“Based upon the status of operations and negotiations on RC facilities, we expect to report consolidated RC segment revenues of approximately $190 million in 2012, comprised of $40 million in rental revenues and $150 million in RC sales and raw coal purchases. Tax credit benefits and segment income for 2012 are projected to total approximately $22 million, which will include approximately $16 million of tax credits apportioned to ADA associated with the operations of RC facilities that have either yet to be monetized or are being operated by Clean Coal for its own use. The projected segment revenue and income are expected to continue at these levels through the expiration of Section 45 tax credits in 2021.“These estimates are based upon the use of our current RC technologies CyClean and M45, which are limited to use in cyclone and circulating fluidized bed (CFB) boilers, respectively, and therefore have a limited market. Based upon recent technological advances, we now believe we have an RC technology that can qualify for tax credits for pulverized coal (PC) boilers. We expect this could open up a significantly larger market for the remaining RC facilities as there are over 1000 PC boilers in the country with as many as 50 plants where it may be possible to treat 4-10 million tons per year of coal with a single RC facility.”
ADA-ES Reports Third Quarter 2012 Results
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