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Two Facilities Using M-45-PC TM Technology Scheduled to Begin Full-Time Operations Later This Year
HIGHLANDS RANCH, Colo., Sept. 10, 2013 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (Nasdaq:ADES) (the "Company") today provided an update on the operations and outlook for 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.
Operating Refined Coal Facilities
CCS has 10 Refined Coal ("RC") facilities currently operating at power plants that have historically burned more than 25 million tons of coal per year. Each ton of Refined Coal produced qualifies for Section 45 Tax Credits; currently $6.59 per ton. Seven of these RC facilities representing approximately 22 million tons per year of Refined Coal production are leased or sold to RC investors and are expected to generate more than $75 million in annual revenues to CCS. Three RC facilities are being operated by CCS to generate tax benefits for its Members. We expect one of these facilities to be leased to an RC investor before year-end.
Additional Upfront Cash Payment Received
A Private Letter Ruling (PLR) was issued in August by the Internal Revenue Service on an RC facility that was sold by CCS to an RC investor in February 2013. As a result of the PLR issuance, CCS received an additional $5 million in upfront cash payments from the RC investor.