The company estimates that this three-year supply contract will generate revenues of $4 million annually starting in early 2016 with initial system installation revenues of $ 2.4 million in 2015.
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, remove roughly 90% of mercury from their emissions by April 16, 2015, or in some cases April 2016. ME2C employs patented technology that has been shown to achieve mercury removal levels compliant with MATS at a significantly lower cost and with less operational impact than currently used methods
CEO Alan Kelley stated, "This is our company’s third contract win in the quarter, totaling eleven large-sized units. This particular contract award comes about because of the very powerful solution that we deliver, which succeeded in achieving a cost-effective, dramatic reduction in mercury that was needed at this plant."
Kelley continued, "I am delighted that all of the hard work that our team has put forth in demonstrations is now winning long-term business contracts, and winning the trust of these coal-power utilities. MATS presents another regulatory hurdle for coal power plant owners, but one that we can help them manage in the most cost effective manner in the market today. I look forward to sharing further market share growth and business wins in the coming months and years."
