Advanced Emissions Solutions, Inc. has announced that its Board of Directors has taken the decision to pursue the separation of its refined coal-related business Clean Coal Solutions from its other emissions controls-related businesses. The announcement is in line with the company’s plans to evaluate financial and strategic opportunities in order to increase stockholder value. The Board’s decision to ‘spin-off’ the company’s ownership stake in Clean Coal Solutions will create two independent, publicly traded companies.
Aside from Clean Coal Solutions, Advanced Emissions Solutions comprises ADA-ES, Inc. and BCSI, LLC. The latter serves a number of heavy industries, including cement, coal, and water/waste water treatment plants, through the provision of emissions control technologies, bulk material handling equipment, bulk storage systems and dry sorbent injection systems. ADA-ES, Inc. supplies activated carbon injection systems for mercury control, dry sorbent injection systems for acid gases, and related technologies to aid environmental compliance.
Commenting on the decision, Chris Shackelton, Chair of the Board’s Finance Committee, said that the announcement “is a significant strategic step towards unlocking stockholder value”.
Dr Michael D. Durham, President and CEO of Advanced Emissions Solutions, added: “While the company works through this process, the management team will remain steadfastly focused on serving our customers, achieving our business objectives and regaining compliance with the company’s periodic reporting requirements.”
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/13022015/advanced-emissions-solutions-to-separate-refined-coal-business-336/