Advanced Emissions Solutions, Inc. has announced that Tinuum Group, a joint venture among the company's subsidiary ADA-ES, Inc., an affiliate of NexGen Resources Corporation, and an affiliate of The Goldman Sachs Group, Inc., has sold its 49.9% interest in a Refined Coal project to a new third party investor.
Tinuum had retained the 49.9% interest in the RC project since the project's commencement in 2017. The company's 0.1% ownership interest in the project will not be impacted by this transaction. The RC facility is located at a coal-fireid power plant that has historically burned in excess of 2.5 million tpy of coal and is royalty bearing to ADES.
Greg Marken, Interim CEO of ADES, commented: "We are excited to announce an additional investor in this RC project. As we continue to navigate uncertain times, this closing reflects the strength in Tinuum's offerings and business model. This additional investor brings net cash flow and avoidance of operating costs at Tinuum. Tinuum, with support from ADES and Tinuum’s other owners, is diligently focused on securing additional tax equity investors and increasing production of lower emission coal to power our country."
Read the article online at: https://www.worldcoal.com/power/07072020/advanced-emissions-solutions-announces-additional-investor-in-a-refined-coal-facility/