Midwest Energy Emissions Corp, known by its trade name ME2C Environmental (OTCQB:MEEC) announced that it expects its preliminary revenue to increase 60% year-over-year to about $20 million to 22 million for 2022, with the majority of the revenue increase expected to be realized in the latter half of the year.
The company said its preliminary guidance is based on positive developments in business conditions, demand indications from major customers, and the start of activity under new licensing agreements, presuming no further material lockdowns or shutdowns due to the coronavirus (COVID-19) pandemic in the major operating region where it sells or licenses its products.
“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 million compared to revenues of approximately $8.2 million for 2020,” ME2C Environmental CEO Richard MacPherson said in a statement.
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“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,” MacPherson added.
ME2C Environmental noted it anticipates announcing additional license and/or seeing supply agreements accelerate as it moves toward the last half of 2022.
The company added that it believes it is well-positioned to deliver significant revenue growth throughout the New Year as its disruptive technologies in rare earth element extraction and processing are “reaching a tipping point in their development”.
ME2C Environmental is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry.
The company’s leading-edge 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 by-products for beneficial use.
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