Advanced Emissions Solutions, Inc. Announces Closing of ADA Carbon Solutions, LLC Acquisition
December 13 2018 - 4:35PM
Advanced Emissions Solutions, Inc. (NASDAQ: ADES) (the "Company" or
"ADES"), a leader in emissions control solutions for coal-fired
power generation and industrial markets, announced today that the
Company has completed its previously announced acquisition of ADA
Carbon Solutions, LLC ("Carbon Solutions") as of December 7, 2018.
Prior to the acquisition, Carbon Solutions was a private company.
It joins ADES as a leading producer of Powdered Activated Carbon
(“PAC”) solutions for the coal-fired power plant, industrial and
potable water markets.
Further on December 7, 2018, the Company and
Apollo Credit Strategies Master Fund Ltd and Apollo A-N Credit Fund
(Delaware) L.P. (collectively "Apollo”), executed the $70 million
Term Loan and Security Agreement, which provides funding for this
acquisition.
L. Heath Sampson, President and CEO of ADES,
commented, "We are thrilled to complete this acquisition of Carbon
Solutions and take the next step toward diversifying our emissions
control offerings, expanding our customer base and broadening the
markets we serve. We strongly believe this is the right
transaction, at the right price and time, to drive near-term and
long-term growth and value for our shareholders.”
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-ES, Inc. (“ADA”) is a wholly-owned
subsidiary of Advanced Emissions Solutions, Inc. (“ADES”) that
provides emissions control solutions for coal-fired power
generation and industrial boiler industries. With more than 25
years of experience developing advanced mercury control solutions,
ADA delivers proprietary environmental technologies, equipment and
specialty chemicals that enable coal-fueled boilers to meet
emissions regulations.
Carbon Solutions is a wholly owned subsidiary of
ADES and a leading producer of Powdered Activated Carbon ("PAC")
solutions for the coal-fired power plant, industrial and potable
water markets.
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 expectations about Carbon Solutions' business opportunities
and the Company's ability to expand its customer base and recognize
growth and shareholder value. These forward-looking statements
involve risks and uncertainties. Actual events or results could
differ materially from those discussed in the forward-looking
statements as a result of various factors including, but not
limited to, future demand for Carbon Solutions products, our
ability to expand the customer base; as well as other factors
relating to our business, as described in our filings with the SEC,
with particular emphasis on the risk factor disclosures contained
in those filings. You are cautioned not to place undue reliance on
the forward-looking statements and to consult filings we have made
and will make with the SEC for additional discussion concerning
risks and uncertainties that may apply to our business and the
ownership of our securities. The forward-looking statements speak
only as to the date of this press release.
Source: Advanced Emissions Solutions, Inc.
Investor Contact:
Alpha IR GroupChris Hodges or Ryan
Coleman312-445-2870ADES@alpha-ir.com
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