HIGHLANDS RANCH, Colo., Dec. 4, 2014 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (Nasdaq:ADES) ( "ADES" or the "Company") today announced that it has signed a license agreement with UK based Highview Power Storage ("Highview") to bring Highview's innovative Liquid Air Energy Storage ("LAES") systems to market in North America. The Company also made a $2.8 million dollar investment in Highview and has appointed a representative to Highview's Board of Directors.
The market for grid-scale energy storage is driven by the significant increases in electric power being generated by renewable sources such as wind and solar energy. Energy storage is needed to enhance grid stability by providing a smooth interface between these intermittent generating sources and the slow responding base-loaded coal and nuclear power plants. According to an IHS Inc. Cambridge Energy Research Associates (IHS CERA) report, the energy storage business could grow from $200 million in 2012 to a $19 billion industry by 2017.
ADES identified Liquid Air Energy Storage technology as a very promising approach to solving the challenges of grid-scale energy storage. LAES technology can be scaled-up to deliver large-scale, long duration energy storage, ranging from around 5MW output and 15MWh of storage capacity to significantly more than 50MW output and 200MWh of storage capacity, which is similar to medium scale pumped hydroelectricity storage, but without the geographic and permitting restrictions of mountains and reservoirs. This is important because the early-term opportunities will require locating large-scale energy storage systems near major cities and urban areas.
ADES's license agreement is for grid-connected LAES, excluding natural gas fueled peaker plants, covering North America (US, Canada and Mexico). Highview, a leader in LAES systems, has operated a grid connected 350kW/2.5MWh pilot plant in Slough, Greater London, England since 2010, and is now working on deploying a new pre-commercial 5MW demonstrator, to be based in Greater Manchester, England, in collaboration with energy and waste management company Viridor Limited and the UK Government's Department of Energy and Climate Change (DECC).
Dr. Michael D. Durham, President and CEO of Advanced Emissions Solutions, said, "We are very excited about working with Highview to bring this technology to markets in North America. As we looked for the best technology for large grid-scale energy storage, we concluded that the LAES technology has significant advantages for this market and that Highview was years ahead of anyone else pursuing this approach. We look forward to further developing the technology and application to meet our customers' emerging energy challenges."
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") systems for mercury control, Dry Sorbent Injection ("DSI") systems for acid gases, and technology services and other offerings in support of our customers' emissions compliance strategies. ADA's M-Prove™ 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.
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") systems 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.
About Highview Power Storage
Highview Power Storage is a privately owned, award-winning technology company located in Central London, England. Highview has developed and owns the intellectual property to its proprietary, large scale long duration LAES system. The system can simultaneously convert low grade waste heat into power during the discharge cycle, further increasing the overall efficiency by producing additional power. At the beginning of the year, Highview signed a license agreement with General Electric Company Oil & Gas Nuovo Pignone to develop the integration of Highview's LAES technology into its peaker plant offering. For more information please visit, www.highview-power.com
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 factors affecting and expected growth of the market for grid-scale energy storage, the ability and advantages of LAES technology to solve the challenges of grid-scale energy storage, locations of large-scale energy storage systems, the Company's ability to meet its customers' emerging energy challenges and related matters. 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 economic conditions and market demand; timing of or changes to laws, regulations and any legal challenges to or repeal of them; failure of the LAES technology to meet the needs of the grid-scale energy storage market; termination of or amendments to the Company's license agreement with Highview; technical and operational difficulties; availability of equipment; loss of key personnel; intellectual property infringement claims from third parties; impact of the weather 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: For more information, please contact: Graham Mattison Vice President, Investor Relations (720) 889-6206 email@example.com www.advancedemissionssolutions.com Alicia Moghtader Communications Executive +44 (0) 207 872 5800 Alicia.Moghtader@highview-power.com www.highview-power.comSource:Advanced Emissions Solutions, Inc.