Advanced Emissions Solutions Announces Additional Refined Coal Facility Closure with Third-Party Investor
Increases to 21 total invested Refined Coal facilities
HIGHLANDS RANCH, Colo., May 29, 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 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 Group
Ryan Coleman or Chris Hodges
312-445-2870
