Increases to 22 total invested Refined Coal facilities
HIGHLANDS RANCH, Colo., Aug. 15, 2019 (GLOBE NEWSWIRE) -- 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 5.5 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.
L. Heath Sampson, President and CEO of ADES, commented, “At the end of 2018, we outlined what we believed was a clear path to securing an additional 12 million incremental tons in 2019 from prospective tax equity investors. I’m pleased to announce today that we have met this goal ahead of our target date as Tinuum has secured a third-party investor for facility number 22, making it the third contracted refined coal facility in 2019 and fifteenth royalty bearing facility overall. The 5.5 million tons related to this closure now brings us to over 12 million annualized tons contracted during 2019 and is larger than the historical annual tonnage associated with closures in 2018. 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.
Source: Advanced Emissions Solutions, Inc. Investor Contact:
Alpha IR Group Ryan Coleman or Chris Hodges 312-445-2870 ADES@alpha-ir.com
Source: GlobeNewswire
(August 15, 2019 - 6:59 AM EDT)
