This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ADA-ES Provides Year-End Update On Refined Coal Business

Fifth paragraph, last sentence of release should read: This provides more time for the affiliate to pursue leases on additional RC facilities owned by CCS for which they have indicated an interest in leasing up to a total of 18 to 20 million tons of RC per year (sted ... leasing up to a total of 18 to 20 metric tons of RC per year).

The corrected release reads:

ADA-ES PROVIDES YEAR-END UPDATE ON REFINED COAL BUSINESS

New Vice President of Investor Relations Joins Management Team

ADA-ES, Inc. (NASDAQ: ADES) (“ADA”) today provided a year-end update on its Refined Coal (RC) business and announced that Graham Mattison has joined the Company as Vice President of Investor Relations.

RC is sold through Clean Coal Solutions (CCS), ADA’s joint venture (JV) with an affiliate of NexGen Resources Corporation and an affiliate of The Goldman Sachs Group, Inc. CCS markets three different technologies, CyClean™, M-45™, and M-45-PC™, all of which can reduce emissions of NOx and mercury and can qualify for Internal Revenue Service (IRS) Section 45 tax credits for the next nine years (currently $6.47 per ton of RC). The JV has 28 qualified facilities available to produce RC and generate tax credits until 2019 for the first two facilities and 2021 for the newer 26 facilities.

The JV is currently operating 8 facilities producing RC at power plants around the country. Four of the facilities are leased to two different RC investors, with the other four being operated by CCS and generating tax credits for its owners’ use. CCS and a new RC investor have agreed in principle to the material terms for the sale of one of the facilities currently operating at a coal-fired plant that is in the process of restructuring its debt. Finalizing the RC contracts has been delayed until the debt restructuring is completed and associated lender consents required for the RC sale transaction are obtained, which ADA now expects to occur in February 2013. While being operated by CCS, this RC facility is currently generating tax credits at a rate of approximately $25 million per year, while costing approximately $10 million a year for CCS to operate. Under the terms of the proposed RC contracts, once the RC sale transaction is completed, ADA expects that the RC facility will immediately begin generating approximately $14 million a year in revenue, thus creating an improvement in cash flow of about $24 million per year. The RC sale contracts provide for an upfront cash payment of greater than $20 million (including amounts that will be paid only upon issuance by the IRS of a private letter ruling (PLR) relating to the transaction). CCS will continue efforts to close this RC transaction as promptly as possible notwithstanding that certain of the conditions to closing are outside of its direct control.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,014.70 +32.11 0.19%
S&P 500 1,980.63 +1.72 0.09%
NASDAQ 4,458.7460 +13.8370 0.31%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs