Advanced Emissions Solutions Announces Reorganization to Become the Holding
Company of ADA-ES
NASDAQ Ticker Symbol to Remain ADES
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
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.
ADA-ES, Inc. ("ADA") supplies Activated Carbon Injection ("ACI") for mercury
control, Dry Sorbent Injection ("DSI") for acid gases, and technology services
and other offerings in support of our customers' emissions compliance
strategies. ADA's M-Prove^TM technology, which reduces emissions of mercury
and other metals from PRB coal, is applied directly to coal at power plants,
or offered through a licensing agreement with Arch Coal for application at
their mines. In addition, we are developing technologies to advance cleaner
energy, including CO2 emissions control technologies through projects funded
by the U.S. Department of Energy ("DOE") and industry participants.
Clean Coal Solutions, LLC ("CCS"), is a 42.5% owned joint venture by ADA that
provides ADA's patented Refined Coal ("RC") CyClean™ technology to enhance
combustion of and reduce emissions of NOx and mercury from coals in cyclone
boilers and ADA's patent pending M-45™ and M-45-PC™ technologies for
Circulating Fluidized Boilers and Pulverized Coal boilers respectively.
Advanced Emissions Solutions consolidates the results of CCS in its financial
BCSI, LLC is a custom designer and fabricator of engineered emissions control
technologies, bulk material handling equipment, bulk storage systems,
water/waste water treatment equipment, and custom components. BSCI supplies
Dry Sorbent Injection ("DSI") for acid gas control using its technologically
advanced cool, dry conditioned conveying air systems. BCSI's technical
solutions serve a wide range of industrial clients including; coal fired
utilities, water treatment, wastewater, cement kilns, food processing and
industrial boilers. BCSI employs engineers and trade professionals at a
190,000+sq. ft. fabrication and office facility located in McKeesport, PA.
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 impact of EPA
regulations and anticipated benefits expected to be provided by the Company's
reorganization. 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 and
regulations and legal challenges to them 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.
CONTACT: Graham Mattison
Vice President, Investor Relations
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