Advanced Emissions Solutions, Inc. has announced that Tinuum Group, LLC, 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 completed a transaction for an additional refined coal (RC) facility. The RC facility is located at a coal-fired power plant that has historically burned in excess of 3.1 million tpy of coal and is royalty bearing to ADES. With this addition, Tinuum Group has 21 invested facilities in full-time operation.
L. Heath Sampson, President and CEO of ADES, commented: “The momentum that began to build late last year in our RC segment has carried over into 2019. I am pleased Tinuum has secured a tax-equity investor for an additional facility, bringing the total number of operational units to 21 and making it the second contracted refined coal facility in 2019.
“The cadence of closures this year is consistent with our previously outlined expectations, and we continue to maintain visibility into an additional 5 million - 6 million t, in 2019, that have the potential to add to our future projected cash flows from this business.
“We have worked closely alongside Tinuum as they have diligently worked to educate prospective investors around the benefits and importance of refined coal in helping curtail harmful emissions, and we are pleased to see these efforts translate into shareholder value.”
Read the article online at: https://www.worldcoal.com/power/31052019/tinuum-group-completes-new-refined-coal-facility-closure-with-third-party-investor/
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