Palm Beach, FL – February 1, 2022 – FinancialNewsMedia.com News Commentary – The environmental technology market is on course for intense growth across different verticals such as power, energy & utilities, manufacturing, retail & consumer goods, construction & building materials, government & defense, oil & gas, and others. Environmental technology includes the application of environmental sciences for the development of new technologies to monitor, conserve, or reduce environmental impacts. These technologies help prevent or mitigate pollution; manage or reduce waste streams; remediate contaminated sites; design, develop & operate environmental infrastructure; and deliver environmental resources. A report from MarketsAndMarkets projected that the environmental technology market was estimated at USD 552.1 billion in 2021 and is projected to reach USD 690.3 billion by 2026, at a CAGR of 4.6% from 2021 to 2026. The environmental technology market is on course for intense growth across different verticals such as power, energy & utilities, transportation & logistics, oil & gas, agriculture, and others. The report continued: “Solutions segment is expected to dominate the environmental technology market during 2021-2026. By component, the solutions segment is estimated to be USD 471.4 billion in 2021 and is projected to reach USD 586.7 billion by 2026, at a CAGR of 4.5% during the forecast period. The solutions segment dominated the global environmental technology market in 2020 due to the rising awareness regarding the increased carbon footprint. Active companies in the markets today include: Midwest Energy Emissions Corp. (OTCQB: MEEC), CECO Environmental Corp. (NASDAQ: CECE), Aris Water Solutions, Inc. (NYSE: ARIS), Evoqua Water Technologies (NYSE: AQUA), Montrose Environmental Group, Inc. (NYSE: MEG).
Energy source for power generation and fuel segment is expected to dominate the environmental technology market, by application, during the forecast period. By application, the energy source for power generation & fuel segment is projected to lead the market during the forecast period due to the growing demand for renewable energy technologies. 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. Industries such as manufacturing, oil & gas, automobiles, cement, chemicals, and engineering industries have started using solar power through solar PV-based captive power generation.”
Midwest Energy Emissions Corp. (OTCQB: MEEC) BREAKING NEWS: ME2C® Environmental Gains Additional Supply Business with 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 secured new supply business with a licensee of the Company’s patented Sorbent Enhancement Additive (SEA®) technology for mercury emissions capture.
The new supply business expected to continue through 2022 was gained after certain testing was completed at one of the utility’s power plants located in the Midwest. The utility entered into a license agreement with the Company 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 Midwest was announced with this utility. This additional supply business being announced today is the second new plant location under this utility’s fleet to become a direct product supply customer of ME2C in addition to the utility’s plant which had already been a direct supply customer when the license agreement was signed in 2020.
“Since partnering with this major utility as a license partner of our mercury emissions technologies, we have completed product testing to gain additional supply business,” 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 measurable benefits and bottom-line operational improvements.”
Continued MacPherson, “This new plant location operated by this significant power producer represents the second “win” toward our efforts in monetizing the value of our patents. This major utility was one of the first to enter into a license agreement in 2020 and the first to extend their agreement with one other plant announced as a supply customer in mid-2021. This is the second plant location at this utility to augment their license to operate with direct product supply of our patented SEA technology.
“Through the next year, we expect to grow our supply business with our utilities currently operating under a license agreement, as well as enhance our strong customer base with additional license and supply partners,” concluded MacPherson. 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:
CECO Environmental Corp. (NASDAQ: CECE), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, recently announced it has agreed to acquire industrial flow control leader GRC. The acquisition will be integrated into the company’s Effox-Flextor-Mader, Inc. (“EFM”) joint venture with Chartwell Investments Entrepreneur & Founder Capital, LLC (“Chief Capital”). The transaction is expected to close by April 2022, subject to customary closing conditions, and will be financed with a mix of cash, debt, and equity from the joint venture.
GRC is a worldwide leader in the engineering and manufacturing of non-metallic (rubber) expansion joints and flow control products with a highly diversified industrial customer base. With the acquisition, CECO expands its existing offering of EFM dampers and metallic expansion joints to include rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves. The addition of GRC expands the addressable market size for CECO from $200 million to $500 million.
Aris Water Solutions, Inc. (NYSE: ARIS) recently announced that its Board of Directors declared a dividend on its Class A common stock for the fourth quarter of 2021 of $0.07 per share. In conjunction with the dividend payment, a distribution of $0.07 per unit will be paid to unit holders of Solaris Midstream Holdings, LLC. The dividend will be paid on January 27, 2022 to holders of record of the Company’s Class A common stock as of the close of business on January 6, 2022. The dividend equates to $0.09 per share for the fourth quarter of 2021 pro-rated for the period following completion of the Company’s initial public offering. The distribution to unit holders of Solaris Midstream Holdings, LLC will be subject to the same payment and record dates.
“Instituting our initial quarterly dividend is an important milestone for Aris,” said Amanda Brock, President and CEO of Aris. “The dividend initiation reflects the Board and Management’s confidence that we can return cash to our shareholders while also continuing to invest in high-return growth projects and manage our balance sheet. Our existing infrastructure, scale, and customer base underpins our free cash flow generation and provides us the flexibility for a balanced capital allocation framework.”
Evoqua Water Technologies (NYSE: AQUA), an industry leader in mission-critical water treatment solutions, recently announced the closing of the previously announced acquisition of the renal business historically operated by Mar Cor Purification and Cantel Medical, subsidiaries of STERIS Plc.
Mar Cor is a leading manufacturer and servicer of medical water, commercial and industrial solutions in North America. Headquartered in Plymouth, Minnesota, Mar Cor has 27 service and regeneration facilities in the United States and Canada. Mar Cor offers significant technical expertise in designing, building, and servicing high-purity water treatment systems to an installed base of approximately 5,500 sites.
The business is expected to generate annualized revenues of approximately $180 million and adjusted EBITDA of approximately $27 million before synergies. The addition of the business will expand Evoqua’s service footprint in North America, furthering its reach into the healthcare vertical market.
Montrose Environmental Group, Inc. (NYSE: MEG) recently announced results for the third quarter ended September 30, 2021.
Third Quarter 2021 Highlights Were: Total revenue of $132.6 million increased 56.5% compared to the prior year quarter; Net income of $2.2 million compared to a net loss of $30.7 million in the prior year quarter, largely due to higher revenues and fair value adjustment charges in the prior year; Adjusted EBITDA of $21.5 million increased 28.6% compared to the prior year quarter. Adjusted EBITDA margin1 of 16.2%; and completed two strategically and financially accretive transactions in the third quarter.
“We continue to experience strong performance across our business which was evident during the third quarter as it has been in prior quarters,” stated Vijay Manthripragada, Montrose’s Chief Executive Officer. “Though we are increasing our outlook for 2021 to reflect continued outperformance, we believe it is important to anchor on our base business including a more normalized CTEH as that will be the basis for our 2022 outlook. Because Montrose continues to benefit from broader industry tailwinds and our unique strategy and position within the environmental industry, our long-term outlook remains optimistic.”
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