Advanced Emissions Solutions is to separate its refined coal business from its other emission control businesses, the company said in a press release.
“As previously announced, the board and management team has been working to evaluate financial and strategic opportunities to maximize stockholder value,” the company said. “The board believes that separating the company’s refined coal related business will help further this objective.”
The board will now work to spin off the company’s ownership stake of Clean Coal Solutions – the provider of the CyClean refined coal technology – which will result in two independent, publicly-traded companies.
“Today’s announcement is a significant step towards unlocking stockholder value and we are pleased that this process in underway,” said Chris Shackelton, Chair of the Board’s Finance Committee.
Written by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/power/13022015/aes-to-spin-off-refined-coal-business-coal1887/