Increases to 20 total invested Refined Coal facilities
HIGHLANDS RANCH, Colo., Jan. 16, 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 plant that has historically burned in excess of 3.5 million tons of coal per year and is royalty bearing to ADES. With this addition, Tinuum Group has 20 invested facilities in full-time operation.
L. Heath Sampson, President and CEO of ADES, commented, “Our ongoing commitment to support Tinuum, in the effort to secure tax equity investors for the remaining idle RC facilities continues to progress. This closure marks the third monetization of a facility previously entered into the engineering and construction phase, validating Tinuum’s strategic decision made last year to take those preemptive steps in anticipation of future closures. We remain committed to helping advance discussions with tax equity investors to both help utilities meet their emissions targets as well as maximize distributable cash flows and 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-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. |
| CarbPure Technologies LLC, (“CarbPure”), formed in 2015 provides high-quality PAC and granular activated carbon (“GAC”) 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