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M-45-PC technology expands addressable market to larger volume power plants
More than $20 million in new ACI and DSI awards
HIGHLANDS RANCH, Colo., Dec. 19, 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 begun operations of a Refined Coal ("RC") facility that is treating pulverized coal ("PC") boilers using M-45-PC™ technology. The RC facility is located at a power plant that has historically burned about 5 million tons of coal per year. CCS is currently operating the RC facility and retaining the tax benefits generated while it is negotiating the lease or sale to potential RC investors.
CCS currently has 12 of its 28 RC facilities operating at coal burning power plants that have historically burned a total of more than 32 million tons per year. Work on operating contracts for the additional RC facilities is ongoing and CCS is on track to begin full-time operations for an additional five RC facilities by the end of the first quarter of 2014, including two that we expect will use the M-45-PC technology. We continue to expect that all RC facilities will be placed in full-time operation by the end of 2014.
Emissions Control Equipment
Separately, since September 30, 2013, the Company has been awarded more than $20 million in new orders for Activated Carbon Injection ("ACI") systems and Dry Sorbent Injection ("DSI") systems from multiple utilities, including a fleet-wide contract for ACI systems from a large utility. These awards are the result of the recent EPA Mercury and Air Toxics Standard ("MATS"), which requires compliance beginning in April 2015. Work has begun on some of the new projects and deliveries of the systems are scheduled to begin in 2014. During 2013, the Company has won more than $88 million in emissions control equipment awards, including multiple fleet-wide contracts from major utilities.