Advanced Emissions Solutions Names Heath Sampson as Chief Executive Officer
April 07 2015 - 8:00AM
Advanced Emissions Solutions, Inc. (the "Company" or "ADES") today
announced the appointment of L. Heath Sampson as President and
Chief Executive Officer. Dr. Michael D. Durham will work to ensure
a smooth transition to Mr. Sampson and will retire from the Company
at the end of the month.
W. Phillip Marcum, Chairman of the Board of Directors ("Board")
stated, "We are pleased that Heath has accepted this position and
the Board is confident that he has the right skills and experience
to lead the next stages of the Company's transformation. We look
forward to further progress on the previously announced separation
of the Refined Coal businesses from the Emission Control business
as well as the evolution of the Emission Control business as its
market shifts towards compliance solutions for the federal Mercury
Air Toxics Standard ("MATS") and away from equipment for MATS."
Mr. Marcum continued, "Mike's contributions to all of the
Advanced Emissions Solutions companies and the global air pollution
control industry cannot be overstated. Since co-founding ADA
Technologies in 1985 Mike has shown to be a visionary and driving
force in creating and building multiple companies, including ADA
Environmental Solutions, ADA Carbon Solutions and Clean Coal
Solutions. His vision, creativity, and persistence have been
essential factors in the success and outlook for these companies.
We thank him and wish him well in his future endeavors."
Dr. Durham commented, "I am proud to be part of the successes
over the past years and I am confident in the team that will lead
the Company through its transformation. I look forward to the
future success of all of the ADES companies."
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-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-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 Clean Energy Solutions, LLC ("ACES") is a wholly owned
subsidiary of ADES that is focused on supporting and improving the
Company's existing products and identifying, developing and
commercializing new solutions to advance cleaner energy and to help
our customers meet existing and future regulatory and business
challenges. Building off the success of M-45™ and M-45-PC™
Technologies for Refined Coal, ACES is currently working to develop
and commercialize new technologies to reduce a range of emissions
associated with power generation and oil & gas production. ACES
has assembled a strong team and follows a rigorous process focused
on development and maximizing the return on investment.
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.
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 leadership transition to Mr. Sampson and
the timing of Dr. Durham's retirement; progress on the separation
of the Company's Refined Coal ("RC") businesses; changes to the
Company's Emission Control business and related matters. These
statements are based on current expectations, estimates,
projections, beliefs and assumptions of the Company's management.
Such statements involve significant risks and uncertainties. There
is no assurance as to the timing or structure of a potential
separation transaction or whether it will be completed. 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, uncertainties that may delay or
negatively impact the separation transaction, the inability to
structure a potential separation transaction in a way that the tax
treatment is favorable to stockholders, the inability to obtain the
required consents for a potential separation transaction,
disruption to business operations as a result of the proposed
separation transaction and the inability of either business to
successfully operate independently; economic conditions and market
demand; inability to commercialize the Company's technologies on
favorable terms; timing of or changes to laws, regulations and any
legal challenges to or repeal of them; changes in the RC business
that may adversely affect the benefits the Company expects from a
potential separation transaction; termination of or amendments to
the contracts for RC facilities; loss of key personnel;
intellectual property infringement claims from third parties and
other legal proceedings; and risks relating to the substantial
costs and diversion of personnel's attention and resources due to
the audits and re-audits and filing any required restatements and
periodic reports and related litigation and other factors discussed
in greater detail in the Company's filings with the Securities and
Exchange Commission ("SEC"). You are cautioned not to place undue
reliance on such statements and to consult the Company's SEC
filings for additional risks and uncertainties that may apply to
the Company's business and the ownership of its securities. The
Company's forward-looking statements are presented as of the date
made, and the Company disclaims any duty to update such statements
unless required by law to do so.
CONTACT: Graham Mattison
Vice President, Strategic Initiatives
and Investor Relations
(720) 889-6206
graham.mattison@adaes.com
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