Advanced Emissions Solutions Signs Contract for Construction of Granular Activated Carbon Expansion at Red River Plant with Wieland
24 Enero 2024 - 3:05PM
Advanced Emissions Solutions, Inc. (NASDAQ: ADES) (the "Company" or
"ADES"), an environmental technology company producing activated
carbon and other unique carbon solutions for use in water, air and
soil purification, and sustainable materials, today announced that
it has executed the contract with Wieland Davco Corporation
(“Wieland”) for the construction of its strategic Granular
Activated Carbon (“GAC”) facility at its Red River plant in
Coushatta, LA (“Red River”).
Mobilization of construction operations has
already commenced and the mechanical completion of the project is
anticipated by Q4 2024, as forecasted. The contract is being
executed by Wieland on a “Cost-Plus” basis. The Company estimates
that total construction and equipment costs at Red River will be in
the range of $45-50 million, representing an increase of
approximately 20% on previous guidance. This increase is the result
of construction and equipment costs being higher than original
estimates, due to inflationary and timing-related issues. The
Company is confident that this increase is covered by a combination
of its existing capital on its balance sheet, anticipated cashflow
in 2024 and reductions in other costs.
Separately, the Company is pleased to announce
that all major construction work at its Corbin facility in
Kentucky, which will provide the recycled bituminous coal waste
feedstock for Red River, remains on track to be completed on time
and within budget. Corbin commissioning activities will begin in
March 2024.
“This expansion is a transformational project
towards becoming a material producer of GAC and is well underway.
We look forward to selling our first product in 2024,” said Robert
Rasmus, CEO of ADES. “As we observe a materially undersupplied GAC
market in North America, I am optimistic that we will deliver
valuable sales contracts against the 25 million pound expansion in
the coming months and well in advance of Q4 2024. We will update
the market accordingly.”
“Since joining ADES in September 2023, I have
been impressed by the determination of our operational team to
drive this project forward,” added Deke Wiliamson, COO of ADES.
“With Corbin basically complete, today marks the start of a very
busy year for ADES at Red River and I am pleased that we will be
joined in this endeavour by our partners at Wieland. Together with
the broader team, I am looking forward to delivering this project
safely, on time and on budget.”
Ryan Roberts, Vice President/Regional Director
of Wieland, added: “We have a long pedigree of successful
construction in Louisiana and we are delighted to have been
successfully chosen to build this project at Red River. We are
dedicated to excellence in construction for our customers and we
look forward to delivering on this with ADES.”
About Advanced Emissions Solutions,
Inc.Advanced Emissions Solutions, Inc. serves as the
holding entity for a family of companies that provide emissions
solutions to customers in the power generation and other
industries.
ADA brings together ADA Carbon Solutions, LLC, a leading
provider of powder activated carbon ("PAC") and ADA-ES, Inc., the
providers of ADA® M-Prove™ Technology. We provide products and
services to control mercury and other contaminants at coal-fired
power generators and other industrial companies. Our broad suite of
complementary products control contaminants and help our customers
meet their compliance objectives consistently and reliably.
CarbPure Technologies LLC, (“CarbPure”), formed in 2015 provides
high-quality PAC and granular activated carbon ideally suited for
treatment of potable water and wastewater. Our affiliate company,
ADA Carbon Solutions, LLC manufactures the products for
CarbPure.
FluxSorb, LLC, formed in 2022, is an emerging technology company
that introduces highly engineered activated carbons with a focus on
the emerging remediation markets. Our vision is to partner with our
customers to collaborate, develop and deploy best in class
activated carbon solutions to meet even the most extreme
challenges.
Arq is an environmental technology business founded in 2015 that
has developed a novel process for producing specialty carbon
products from coal mining waste. Arq has the technology and
large-scale manufacturing facilities to produce a micro-fine
hydrocarbon powder, Arq powder™, that can be used as a feedstock to
produce activated carbon and as an additive for other products.
Caution on Forward-Looking
Statements
Statements in this press release regarding the
Company that are not historical facts, including statements
concerning the Company’s business relationship with Wieland, the
estimated costs and timing associated with construction, equipment
costs for potential capital improvements at our facilities, sources
of financing for the proposed construction and potential production
outputs thereafter, are forward-looking statements within the
meaning of applicable securities laws and regulations that involve
risks and uncertainties and are not guarantees of future
performance. 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, the costs of raw
materials and supplies, costs of labor, changes in scope of work or
other unexpected modifications of construction, inflationary
pressures, the Company’s ability to achieve expected cash flows and
cost reductions as well as other factors relating to the Company’s
business, as described in our filings with the SEC, with particular
emphasis on the "Risk Factors" in the Company's most recently filed
Annual Report on Form 10-K and Quarterly Report on Form 10-Q and
other subsequent filings with the Securities and Exchange
Commission. You should not place undue reliance on the
forward-looking statements, which speak only as of the date made.
The Company undertakes no duty to update any forward-looking
statement that it may make, whether as a result of new information,
future events or otherwise, except as may be required by applicable
law, regulation or other competent legal authority.
Source: Advanced Emissions Solutions, Inc.
Investor Contact:
Alpha IR GroupRyan Coleman or Chris
Hodges312-445-2870ADES@alpha-ir.com
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