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HIGHLANDS RANCH, Colo., July 1, 2013 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (the "Company") today announced that it has been reorganized as the Delaware holding company for ADA-ES, Inc. ("ADA") and BCSI, LLC. The shares of Advanced Emissions Solutions common stock will trade on the NASDAQ Capital Market under the ticker symbol "ADES."
At ADA's annual shareholders meeting held on June 13
th 2013, its shareholders voted to approve the reorganization of ADA as the subsidiary of a Delaware holding company, Advanced Emissions Solutions, and the related Agreement and Plan of Merger.
Advanced Emissions Solutions has replaced ADA as the publicly held corporation and Advanced Emissions Solutions and its subsidiaries will conduct all of the operations of the Company. The officers of the Company are also the current President and Chief Executive Officer, Senior Vice President, Chief Financial Officer and Secretary, Executive Vice President, Chief Operating Officer, Chief Technology Officer, Vice President and General Counsel and Vice President of Investor Relations of ADA. The directors of Advanced Emissions Solutions are the same as the directors of ADA prior to the reorganization.
Dr. Michael Durham, President and CEO of Advanced Emissions Solutions, stated, "We believe the name Advanced Emissions Solutions more accurately reflects the scope of our current operations and our future direction. Since ADA spun out from Earth Sciences in 2003, we've become a prominent player in the pollutant control industry including emission control technology, equipment and chemicals that reduce emissions of mercury, CO2 and other pollutants from coal-fired power plants, industrial boilers and cement kilns. Implementing the holding company structure will provide us with strategic, operational and financing flexibility and, with Advanced Emissions Solutions incorporated in Delaware, we will be in a better position to take advantage of the flexibility, predictability and responsiveness that Delaware corporate law provides. We are enthusiastic about the significant near-term opportunities for the Company in our Refined Coal business and from the Mercury and Air Toxics Standards rule ("MATS") and other emission regulations. We believe the reorganization and new name better positions the Company to capitalize on these opportunities."