HIGHLANDS RANCH, Colo., Sept. 17, 2013 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (Nasdaq:ADES) (the "Company") today announced that it has recently received awards and letters of intent to award for more than $7 million in Activated Carbon Injection (ACI) and Dry Sorbent Injection (DSI) systems from multiple utilities. Since June 30, 2013, the Company has booked more than $30 million in new contracts, including a fleet wide order for DSI and ACI systems from a large utility. Backlog at June 30, 2013 stood at $33.2 million. Work has begun on some of the projects and deliveries of the systems are scheduled to begin in 2014.
These awards are the result of the recent EPA Mercury and Air Toxics Standard (MATS), which could generate a total market for equipment in excess of $1 billion for ACI and DSI systems. Since the MATS market commenced in 2011, the Company's subsidiaries have won or received letters of intent to award contracts currently valued at more than $85 million for DSI and ACI systems. We are currently working on bids or discussing potential projects for ACI and DSI systems in excess of an additional $160 million. The recent wins build on the Company's position as the leader in providing utilities equipment to meet the MATS rule.
Dr. Michael Durham, President and CEO of the Company, stated "We are proud to be selected by our customers to provide them with solutions to meet the new federal MATS rules. The market for equipment is well underway and evolving as we expected. We have taken a number of steps to be ready for this market, including growing our engineering capabilities, and have put in place arrangements with various suppliers and component manufacturers to meet the growing market demand."
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-ProveTM 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 statements.
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. BCSI 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 ACI and DSI systems, markets and projects. 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, economic conditions and market demand; timing of laws, regulations and any legal challenges to or repeal of them; availability, cost of and demand for other technologies; technical and operational difficulties; availability of raw materials and equipment; loss of key personnel; intellectual property infringement claims from third parties 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 (646) 319-1417 firstname.lastname@example.org