Advanced Emissions Solutions Announces the Lease of an Additional Refined Coal Facility
July 15 2020 - 6:55PM
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 leased an additional Refined Coal
("RC") facility to an existing RC investor. The RC facility is
located at a coal plant that has historically burned approximately
2.0 million tons of coal per year. With this
addition, Tinuum Group has 21 invested facilities in
full-time operation.
Greg Marken, Interim CEO of ADES, commented, "We are pleased to
have completed the lease of an RC facility to an existing investor
and proud to continue to help power utilities and investors achieve
their emission reduction requirements and business goals. While the
tonnage burned at this facility is lower than previous invested
facilities, this invested facility helps offset reductions in coal
burn that have occurred due to reductions in electricity demand.
Tinuum, with support from ADES and Tinuum’s other owners, is
diligently focused 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 |
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 |
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 |
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 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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