HIGHLANDS RANCH, Colo., July 29, 2013 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (Nasdaq:ADES) (the "Company") today announced that Clean Coal Solutions, LLC ("CCS"), a joint venture among its subsidiary ADA-ES, Inc., an affiliate of NexGen Resources Corporation, and an affiliate of The Goldman Sachs Group, Inc., has leased two additional Refined Coal ("RC") facilities to an existing RC investor. These facilities are expected to produce about seven million tons of Refined Coal per year and generate approximately $24 million in revenue for CCS. As a result of these transactions, CCS has received more than $14 million in upfront cash payments and has eliminated more than $8 million in annual operating expenses that CCS previously incurred while operating one of the RC facilities. These financial impacts will begin in Q3 2013 and are expected to continue through 2021. CCS now has ten RC facilities currently operating, seven of which are leased or sold to three different RC investors. The seven leased or sold facilities are located at coal-fired power plants that have historically burned a total of about 22 million tons per year and are expected to generate more than $75 million in annual revenues to CCS.
Dr. Michael D. Durham, President and CEO of Advanced Emissions Solutions said, "We are very pleased about completing these transactions as they will generate significant cash flows for CCS and enable us to provide two power generating customers with economic benefits resulting from the use of the technology, including decreased operating costs and decreased emissions of NOx and mercury. CCS continues to move forward with multiple utilities and RC investors for the remaining RC facilities that qualify for Section 45 tax credits. We expect additional closings later this year and will discuss them in greater detail when we report Q2 2013 results on August 7 th, 2013."
About Advanced Emissions Solutions, Inc.Advanced Emissions Solutions, Inc. (Nasdaq:ADES) serves as the holding entity for a family of companies that provide emissions solutions to customers in the power generation and other industries.