Company Dismisses Litigation Against such Parties; Action will Continue Against the Remaining Defendants
Corsicana, Texas--(Newsfile Corp. - November 13, 2023) - Midwest Energy Emissions Corp. (TSXV: MEEC) (OTCQB: MEEC) ("ME2C Environmental " or the "Company"), a leading environmental technologies firm, announced today that it has entered into a confidential binding term sheet with Arthur J. Gallagher & Co., and various of its affiliated entities (collectively "AJG"), and DTE Energy Resources LLC and various of its affiliates entities (collectively "DTE"), to resolve the ongoing patent litigation which was initiated in July 2019 by the Company against such parties and others in the U.S. District Court for the District of Delaware. Such term sheet does not affect any other claim brought against any other remaining party.
Pursuant to the term sheet, the Company, on the one hand, and AJG and DTE, on the other, have dismissed with prejudice all claims and counterclaims asserted between the parties in the action. The financial aspects of the term sheet remain confidential pursuant to its terms.
The Company also announced that the Court has ordered that the trial as to the claims against the remaining defendants (the CERT defendants), which was scheduled to begin Monday, November 13, 2023, be rescheduled for a later date via a further order of the Court.
The Company indicated that Alistar Enterprises, LLC ("Alistar"), one of the remaining CERT defendants, has also entered into a settlement agreement with the Company subject to the approval of the Court, and that all claims and counterclaims asserted in the action between the Company and Alistar be dismissed with prejudice. The financial terms of such settlement remain confidential.
About ME2C® Environmental
ME2C Environmental is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME2C's leading-edge mercury emissions technologies and 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 byproducts for beneficial use. ME2C Environmental is a trade name of Midwest Energy Emissions Corp. For more information, please visit http://www.me2cenvironmental.com/.
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ME2C Environmental Contact:
Main: 614-505-6115 x-1001
Investor Relations Contact:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187231
SOURCE ME2C Environmental
Released November 13, 2023