($MEEC) is now Birchtech ($BCHT) - Press Release

Company Overview

Birchtech is an environmental technology company innovating for a cleaner, safer planet with advanced mercury emission control, and sustainable potable water treatment.

Our proprietary SEA® Technologies leverages cutting-edge science and engineering to develop tailored systems that effectively capture and remove harmful contaminants for our environment.

Our Mission

Innovate for a Healthier Planet

Birchtech is on a mission to lead the charge in purifying water and air. With our rapid testing and analysis capabilities, combined with our commitment to low ash and low arsenic solutions, we are relentlessly pushing the boundaries of innovation in clean water technology. Leveraging 169 years of collective clean tech experience, we are excited to bring our legacy of pioneering solutions into the water sector.

Key Milestones in Our Journey

Discover our journey marked by major milestones and groundbreaking innovations over the past few decades.

2008-2017
2018
2019-2024
2023-2024
Present

2008-2017

Our Beginnings

  • SEA® technologies were developed in a collaborative project between the U.S. Department of Energy (DOE) and the University of North Dakota (UND) and have been further developed by ME2C since 2008. From government and academia involvement, the SEA technologies became globally recognized as a “BACT” (Best Available Control Technology) for mercury emissions capture.
  • ME2C Founder, Richard MacPherson, through an affiliation with the UND, obtained the licensing rights to commercialize the SEA technologies and Midwest Energy Emissions Corp (ME2C) was born in 2008.
  • In 2012, ME2C completed a raise with Oppenheimer and became publicly listed on the OTCQB under “MEEC”.
  • ME2C achieved early commercialization of the SEA technologies, performed numerous in-field demonstrations with major power plants across the U.S., and achieved significant growth.
  • The U.S. Environmental Protection Agency (EPA) federal mandate enforcing the reduction of certain harmful emissions, including mercury, took effect in 2016. As a result, ME2C’s customer base grew significantly across the U.S. power sector, reaching $32M by 2017. This growth led to ME2C’s construction of its second manufacturing center in Texarkana to support the expected continued increase in customer growth.
  • With over $65M invested in SEA technologies, ME2C fully acquired the patent portfolio in 2017. However, by 2018, the company’s revenues began to significantly decline due to widespread infringement of these patented technologies.

2018

Launch of ME2C Environmental & Emerging Technologies

  • From more than a decade of working with coal-fired power plants, the Company realized that the cleanup of coal ash (coal waste created by coal-fired power plants) would become a critical challenge for the industry due to the significant cost and vast amounts of coal ash to be disposed. ME2C estimated that roughly 1,100 coal ash ponds existed across the U.S. Not only were these ponds heavy with contaminants, but it has also been known for some time that coal ash is rich in critical minerals and rare earth elements. However, this rich source has remained untapped due to the industry’s inability to efficiently and cost-effectively extract REEs from coal ash and acid mine drainage. In 2018, initiated the development of new technologies focused on rare earth element extraction in an effort to provide an affordable, environmentally friendly approach to remove REEs and offset the cost of coal ash cleanup. By 2024, R&D lab tests have yielded positive results and development remains in progress pending the inception of in-field trials.
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  • To better align ME2C’s public perception of the Company’s expansion into new environmental technologies, ME2C rebranded to “ME2C Environmental”.

2019-2024

Protecting our Patented Technologies

  • Due to the continued patent infringement, ME2C initiated a patent infringement lawsuit against 44 defendants, which included four major utilities and numerous refined coal companies, to protect its intellectual property and shareholder value.  The legal outreach effort expanded nearly six years and concluded in mid-2024.  IP Settlements were reached between 2020-2024 with major defendants including all four utilities, AJG, DTE, and Alistar entities. In early 2024, the company was awarded $57 Million in a unanimous jury verdict, which found the defendants guilty of willful infringement.  The final ruling from the U.S. District Court Judge is expected during Fall 2024.
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  • After filing the lawsuit in 2019, ME2C began a strategic legal outreach effort managed by its law firm, Caldwell Cassady Curry, LLP, and gained eight new business agreements from IP outreach with major U.S. utilities from 2020 through early 2021. From 2020 through 2022, ME2C maintained a 50% YoY growth rate in recurring revenue from IP enforcement successes and increased demand from coal-fired power. ME2C turned profitable, with positive cash flow and year-end revenues exceeding $21.6M in 2022.

2023-2024

Expansion Into New Markets & Technologies, Financial Improvements

  • With numerous long-term shareholders based in Canada, ME2C began a strategic initiative to further expand it’s shareholder base in the Canadian market, which was enabled by a new public listing on the Toronto Stock Exchange Venture Board (TSXV) under the ticker “MEEC” and announcement of a new Toronto-based investor relations firm, Adelaide Capital. The TSXV listing allows for larger trading activity by investors across North America and other countries, such as Europe and Asia who are unable to access the OTCQB exchange.
  • In 2023, a new activated carbon technology for the removal of PFAS ('forever chemicals') from potable water was entered into development becoming a major focus for the company’s near-term growth strategies.
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  • In 2024, the WE2C Environmental division was announced, along with the appointment of Dr. David Mazyck as Division Director and Dennis Baranik as National Director of Sales, to support the commercialization of the company’s emerging potable water treatment technologies.
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  • U.S. EPA issues new PFAS and PFOS limits in 2024 with implementation starting in 2027.
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  • In early 2024, ME2C improved its financial profile with the repayment of a substantial portion of unsecured debt with its principal financial partner and restructured the remaining unsecured obligations including the reduction in the non-recourse profit share held by the lender from $17.7 million to $7.9 million and provided the Company the exclusive right to facilitate the sale of all or a portion of the remaining balance of common stock held by the lender and is entitled to receive certain dollar-for-dollar credits from these sales.

Present

Present Growth Strategies

  • In mid-2024, ME2C continued an outreach effort to U.S. utilities using SEA® technology without a license. The company continues to enforce the protection of their patented technologies across the U.S. coal fleet and expects to obtain new additional licenses and/or supply agreements through 2024.
  • ME2C is actively working to increase shareholder value with listings on larger exchanges in 2024/2025.
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  • New activated carbon products are expected to be introduced to the industry during late 2024 through 2025.
  • WE2C’s activated carbon plant is anticipated to begin construction during 2025.

Core Values

Innovation

Driving progress with creative, highly effective & sustainable technologies.
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Integrity

Adhering to the highest ethical & transparent practices.

Sustainability

Dedicated to ecological stewardship and a sustainable future.

Excellence

Committed to superior quality and innovative outcomes.

Collaboration

Gaining market share through thoughtful teamwork and strategic partnerships.

Evolving with Purpose

Birchtech, formerly known as Midwest Energy Emissions Corp, started with a focused mission to reduce mercury emissions from coal-fired power plants using an innovative sorbent technology that now sets the global standard as the 'best available control technology' (BACT). Our evolution to Birchtech signifies a critical expansion, embracing a wide range of environmental technologies, particularly in water purification. This development underscores our commitment to tackling a variety of environmental challenges with cutting-edge solutions.

Evolving with Purpose

Birchtech, formerly known as Midwest Energy Emissions Corp, started with a focused mission to reduce mercury emissions from coal-fired power plants using an innovative sorbent technology that now sets the global standard as the 'best available control technology' (BACT). Our evolution to Birchtech signifies a critical expansion, embracing a wide range of environmental technologies, particularly in water purification. This development underscores our commitment to tackling a variety of environmental challenges with cutting-edge solutions.

Get In Touch

Connect with us to shape a cleaner tomorrow.

Birchtech Corp. is dedicated to advancing clean technology through innovative solutions in air and water purification. As the parent company of ME2C and WE2C, we lead with a commitment to continuous development and refinement of our patented technologies, driving industry advancements and setting new standards for a cleaner, safer future.

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