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Midwest Energy Emissions (MEEC)

Participants
Richard MacPherson President and CEO
Rich Gross Chief Financial Officer
Call transcript
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Operator

Good afternoon, ladies and gentlemen, thank you for standing by. Welcome to the Midwest Energy Emissions Corp.

Second Quarter 2018 Earnings Conference Call.

During today’s presentation, all parties will be in a listen-only mode. This conference is being recorded today, August 14, 2018, and the earnings press release accompanying this conference call was issued after the close of market today. is Officer, and Rich today and Richard call Financial Chief Gross. our MEXC’s CEO, President MacPherson; On

Before we in get of Emissions about information, forward-looking Corp. started, statements the I will This forward-looking regarding call read Federal conference Securities may Midwest the contain within addition laws historical statements. to meaning a Energy disclaimer

Forward-looking of are assumptions underlying statements that performance different statements historical and plans, goals, objectives, about include and statements strategies, events facts. than future other

availability might our units, and customer capital the demand, regions key utilities the include, and change conditions as gain any exclusive involve the Company. differ fluctuations the of generally power anticipate, regarding and change to of These coal where are of Forward-looking uncertainties identifying management’s identified operations major results litigation results customer, risks loss capacity our cause actual and subject to a demands, disruption cause or on intend, from that from environmental in economic of materially these experience words could such current personnel, forward-looking based electric plan, those and changes of other in the by forward-looking will, are management believe, regulations, are statements similar and in words statements a uncertainty using expect, in are means in significant factor statements and of statements. plant loss circumstances. that but to expressions, changes in statements supply factors, customer are general any significant expectations a power differ significant materially actual not Investors may statements made. the supply the the to Matters among forward-looking of cautioned major materials, disruption in of that

time-sensitive revise that forward-looking date to this Further undertake reflect reflects update of this statements contains Company future or events, as call. the the to in materially this only of call. I issues the circumstances that Exchange best yours. the In any that conference with be publicly this Company’s not conference any the filings Securities date information call could and obligation turn after concerning would financial statements like of President information management’s or analysis conference performance The addition, At the found Richard, and this MacPherson, over forward-looking does is CEO. in presentation information periodic to time, call Commission. arise to to contained affect the floor can Company’s related Richard

Richard MacPherson

for joining Thank you, you us thank operator, everyone today. and

Canada. was established significant, is arrangement sales expand our of in and on Canadian highlighted an but technology industry and to expansion allows by signing international Corporation, received in footprint as international our only announced our in second coal to value with quarter European previously their into an the efficiently a not it European the Alberta, strength quickly efforts, boilers footprint of XXXX and install exclusive also The of shows from us license network. our the Adding order second This immense one company of our massive to the quarter with customer an market. processes, we Cabot the multinational contact

and to opportunity additional contract going an have this forward. service three on orders We expand

confident tailwinds for growth partners and world-class regulatory robust the with track back, significant on we Given several and our in at our that IP portfolio, future. Europe into am reach both Asia, remain multi-national I

SEA SEA with our Europe to and who maybe capture using now to I’d our those new Cabot of emissions help overview any our Now, Company as emissions give This our SEA materials. enables technology, piece Corporation Energy North technology. compliance for SEA is technology consists before low going a patented technology short of cost. an mercury We at of captures mercury to of regulations Enhancement achieve further, mercury partner licensing well and proprietary as as which each of across Midwest plants story. special fired low America you supply and our a with ongoing with cost, plants from The blend effectively maintain brief for and well. we for Sorbent install boiler a coal like emissions Additive for equipment, sorbent

technology in conjunction highly-trained solution component in to the in important services the mercury only with of a our true gives tenured, the controlled control a edge in addition we team significant provide competitive consulting experts. Another field. SEA us team place our in is leveraging by Having technology-driven mercury market the technical

very and which Center very portfolio, covers the We most and the key a also and U.S., with EERC, all technology of is our robust patent Europe Canada, Research relationship have by of Energy Asia. Environment protected

the value for invest such responsible come individuals, years company the and development oldest We John in working as EERC the is property for to technologies intellectual well Pavlish of have in research significant the our a we the from revenues the for CTO. we bedrock Our over who XX as and and particular, believe in time invested what coal company, now technology. are biggest the of be as the one full the of of continue Company. have future Several as to of country, facilities the core are and $XX million in the development John invested excess

and to helping performance have at challenge that a of and million the million they to that invest in $X.X of know, specialized into any royalty, extremely invested paid. We continue get point their experience These or to emissions any cost a in combining $X output There to that In of we state of of Electric embedded, throughout to were patents to derailing the fees, stock. of we’ve own difficulties part sales, number portfolio. in acquiring patents mercury Units technology and that But significantly MATS the compliance. we our to of extra actually That still U.S. believe staying and compliance resources can of now license we goals patent payment or Electric an the we’ve available their From Generating experience resource confidently final we mercury would fact, approach the Generating that patents $XXX,XXX we slowdown technology-driven the in capture. due IP pending in primarily legal peak the are you in tight were also when ensure and our space. compliance pricing accomplished shares view best the Units said, benefit fees maintenance all marketplace. did from as of in purchase to over last boiler pressures year to-date, control and

clients have major shutter several We of this of in last the our early late U.S. units their one year. in also year,

fleet with However, throughout technologies balance them introduce their newly the to our we’re working acquired of XXXX. currently to

both the and focused been Europe, such testing and expansion this for on in geographic one are focused also field, of but North we’ve So demonstrating this America of U.S., at enter we’ve plans. beginning and actually to extremely in Europe. clearly as some the time one major now the in Outside geographies these on been target

is coal become result to technical of staring expect year. by standard Europe to with EGUs. fired XXXX a compliance a X,XXX opportunity coal and X,XXX significant this substantial, convention these market we Europe’s with the As approximately includes Minamata

of leverages we both part, Cabot capital in Corporation, licensing scrubber, capture Corporation noted two established April. meaningful as I to European the are which additions extends which opening well with Cabot technologies, to will through This remarks, agreement my expected additive be we we’ve model line. proven addressing as our in license technologies announced As proprietary mercury market provide a of product

for Our process Europe. in technology network, our of at adoptable partner’s a and demonstration opportunity already sites global to plant conducted this engaged are and sales number massive for visit different rapidly see global reach presents a technologies, the we’re the throughout initial immense agreement

the strength profits We’re in excited such technology, for with to with the the technology going starting business to agreement cost a of financial to materially ramping it to up whether as perspective tailwind revenues now offer and long-term. from XXXX is is and corporate our positive be symbolic expected leader our EGUs. and over Cabot This solutions reduce partner reaffirming and our increase

addition in these to providing as Asia initiatives on stages We global look elsewhere. such for to several and other of agreements, key different In further updates negotiation forward the this, appropriate. we’re markets similar as

As Poland in Krakow, our international expert Senior Chief reach mercury at John Officer, broaden conferences specializing presenting was we’ve Workshop a VP recognized mercury. Pavlish, application especially presented of to event a of which at XX coals, the MEXC’s source. proprietary Europe’s efforts capture market the of primary been was mercury in speaker internationally, MEC and low-rank featured May, gathering the in our coal with capture the our a technology, of widely Technical and such control part reduction as experts emission the international

Jamie addition, the Commercial in announced in fall. EU upcoming In the Fessenden, a he Corporation’s well joint this introduced licensing as be Director. we jointly will And MEXC-Cabot Cabot conference promoting recently arrangement presenting with

we’ve the announced, As having of our the U.S. customer boilers we in first Canada secured in expansion have previously which first under also outside XXXX was contract several

in plant Canada. and we provide this same Canada. this secured of install have Alberta, at from to if both another since is and XXXX additional Canadian location. Installation remain announce with April, in relationship the States our us continue another United progress that there at We in develop to pleased are order customer We’ve operations they with technologies projects worked Canadian multiple successful, and that to EGUs customer new three the across

been it’s So, the work clear that for pleased them. doing they’re with we’ve

been XXXX Canada the to creation first to and over over significant of Rich? IP the portfolio. like it we’ve clearly, I progress our with turn far side numbers. our well very as Rich the in active thus CFO, to in So, significant international of value both Europe run things in as part in

Rich Gross

Thanks, Rick.

generate discussed, previously from sources. As three primary we our revenue

XXXX XXXX expenses during million This primary associated the XXXX consulting, sales, recognize Total of $X.X we typically to June and decrease the provide compared XXXX products and nature materials ago of to income quarter. second million then in and operating $X.X the quarter in current of $X.X ago year the million $X.X or the was site. was sales negative to the quarter of the three EBITDA was of in quarter. is customer XXXX and $X.X million second million XXXX quarter in to quarter. million of the diluted $X.X the quarter million $X.X decrease XXXX Operating as – Adjusted revenue quarter and was in of same XXXX in compared year the loss were XX, June respectively. XXXX. same loss compared of demonstration quarter million in the equipment $X.X recurring $XX,XXX with second of Net December positive we ended second second supply third months XXXX which compared share compared million $X.X March in per $X.X $X.XX XXXX $X.X our of revenue cash apologize. second ongoing net to in supply million the XXXX. Cost XX, in on $X.X equivalents I First, and On million had in to income are in XX, and cash in million and

support mindful forward. Rick? of cash Richard. enough the position resources that our with over turn back we have confident and I’ll We to operations And planned are moving to call our

Richard MacPherson

and where way as got you, amongst our a you by addressing pursue side opportunity importantly, are But to work us for and Europe many growth on we major accelerate forward penetrate with we’re opportunities with network our immense Canada Thank international I’ll market global and and Yes. basis. others that IP global pollution to paving player we’ve forward our move market airtight now, we penetration the got positioned reach this intentional package as mercury robust Rich on to the these significant a move Last sales allow with such plans. challenges the very we’ve currently conclude in most with with sharing as European. inherent a folks we a Cabot, throughout will and to

to once thanks to again we for update folks, in Thanks again. the progress forward month. So us today particular our look and joining upcoming continuing in

Operator

This concludes conference. today’s

your time. Thank you at lines your disconnect may You for this participation.