" that are made pursuant to the Safe Harbor Provisions of the U.S. Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are generally identified by using words such as "anticipate," "believe," "plan," "expect," "intend," "will," and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. Forward-looking statements in this release include statements relating to expected developments and growth in Birchtech’s business, as well as any revenue guidance provided. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. In addition, this release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Birchtech does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance or other forward-looking statements contained in this release can be found in Birchtech’s periodic filings with the Securities and Exchange Commission or Canadian securities regulators.
Final recognized revenue for 2024 is subject to change upon finali
Mar 4, 2024
meec_8k.htm 0000728385false00007283852024-02-272024-02-27iso4217:USDxbrli:sharesiso4217:USDxbrli:shares
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 27, 2024
(Exact name of registrant as specified in its charter)
Commission file number 000-33067
Delaware
87-0398271
(State or other jurisdiction of incorporation)
(I.R.S. Employer Identification No.)
1810 Jester Drive
Corsicana, Texas
75109
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (614) 505-6115
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: None.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On February 27, 2024, Midwest Energy Emissions Corp. (the “Company”), along with its wholly-owned subsidiary, MES, Inc. (“MES”), entered into an Unsecured Debt Restructuring Agreement (the “Debt Restructuring Agreement”) with AC Midwest Energy LLC (“AC Midwest”) which replaces and supersedes the Unsecured Note Financing Agreement and Reaffirmation of Guaranty entered into with AC Midwest on February 25, 2019, as amended on October 28, 2022 (the “Unsecured Note Financing Agreement”).
Pursuant to the Unsecured Note Financing Agreement, prior to February 27, 2024, AC Midwest was the holder of an unsecured note with a principal amount outstanding of $13,154,930.61 which was issued on February 25, 2019 (the “Unsecured Note”). The Unsecured Note was scheduled to mature on August 25, 2025 and bears a zero cash interest rate. Pursuant to the Unsecured Note Financing Agreement, AC Midwest was also entitled to a “non-recourse” profit participation preference equal to $17,654,930.60 (the “Profit Share”). Prior to maturity, the outstanding principal, as well as the Profit Share, were to be paid from Net Litigation Proceeds from claims relating to the Company’s intellectual property, Net Revenue Share, Adjusted Free Cash Flow and Equity Offering Net Proceeds (as such terms are defined in the Unsecured Note Financing Agreement). Any remaining principal balance due on the Unsecured Note would be due and payable in full on the maturity date. The Profit Share, however, if not paid in full on or before the maturity date would remain subject to the Unsecured Note Financing Agreement until full and final payment.
Prior to February 27, 2024, there also remained outstanding to AC Midwest a principal balance of $271,686.10 due under a secured noted of the Company issued on November 29, 2016 in the original principal amount of $9,646,686, which had a maturity date of August 25, 2025 (the “Secured Note”). The Secured Note had been issued pursuant to an Amended and Restated Financing Agreement and Reaffirmation of Guaranty, dated as of November 1, 2016, as amended on June 14, 2018, September 12, 2019, February 25, 2019 and October 28, 2022 (the “Restated Financing Agreement”).
Pursuant to the Debt Restructuring Agreement, on February 27, 2024, the Company (i) paid AC Midwest $9,040,000 as a reduction in the outstanding principal balance of the Unsecured Note, (ii) issued to AC Midwest a new unsecured replacement note in the principal amount of $4,114,930.60 (the “New Note”), and (iii) paid AC Midwest $275,625.55 representing the remaining principal balance under the Secured Note of $271,686.10 plus interest of $3,939.45. Within 30 days, the Company shall either facilitate the private sale to third parties of certain shares of common stock of the Company held by AC Midwest for a purchase price of no less than $960,000, which amount shall be applied as a credit against the principal balance due on the New Note dollar for dollar, or pay AC Midwest $960,
Apr 20, 2023
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ME2C Environmental Reports Fourth Quarter and Full Year 2022 Results, Achieves 66% Revenue Growth YoY
Significant Revenue Increase Promotes the Company’s Expansion into New Markets & Technologies
Corsicana, TX, April 17, 2023 -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental " or the "Company"), a leading environmental technologies firm, announced today its unaudited financial results for the fourth quarter and full year 2022.
Q4 and 2022 Year-End Financial Summary
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Q4 Revenue for 2022 increased to $5.7M from $2.7M for Q4 2021, an increase of approximately $3M or 110%
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FY22 Revenue increased to $21.6M from $13M, an increase of approximately $8.6M or 66% for the full year
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Cash of $1.5M on hand and working capital of approximately $2.3M as of December 31, 2022
Management Commentary
“Our achievements during 2022 were the culmination of numerous strategic efforts that have brought forth positive advancement in several areas, including our financial position” began Richard MacPherson, Chief Executive Officer of ME2C Environmental. “Due mainly to increased product sales, 2022 represents the second year of significant revenue improvements – this last year reaching 66% year-over-year growth and exceeding the near 60% revenue increase that was achieved in 2021. As we have previously stated, we expect this rate of 50-60%+ annual growth to continue based on the strength of our core business in a stable industry, with increased energy demands from coal power and more stringent federal regulations for emissions controls, along with the execution of other growth initiatives that are currently in place.
Continued MacPherson, “If 2022 was a transitional year in our growth, 2023 will be a year of expansion as we focus on outreach with increasing our investor community across North America and abroad, moving our environmental technologies into new, large markets that support critical energy and infrastructure concerns, and introducing our patented, highly effective technologies for mercury emissions reduction to developing coal markets in other countries.
“Our trajectory onto a major stock exchange, tangible value from our patent protection, and additional business partners for our core technology, are expected to be catalysts for near-term expansion moving further into 2023, and we are excited for the potential value that these efforts will provide to our long-term shareholders,” concluded MacPherson.
The Company expects to file the Form 10-K on or before April 24, 2023. Accordingly, the information contained in this press release is preliminary and unaudited, subect to change upon finalization of the year-end audit.
Conference Call/Webcast Information
The ME2C management team will host an investor conference call and live webcast on April 17, 2023, at 4:30 PM Eastern Time. To participate, please use the following information. If joining by phone, reference the company name and conference title to the Operator:
Date: Monday, April 17, 2023
Time: 4:30 PM ET
Dial-in: 1-877-407-0789
International Dial-in: 1-201-689-8562
Call me™: https://callme.viavid.com/viavid/?callme=true&passcode=13728338&h=true&info=company-email&r=true&B=6
·
Participants can use Guest dial-in #s above and be answered by an operator OR click the Call me™ link for instant telephone access to the event.
·
Call me™ link will be made active 15 minutes prior to scheduled start time.
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1608136&tp_key=b0894c8f8e
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
A playback of the call will be available through May 17, 2023. To listen, call 1-844-512-2921 within the United States or 1-412-317-6671 when calling internationally and enter replay pin number 13737795. The replay can also be viewed through the webinar webcast link above.
About ME2C® Environmental
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. For more information, please visit http://www.me2cenvironmental.com/.
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With the exception of historical information contained in this press release, content herein may contain "forward-looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by using words such as "anticipate," "believe," "plan," "expect,
Jan 18, 2023
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January 18, 2023
ME2C Environmental Issues Shareholder Letter from CEO
Company Expects to Beat Revenue Guidance For 2022, Sees 50% Year Over Year Growth Continuing Into 2023
Corsicana, Texas--(Newsfile Corp. - January 18, 2023) - Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the "Company"), a leading environmental technologies firm, today issues the following letter to shareholders from Chief Executive Officer, Richard MacPherson.
Dear Shareholders,
The last 12 months have been an exciting growth period for ME2C Environmental. The unaudited revenues are expected to exceed our earlier projected revenue guidance for 2022 and should show revenue of $21.6 Million for the year-ended December 31, 2022. The revenue for 2022 represents a 66% growth over 2021 revenue.
Building on the recurring revenue business currently in hand, our financial results for 2023 are also expected to be strong. We anticipate the 50% plus year over year growth rate to continue through 2023 supported by expected additional license and supply contracts.
ME2C may become a very different company by 2024. We expect to have our day in court this November against several major refined coal companies, the culmination of three years of litigation proceedings that began with our initial July 2019 filing. The damage claims put forth by our legal team to the defendants and the court to date are substantial and we are confident in our position.
On top of this legal battle, there still remains dozens of operating U.S. utilities that continue use of our patented technologies without a technology license. We will be addressing these entities as part of our management of the litigation strategy going forward. This area of unrecognized business, by itself, has the potential to double our revenue base with recurring supply contracts. It is our intent to pursue this additional business vigorously as we work our way through the present litigation.
We intend for our loyal shareholders to greatly benefit as our enterprise value starts to reflect our successes. Towards that goal, we continue our progress toward uplisting to a major exchange. The results of the past year and those anticipated in 2023 and beyond should go a long way in securing this outcome organically. With our long-term debt in hand and solid operating capital and growth, the path is set for a profitable future.
Looking back, 2022 was a pivotal year that provided numerous catalysts, that included:
· Significant revenue increase of 66% compared to 2021 revenue
· Extension of all major debt through a three-year agreement with single financial partner
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Negotiated a significant stock buy-back option with financial partner to purchase up to approximately 7.5 Million shares at $.50 per share (based on current outstanding shares)
· Continue to develop and move forward new REE technologies
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Obtained additional coal-fired utilities as new licensed partnersto continue operation of our patented technologies worth potentially millions of new business revenues annually
· Continued IP momentum, including:
○ Concluded fact discovery in IP lawsuit in September 2022
○ Trial date scheduled for mid-November 2023
On behalf of our Company, I would like to state that ME2C's endurance over the past five years has been difficult although steadfast and successful. We remain a strong, stable, and growing company with an excellent leadership team and partners, both financial and legal, committed to the long-term success of our firm and its shareholders. I anticipate a tremendous year marked with continued developments, growth, and execution across multiple areas that include our core supply business and the completion of our case against the refined coal defendants. We look forward to issuing guidance to the market once we issue our full year-end results for 2022. As always, we appreciate your steadfast support.
Cordially,
Richard MacPherson
Chief Executive Officer
Final recognized revenue for 2022 is subject to change upon finalization of the Company's year-end audit review process and will be released with the Company's audited financial statements and related 2022 annual report.
About ME2C® Environmental
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 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. For more information, please visit http://www.me2cenvironmental.com/.
With the exception of historical information contained in this press release,
Mar 10, 2022
Feb 17, 2022
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ME2C® Environmental Announces Preliminary 2022 Revenue Guidance and Outlines Key Priorities and Milestones for 2022
Preliminary Revenue Expected to Increase At Least 60% Year-Over-Year for 2022
Company Reviews Key Business Highlights Achieved In 2021
CORSICANA, TX, February 16, 2022 -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the “Company”), a leading environmental technologies firm, today issued preliminary revenue guidance for full-year 2022 based on positive developments in business conditions, demand indications from major customers, and the commencement of activity under new licensing agreements. The Company expects preliminary revenue to increase 60% year-over-year for 2022 with the majority of revenue increase expected to be realized in the latter half of the year. Such guidance is based on current market conditions and assumes no further material lockdowns or shutdowns due to the COVID-19 pandemic in the major operating region where the Company sells or licenses its products.
“2021 was a year of focused execution for ME2C Environmental as we strengthened our foundation to potentially accelerate top-line revenue growth in 2022 and beyond. We continued to see very strong momentum across our end markets in Q4 and pleased to report that we expect full-year 2021 preliminary unaudited revenues of approximately $13.0 million compared to revenues of approximately $8.2 million for 2020. Moving through the next 12 months, 2022 could be our most successful year in more than five years as we see continued strength in our core business in mercury emissions capture. We currently expect at least a 60% year-over-year revenue growth for 2022 which puts our year-end revenue target in the range of approximately $20 to 22 million,” said Richard MacPherson, CEO of ME2C Environmental. “As our outreach and discussions throughout the coal-fired fleet progresses in a positive manner, we anticipate announcing additional license and/or supply agreements ramping up as we move toward the last half of 2022. Our disruptive technologies in rare earth element extraction and processing are reaching a tipping point in their development as we have continued to see positive results. We are eager to begin field-testing trials and look forward to keeping the industry and shareholders updated as we push toward commercialization later this year.”
MacPherson continued, “As we move along through the early part of the new year, we want to revisit certain key accomplishments from 2021. Last year, despite the headwinds of COVID, supply disruptions, and inflationary pressures felt throughout our industry, we were able to:
· Grow our preliminary unaudited 2021 revenues by approximately $4.8 million over 2020.
· Eliminate all convertible debt.
· Enter into debt repayment agreement with Alterna Capital.
· Gain multiple new, coal-fired utilities as licensees to continue operation of our patented technology for mercury emissions capture.
· Augment our license agreement with Vistra Corp to include new supply business. The revenue is expected to increase through 2022 based on existing coal-fired power supply demands.
· Initiate outreach to utilities believed to be using our patented technologies to present license and/or product supply options which is expected to yield new business as we move forward.
· Receive approval from the District Judge to continue our lawsuit against 16 refined coal entities with discovery now well underway.
· Complete Phase 1 of a two-phase lab test through Penn State’s College of Earth and Mineral Sciences to validate the initial lab results (2019-2021), now heading toward in-field testing in 2022.
· Participate in the formation of Eleclear, an environmental technology entity dedicated to the development and commercialization of the new rare earth and remediation technologies.
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“With the preliminary 2022 revenue guidance announced today, we believe we are well positioned to deliver significant revenue growth throughout the new year and beyond as we further capitalize on our leading environmental technologies. We continue to see strong momentum in our business and look forward to the ME2C Environmental team extending it into the year ahead. The case against the refined coal entities is progressing as expected and could be a very significant unaccounted addition to our overall growth story. On behalf of our company, we want to thank you for your continued interest and support.”
Final recognized revenue for 2021 is subject to change upon finalization of the Company’s year-end audit review process and will be released with the Company’s audited financial statements and related 2021 annual report.
About ME2C® Environmental
ME2C Environmental (OTCQB: MEEC) is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME2C’s leading-edge
Nov 5, 2021
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ME2C® Environmental Provides Recent Operational Summary and Preliminary
Third Quarter 2021 Revenues
Company Expects Q3 Revenue of At Least $4.9 Million, Representing Highest Revenue Quarter in Over Three Years
CORSICANA, TX, October 19, 2021 -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the “Company”), a leading environmental technologies firm, has provided a recent operational summary and preliminary revenue results for the third quarter ended September 30, 2021.
Operational Summary and Third Quarter 2021 Preliminary Revenue Results
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Completed Phase 1 testing of the Company’s Rare Earth Element (REE) Technology with Pennsylvania State University’s College of Earth and Mineral Sciences confirming 80-90% efficiency rate in extracting select REEs.
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Received approval from District Judge of the U.S. District Court in Delaware of the adoption of the report and recommendation of the Magistrate Judge to allow the Company to proceed with litigation claims against certain refined coal entities as named in the 2019 lawsuit providing exciting forward momentum in the Company’s significant lawsuit to rightfully protect its patented technology for mercury emissions capture.
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Signed a five-year license agreement with a utility in the Midwest U.S. to provide a non-exclusive license to certain ME2C patents for use in connection with the utility’s coal-fired power plant.
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Revenues for third quarter of 2021 are expected to increase approximately 75% to at least $4.9 million compared to revenues of $2.8 million in the same quarter last year. Final recognized revenue is subject to the Company’s quarterly review and will be released with the Company’s unaudited financial statements and related quarterly report.
Financial Guidance
Revenues in the fourth quarter of 2021 for the Company’s core business are expected to reach $4 million. For the full year 2021, ME2C expects significant growth over full year 2020 and to realize positive cash flow from operations for the foreseeable future.
Management Commentary
“While our third quarter results will be finalized and released in mid-November, we are pleased to inform the market of our preliminary results from the quarter ending September 30 and momentum heading into the last part of 2021. Our revenue from this third quarter is our highest revenue quarter in over three years; the last time our revenues exceeded $4M in any quarter was Q3 2018. Our third quarter was highlighted by substantial developments in key areas related to strategic growth initiatives. Over the last few months, we have announced additional supply agreements in our core business, mercury emissions capture, and promising results from the recent lab testing of our emerging technology in rare earth element extraction,” said Richard MacPherson, CEO of ME2C Environmental. “We are moving forward with the next testing phase in the near term, which will focus on the technology’s regeneration capabilities and will introduce real-world conditions, such as coal ash and other minerals while concurrently progressing with in-field testing in the fourth quarter.”
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MacPherson continued, “The lawsuit with refined coal entities, filed in July 2019, is moving forward with the discovery process as approved by the court earlier this month. We are pleased with the recent progress in this effort to enforcing our patent position for our shareholders. With the refined coal tax credit program concluding in December 2021, ME2C Environmental is strongly positioned to gain additional supply business from the power plants that have been using refined coal. We believe that this decade-long, billion dollar per annum program would not have been able to continue without borrowing the benefits of our patented technologies for mercury emissions capture. ME2C’s patented SEA® approach can provide a seamless transition from refined coal for these power plants.”
“Our recent revenue results have largely been driven by increased supply demands in the coal-fired market as well as new supply business with Vistra Corp. that was announced in Q2 stemming from a license agreement reached in late 2020. The fundamental growth in our mercury emissions supply business that we announced beginning late last year has taken some time to reflect in our revenues and is now beginning to take effect. Our momentum has accelerated throughout 2021, and we expect to continue growing our revenue base and to generate positive cash flows from operations going forward, ultimately generating sustainable value for our shareholders,” concluded MacPherson.
About ME2C® Environmental
ME2C Environmental (OTCQB: MEEC) is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME2C’s leading-edge services have been shown to achieve emissions removal at a significantly lower cost and with less op
Apr 24, 2017
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Midwest Energy Emissions Corp. Announces Preliminary Q1 2017 Revenues; Reiterates 2017 Revenue Guidance
Q1 2017 Revenues to Increase at Least 57% YoY to Record $5.3 Million
LEWIS CENTER, OH– April 19, 2017 – Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C" or the "Company"), a leader in mercury emissions control in North America, has provided preliminary revenue results for its first quarter ended March 31, 2017. The Company reiterated its previously issued full year 2017 revenue guidance of between $60 to $70 million.
Preliminary Q1 2017 Results
The Company expects total revenues for the first quarter of 2017 to be in excess of $5.3 million, an increase of at least 57% when compared to revenue of $3.4 million in the first quarter of 2016.
This year over year growth is primarily attributed to the Company operating all of its Mercury and Air Toxics Standard (MATS)-compliant systems under contract during the quarter. Final recognized revenue is subject to the ME2C's quarterly review and will be released with the Company's unaudited financial statements and related quarterly report.
Full Year 2017 Revenue Guidance
For the full year ending December 31, 2017, the Company reiterates expected revenues of between $60 to $70 million, based on current power demand forecasts and plant projections.
Management Commentary
“Our robust revenue growth in the first quarter of 2017 is due to the strong demand for our proprietary SEA™ Technology from coal fired power plants,” said Richard MacPherson, President and CEO of ME2C. “We believe our company has become the go-to solution in North America to help coal-fired power plants improve operational and economic efficiencies.”
MacPherson concluded: “As we have noted, the first quarter is the low watermark of the year in terms of revenue generation, as many of our customers, who are predominately located in the Southwest, are in their outage/overhaul season which typically results in a decrease in electricity generation for these winter months. That being said, we are still experiencing exceptional year-over-year growth of 57% when compared to the first quarter of 2016. Going forward, we do expect seasonality to smooth out as we secure customers in various geographic regions which customers we are continuing to aggressively pursue.”
About Midwest Energy Emissions Corp. (ME2C)
Midwest Energy Emissions Corp. (OTCQB: MEEC) delivers patented and proprietary solutions to the global coal-power industry to remove mercury from power plant emissions, providing performance guarantees, and leading-edge emissions services. The U.S. Environmental Protection Agency (EPA) 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 15, 2015. 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. For more information, please visit www.midwestemissions.com.
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With the exception of historical information contained in this press release, content herein may contain "forward-looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by using words such as “anticipate," "believe," "plan," "expect," "intend," "will," and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the gain or loss of a major customer, change in environmental regulations, disruption in supply of materials, capacity factor fluctuations of power plant operations and power demands, a significant change in general economic conditions in any of the regions where our customer utilities might experience significant changes in electric demand, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, availability of capital and any major litigation regarding the Company. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, in
Jul 12, 2016
8-K 1 meec_8k.htm
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Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 12, 2016
(Exact name of registrant as specified in its charter)
Commission file number 000-33067
Delaware
87-0398271
(State or other jurisdiction of incorporation)
(I.R.S. Employer Identification No.)
670 D Enterprise Drive
Lewis Center, Ohio
43035
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (614) 505-6115
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition.
On July 12, 2016, Midwest Energy Emissions Corp. (the Company") issued a press release which announced, among other things, information regarding results of operations for the most recently completed fiscal quarter which ended June 30, 2016. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. In accordance with General Instruction B.2. of Form 8-K, the information presented in this Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit Number
Description
99.1*
Press Release dated July 12, 2016
*Furnished herewith.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Midwest Energy Emissions Corp.
Date: July 12, 2016
By:
/s/ Richard H. Gross
Richard H. Gross
Chief Financial Officer
3
Aug 6, 2015
8-K 1 meec_8k.htm
meec_8k.htm
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 4, 2015
(Exact name of registrant as specified in its charter)
Commission file number: 000-33067
Delaware
87-0398271
(State or other jurisdiction of incorporation)
(I.R.S. Employer Identification No.)
670 D Enterprise Drive
Lewis Center, Ohio
43035
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (614) 505-6115
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition.
On August 4, 2015, Midwest Energy Emissions Corp. issued a press release which announced, among other things, information regarding results of operations for the most recently completed fiscal quarter which ended June 30, 2015. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. In accordance with General Instruction B.2. of Form 8-K, the information presented in this Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit Number
Description
99.1*
Press Release dated August 4, 2015
* Furnished herewith.
2
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Midwest Energy Emissions Corp.
Date: August 5, 2015
By:
/s/ Richard H. Gross
Richard H. Gross
Chief Financial Officer
3
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