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Midwest Energy Emissions Corp. (OTCMKTS:MEEC) Stock Sees Bullish Action: Soars 21%

Ash K , , , ,

Shares of Midwest Energy Emissions Corp. (OTCMKTS:MEEC) were among the top winners and gained 21%.

Market Stats

On Tuesday, MEEC stock soared 21.28% to $0.57 with more than 148K shares, compared to its average volume of 115.80K shares. The stock has moved within a range of $0.4940 – 0.6000 after opening trading at $0.4940.

Midwest Energy Emissions Corp Gets More Supply Business with Large Utility Plant

Midwest Energy Emissions Corp., (OTCMKTS:MEEC) one of the leading environmental technologies, announced on February 01, 2022 that they have acquired new supply business with a licensee of the company’s patented Sorbent Enhancement Additive (SEA) technology for mercury emissions capture.

The new business is expected to continue through 2022. It was secured after completion of testing at one of the utility’s power plants situated in the Midwest. A license agreement was inked between the utility and Midwest Energy Emissions, back in 2020, so the company could continue operating with its patented mercury capture technologies.

In the middle of last year (2021), a new supply contract for a plant in the Midwest was drafted with this utility. The additional supply business that just been announced is the second new plant location under this utility’s fleet. It is set to become a direct product supply customer of Midwest Energy Emissions, along with the utility’s plant (as per agreement signed back in 2020).

Richard MacPherson, Chief Executive Officer of Midwest Energy Emissions, states that partnering with the major utility is a step towards gaining more supply business after successful completion of product testing. They have adopted a business-first approach in the coal-fired industry, so a license to operate the patented technologies ensures consistent operations of their innovative strategy to mercury emissions capture.

Traders Corner

MEEC stock is below the 50-Day and 200-Day Moving averages of $0.61 and $0.85 respectively. The stock is trading in the neutral zone with the RSI at 52.