Advanced Emissions Solutions Announces Additional Refined Coal Facility Closure with Third-Party Investor
May 29 2019 - 5:00PM
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 3.1 million tons of coal per year and is royalty bearing
to ADES. With this addition, Tinuum Group has 21 invested
facilities in full-time operation.
L. Heath Sampson, President and CEO of ADES,
commented, “The momentum that began to build late last year in our
RC segment has carried over into 2019. I am pleased Tinuum has
secured a tax-equity investor for an additional facility, bringing
the total number of operational units to 21 and making it the
second contracted refined coal facility in 2019. The cadence of
closures this year is consistent with our previously outlined
expectations, and we continue to maintain visibility into an
additional 5 to 6 million tons, in 2019, that have the potential to
add to our future projected cash flows from this business. We have
worked closely alongside Tinuum as they have diligently worked to
educate prospective investors around the benefits and importance of
refined coal in helping curtail harmful emissions, and we are
pleased to see these efforts translate into shareholder value.”
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, a leading provider of
powder activated carbon ("PAC") and ADA-ES, 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.
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.
Source: Advanced Emissions Solutions, Inc.
Investor Contact:
Alpha IR GroupRyan Coleman or Chris
Hodges312-445-2870ADES@alpha-ir.com
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