Advanced Emissions Solutions Announces Additional Refined Coal Facility Closure with Third-Party Investor
October 20 2020 - 4:45PM
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 with an existing RC
investor. The RC facility is located at a coal plant that has
historically burned approximately 4.0 million tons of coal per year
and is royalty bearing to ADES. With this
addition, Tinuum Group has 22 invested facilities in
full-time operation.
Greg Marken, Interim CEO of ADES, commented, "We
are pleased to announce today that Tinuum has secured a third-party
investor for an RC facility, making it the third contracted refined
coal facility in 2020 and seventeenth royalty bearing facility
overall. This RC facility brings incremental coal burn to the
portfolio and increases our future cash flow from our RC segment.
Tinuum, with support from ADES and Tinuum’s other owners, continues
to prove its focus on maximizing business results for the remainder
of the refined coal tax credit period."
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
Statements
This 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 and increases to future cash flow. Such statements are
based on management’s current expectations and are subject to a
number of uncertainties and risks, including the rate of coal usage
compared to historic usage, 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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