Midwest Energy Emissions Corp (OTCMKTS:MEEC) Stock Falls 6% In a Week: Secures New License Agreement

Midwest Energy Emissions Corp (OTCMKTS:MEEC) is down 6% in a week. ME2C has announced the signing of a 5-year license agreement with a Midwest utility to offer a non-exclusive license to particular ME2C patents for use in relation to the utility’s coal-powered plants.

Market Stats

On Tuesday, MEEC stock moved up 1.04% at $0.7225 with more than 20K shares, compared to its average volume of 106k shares. The stock has moved within a range of $0.7100 – 0.7400 after opening trading at $0.71.

Secures New License Agreement Of Its Patented Technology With Midwest Utility

According to the Texas-based firm, the licensed patents relate to ME2C’s 2-part Sorbent Enhancement Additive mercury removal process from coal-powered plants. Notably, the 5-year licenses deal includes payment of a one-time sum to ME2C to utilize its patented mercury emissions capture processes.Equally, the agreement provides the company with a chance to compete for product supply in the coming months.

ME2C CEO Richard MacPherson stated that starting a new relationship with a new licensee marks an exciting process for the company and further enhances the strength of the company’s core business. MacPherson added that through the recent outreach across the coal-powered fleet supported by their patent law firm, the company’s license claims for the patented mercury capture process are growingly being validated by the utility sector in the US. As a result, investors should keep an eye on MEEC.

Key Quote

“Beginning a new relationship with yet another new licensee marks exciting progress for our company and further adds to the strength of our core business,” said Richard MacPherson, CEO of ME2C in a statement.

Traders Corner

MEEC stock is below the 20-Day and 50-Day Moving averages of $0.80 and $0.80 respectively. The stock is trading in oversold zone with the RSI at 35.  The stock is down 17% in the past month.