Advanced Emissions Solutions Announces Additional Refined Coal Facility Closure with Third-Party Investor
September 19 2019 - 6:59AM
Advanced Emissions Solutions, Inc. (NASDAQ: ADES) (the "Company" or
"ADES") today announced that Tinuum Group, LLC ("Tinuum Group"), a
joint venture among the Company's subsidiary ADA-ES, Inc., an
affiliate of NexGen Resources Corporation, and an affiliate of The
Goldman Sachs Group, Inc., has completed a transaction for an
additional Refined Coal ("RC") facility. The RC facility is
located at a coal-fired power plant that has historically burned in
excess of 2.5 million tons of coal per year and is royalty bearing
to ADES. With this addition, Tinuum Group has 23 invested
facilities in full-time operation.
L. Heath Sampson, President and CEO of ADES,
commented, “I’m pleased to announce today that Tinuum has secured a
third-party investor for facility number 23, making it the fourth
contracted refined coal facility in 2019 and sixteenth royalty
bearing facility overall. We believe this closure furthers our view
that there continues to be appetite and capacity for tax equity
investment related to Refined Coal. Additionally, we continue to
work closely with Tinuum to educate potential investors around the
benefits of refined coal and maximize cash flows for our
shareholders. The emissions-reducing properties of refined coal
play a critical role in our country’s evolving energy and pollution
control demands, and we are proud to be an integral piece of that
effort.”
About Advanced Emissions Solutions,
Inc.Advanced Emissions Solutions, Inc. serves as the
holding entity for a family of companies that provide emissions
solutions to customers in the power generation and other
industries.
ADA brings together ADA Carbon Solutions, LLC, a
leading provider of powder activated carbon ("PAC") and ADA-ES,
Inc., the providers of ADA® M-Prove™ Technology. We provide
products and services to control mercury and other contaminants at
coal-fired power generators and other industrial companies. Our
broad suite of complementary products control contaminants and help
our customers meet their compliance objectives consistently and
reliably.
CarbPure Technologies LLC, (“CarbPure”), formed
in 2015 provides high-quality PAC and granular
activated carbon ideally suited for treatment of potable water and
wastewater. Our affiliate company, ADA Carbon Solutions, LLC
manufactures the products for CarbPure.
Tinuum Group, LLC (“Tinuum Group”) is a 42.5%
owned joint venture by ADA that provides patented Refined Coal
(“RC”) technologies to enhance combustion of and reduce emissions
of NOx and mercury from coal-fired power plants.
Caution on Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, which provides a “safe harbor” for such
statements in certain circumstances. The forward-looking statements
include the expected additional tons of coal with respect to this
new facility as well as our expectations on the market appetite and
capacity for tax equity investment in refined coal. Such statements
are based on management’s current expectations and are subject to a
number of uncertainties and risks, which could cause actual results
to differ materially from those described in the forward-looking
statements. Information about potential factors that could affect
Advanced Emissions Solutions, Inc.’s business, results of
operations and financial condition is included in the Risk Factors
sections of Advanced Emissions Solutions, Inc.’s filings with the
Securities and Exchange Commission. All forward-looking statements
included in this document are based on information available to
Advanced Emissions Solutions, Inc. as of the date of this document,
and except to the extent Advanced Emissions Solutions, Inc. may be
required to update such information under any applicable securities
laws, Advanced Emissions Solutions, Inc. assumes no obligation to
update such forward-looking statements.
Source: Advanced Emissions Solutions, Inc.
Investor Contact:
Alpha IR GroupRyan Coleman or Chris
Hodges312-445-2870ADES@alpha-ir.com
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