Finally, the Company is pleased to announce that Mr. Graham Mattison has joined the ADA management team as Vice President of Investor Relations. Mr. Mattison had previously followed ADA as a Senior Vice President and equity research analyst at Lazard Capital Markets. Having actively covered ADA for more than five years, Mr. Mattison brings an in-depth understanding of ADA’s multiple businesses, technologies and opportunities. We look forward to Mr. Mattison working to expand ADA’s investor relations efforts and help communicate the significant opportunities ahead for the Company.
Dr. Michael Durham, President and CEO of ADA, stated, “We are frustrated with the externalities that have slowed our RC business for the past 6 months. However, these delays have created the potential for significant upside for the RC business in that the final 12 uncommitted RC facilities are now available for installation on larger power plants utilizing our new M-45-PC™ technology for PC boilers.”
ADA is a leader in clean coal technology and the associated specialty chemicals, serving the coal-fueled power plant industry. Our proprietary environmental technologies and specialty chemicals enable power plants to enhance existing air pollution control equipment, minimize mercury, CO
and other emissions, maximize capacity, and improve operating efficiencies, to meet the challenges of existing and pending emission control regulations.
With respect to mercury emissions:
- Through our consolidated subsidiary, Clean Coal Solutions, LLC (“CCS”), we provide our patented Refined Coal (“RC”) CyClean™ technology to enhance combustion of and reduce emissions of NOx and mercury from coals in cyclone boilers and our patent pending M-45™ and M-45-PC™ technologies for Circulating Fluidized Boilers and Pulverized Coal boilers respectively.
- We supply Activated Carbon Injection (“ACI”) and Dry Sorbent Injection (“DSI”) systems, mercury measurement instrumentation, and related services.
- Under an exclusive development and licensing agreement with Arch Coal, we are developing and commercializing an enhanced PRB coal with reduced emissions of mercury and other metals.
In addition, we are developing CO
emissions technologies under projects funded by the U.S. Department of Energy (“DOE”) and industry participants.
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 statements or expectations regarding the amount and timing of revenues from and contracts for RC facilities, impact of IRS guidance, , ability to obtain a PLR from the IRS, future production of RC, size of the market for RC facilities, ability to convert existing RC facilities to the new M-45-PC technology and related matters. These statements are based on current expectations, estimates, projections, beliefs and assumptions of our management. Such statements involve significant 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, changes in laws, regulations and IRS interpretations or guidance, government funding, accounting rules, prices, economic conditions and market demand; timing of laws, regulations and any legal challenges to or repeal of
them; failure of the RC facilities to produce coal that qualifies for tax credits; termination of or amendments to the contracts for RC facilities; decreases in the production of RC; failure to lease or sell the remaining RC facilities on a timely basis; failure of the new RC investor to close on its debt restructuring or obtain the PLR from the IRS; inability to commercialize the new M-45-PC technology on favorable terms; availability, cost of and demand for alternative tax credit vehicles and other technologies; technical, start-up and operational difficulties; availability of raw materials and equipment; loss of key personnel; intellectual property infringement claims from third parties; and other factors discussed in greater detail in our filings with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on such statements and to consult our SEC filings for additional risks and uncertainties that may apply to our business and the ownership of our securities. Our forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so.