ADA-ES, Inc. has announced that Clean Coal Solutions, LLC (CCS), ADA’s joint venture (JV) with an affiliate of NexGen Resources Corporation, and an affiliate of The Goldman Sachs Group, Inc., has finalized the contract for a fifth Refined Coal (RC) facility with a new RC investor. The RC facility, which uses ADA’s M-45TM technology, is located at a power plant that has historically burned about 3.5 million tons of coal per year. CCS has operated this facility for the past nine months during negotiation of definitive agreements and the restructuring of debt related to the power plant. During this period, the RC facility generated tax credits for the JV’s own use at a cost of approximately $1 million per month to CCS.
“We are very excited about completing this transaction with this new RC investor and look forward to a productive long-term relationship with them,” said President and CEO of ADA, Michael D. Durham.