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Agreement expected to increase manufacturing utilization, expand geographical reach and improve earnings and cash flow profile
GREENWOOD VILLAGE, Colo., Feb. 04, 2021 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (NASDAQ: ADES) ("ADES"), together with its subsidiary companies held by ADA Carbon Solutions, LLC (collectively the "Company"), today announced it has entered into a 5-year supply agreement (the "Agreement") with Cabot Norit Nederland B.V., a subsidiary of Cabot Corporation ("Cabot"), to supply Cabot with lignite activated carbon products and other ADES proprietary products used for mercury removal in utility and industrial coal-fired power plants. Cabot will be the exclusive and sole reseller of the products within Europe, Turkey, the Middle East and Africa ("EMEA").
"Today’s announcement is another important step toward the Company’s post-Refined Coal future and marks the introduction of our products to markets outside of North America," said Greg Marken, Interim CEO of ADES. "This Agreement with Cabot broadens our working relationship, combines our knowledge of utility and industrial coal-fired power plants and our proprietary products with Cabot's international operations, and provides us the opportunity to expand our geographical reach as mercury regulations come into effect in the EMEA region during 2021 and beyond."
Marken concluded, "This Agreement is another step forward for our platform, which will allow us to more fully realize the value of our asset base and deliver long-term shareholder value. We are excited to strengthen our partnership with Cabot and provide our products to current and new customers across the globe."
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 our views on delivering long-term shareholder value, expected market expansion opportunities and timing of implementation of mercury regulations in the EMEA. These forward-looking statements involve risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors including, but not limited to, future demand for products under the Agreement and timing of regulatory implementation schedules; as well as other factors relating to our business, as described in our filings with the SEC, with particular emphasis on the risk factor disclosures contained in those filings. You are cautioned not to place undue reliance on the forward-looking statements and to consult filings we have made and will make with the SEC for additional discussion concerning risks and uncertainties that may apply to our business and the ownership of our securities. The forward-looking statements speak only as to the date of this press release.
Source: Advanced Emissions Solutions, Inc.
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