Advanced Emissions Solutions Announces Additional Refined Coal Facility Closure with Third-Party Investor
GREENWOOD VILLAGE, Colo., Oct. 20, 2020 (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 with an existing RC investor. The RC facility is located at a coal plant that has historically burned approximately 4.0 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.
Greg Marken, Interim CEO of ADES, commented, "We are pleased to announce today that Tinuum has secured a third-party investor for an RC facility, making it the third contracted refined coal facility in 2020 and seventeenth royalty bearing facility overall. This RC facility brings incremental coal burn to the portfolio and increases our future cash flow from our RC segment. Tinuum, with support from ADES and Tinuum’s other owners, continues to prove its focus 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 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.
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 and increases to future cash flow. Such statements are based on management’s current expectations and are subject to a number of uncertainties and risks, including the rate of coal usage compared to historic usage, 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.
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