Palm Beach, FL – February 10, 2022 – FinancialNewsMedia.com News Commentary – The quick rise in the R&D element of finding ways to protect and heal the environment, has spurred the Environmental Control Systems Market to new heights. A report from Global Industry Analysts projects that the Global Environmental Control Systems Market will reach $4.6 Billion by 2026. It said: “Amid the COVID-19 crisis, the global market for Environmental Control Systems estimated at US$3.6 Billion in the year 2020, is projected to reach a revised size of US$4.6 Billion by 2026, growing at a CAGR of 4.2% over the analysis period. Rotary, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Fixed segment is readjusted to a revised 3.7% CAGR for the next 7-year period. The U.S. Market is estimated at $1.1 Billion in 2021, while China is forecast to reach $821 million by 2026. The Environmental Control Systems market in the U.S. is estimated at US$1.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$821 Million by the year 2026 trailing a CAGR of 3.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.” Active companies in the markets today include: Midwest Energy Emissions Corp. (OTCQB: MEEC), Evergy, Inc. (NYSE: EVRG), FirstEnergy Corp. (NYSE: FE), MP Materials Corp. (NYSE: MP), Clean Harbors, Inc. (NYSE: CLH).
A report from another source, MarketsAndMarkets added: “The energy source for power generation and fuel segment is projected to lead the market during the forecast period due to the growing demand for renewable energy technologies. Also, electricity generation using renewable sources such as wind energy, solar energy, and geothermal energy is gaining momentum in all the sectors, including commercial and industrial, globally. Based on technological solutions, the greentech/renewable energy segment dominated the market in 2020 and is expected to reach USD 213.3 billion by 2026, at a CAGR of 4.7% during the forecast period. The high demand for the greentech/renewable energy segment can be attributed to the increasing demand for carbon footprint management services. The industrial segment is projected to grow from USD 547.1 USD billion in 2021 to USD 683.5 billion by 2026. Under industrial segment, the power, energy & utilities industry is the largest consumer of environmental technologies during the forecast period. The large market share of the power, energy & utilities industry is majorly due to the rising renewable energy sector.
Midwest Energy Emissions Corp. (OTCQB: MEEC) BREAKING NEWS: ME2C® Environmental Gains New Supply Business at Another Midwest Plant Operated by Large Utility Customer, Patented Mercury Emissions Technology Licensee – Midwest Energy Emissions Corp. (“ME2C Environmental” or the “Company”), a leading environmental technologies firm, today announced that the Company has received new supply business with a licensee of the Company’s patented Sorbent Enhancement Additive (SEA®) technology for mercury emissions capture. The utility’s license allows for their continued operation of the Company’s patented technologies.
The new supply business, expected to continue through 2022, was gained after product testing was completed in late 2021. The utility was initially granted a license agreement in 2020 that would allow continued operation of the Company’s patented mercury capture technologies. In mid-2021, a new supply contract for a plant in the Southwest was announced with this utility. On February 1, 2022, the Company announced a second plant location owned by this major utility to become a direct product supply customer of the Company in addition to the utility’s plant which had already been a direct supply customer when the license agreement was signed in 2020. The additional supply business being announced today represents the third new plant location under this utility’s fleet to become a direct product supply customer of ME2C Environmental.
“Since providing this significant utility a license to operate our mercury emissions technologies, we have gained additional supply business driven by the measurable benefits that working with ME2C directly provides,” stated Richard MacPherson, Chief Executive Officer of ME2C Environmental. “Adopting a business-first approach across the coal-fired industry, a license to operate our patented technologies allows for continued operations of our innovative approach to mercury emissions capture. Working with us directly as a supply customer provides the plant with additional efficiencies and bottom-line operational improvements.”
Continued MacPherson, “This third plant location operated by this significant power producer represents momentum in our efforts to monetize the value of our patents and in improving the environmental effects of coal-fired power generation. This major utility was one of the first to enter into a license agreement in 2020 and the first to extend their agreement with another plant for direct supply business which was announced in mid-2021. CONTINUED… Read the MEEC full press release by going to: https://ir.me2cenvironmental.com/press-releases
In other news and developments of note in the markets this week:
Evergy, Inc. (NYSE: EVRG) recently announced it will release its 2021 fourth quarter earnings Friday, February 25, 2022, before market open. The company plans to host its quarterly conference call and audio webcast to discuss the results Friday, February 25, 2022.
In conjunction with the earnings release and conference call, the company plans to post on its website supplemental financial information related to fourth quarter 2021 performance. The materials will be available under Supplemental Materials in the Investors section of the company website at investors.evergy.com.
Penn Power, a FirstEnergy Corp. (NYSE: FE) electric company, recently reported that it is upgrading and expanding its power system in Butler County, Pennsylvania, to support the future energy demands of the area’s rapidly growing population and help prevent lengthy service disruptions during severe weather. Work underway includes construction of a new 8,000-square-foot distribution substation and installation of automated equipment and technology in substations and along power lines serving more than 20,000 customers in parts of Cranberry, Mars, Evans City, Jackson Township and nearby areas.
“This is an exciting time for economic development in our region as more people realize Butler County is a great place to live and work,” said Scott Wyman, president of FirstEnergy’s Pennsylvania operations. “We’re proud to help advance development in the region while strengthening our system to meet the growing demand for safe and reliable power for many years to come.”
MP Materials Corp. (NYSE: MP) recently announced it will release its financial results for the fourth quarter and full year ended December 31, 2021, after the U.S. markets close on Thursday, February 24, 2022.
MP Materials’ management will host a conference call and webcast that afternoon at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss and answer questions about the Company’s financial results. Prior to the conference call and webcast, the Company will issue a press release and post a slide presentation at https://investors.mpmaterials.com/.
Clean Harbors, Inc. (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, recently announced it will host its fourth-quarter and full-year 2021 financial results conference call on Wednesday, February 23, 2022 at 9:00 a.m. ET.
On the call, Chairman, President and Chief Executive Officer Alan S. McKim, Executive Vice President and Chief Financial Officer Michael L. Battles, and Senior Vice President of Investor Relations Jim Buckley will discuss Clean Harbors’ financial results, business outlook and growth strategy.
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