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ADA-ES Completes Phase I of Selection Process for Strategic Equity Partners for New Activated Carbon Production Plant
Publish Date : 1/3/2008 3:31:00 AM Source : Science and Technology News Onlypunjab.com
ADA-ES, Inc. (NASDAQ:ADES) announced today that it has completed the first phase of the selection process for a strategic equity partner for its first Activated Carbon (AC) production facility, and has received Indicative Bid Letters from substantial financial and strategic firms with significant experience in the energy sector. The Bid Letters expressed each entity’s interest in investing approximately 50% of the proposed equity in the AC project, which is likely to be carried out through what will initially be a wholly-owned subsidiary of ADA-ES.
The initial phase of the selection process, which was coordinated by the Company’s financial advisor, Credit Suisse, involved introducing the AC project to a number of companies in and related to the power generation and coal sectors. The AC production facility, which would be the largest AC plant built to date, is being designed to maximize efficiency and produce the most cost-effective AC product for the mercury control market. ADA-ES is currently in the process of site selection for the first plant, with sites in North Dakota and Louisiana, the two leading contenders; ADA-ES has filed applications for permits to build an AC plant in both states. Commercial operation of the first plant is planned for the first quarter of 2010.
All of the strategic equity partner candidates are well-capitalized and have significant plant operational experience, contracting and transportation expertise, and demonstrated success at developing large projects. In the next phase of the process, ADA and Credit Suisse will narrow this group of interested candidates in order to begin negotiating final terms for a definitive participation agreement.
Dr. Michael Durham, President and CEO of ADA-ES, commented, “We are very pleased with the Bid Letters we received from these companies for this very exciting project. We see the level of interest as a validation of our aggressive, proactive plans for this new market and the progress we have made to-date on project development. With any one of these candidates, we should be able to access not only the resources to move forward on the first, approximately $300 million production line, but potentially all six production lines we are permitting, which we believe will be needed to meet the demand for AC should a stringent Federal mercury control regulation be passed.”
About ADA-ES
Headquartered in Littleton, CO, ADA-ES is a leader in clean coal technology and the associated specialty chemicals. The Company develops and implements proprietary environmental technology and specialty chemicals that enable coal-fueled power plants to enhance existing air pollution control equipment, maximize capacity and improve operating efficiencies. Through its largest and fastest-growing segment, Mercury Emission Control, ADA-ES supplies activated carbon injection systems, mercury measurement instrumentation, and related services. Additionally, the Company is implementing plans to produce and supply activated carbon for reducing mercury emissions from coal-fired boilers |
'Greenhouse gases may have prevented ice age'
Publish Date : 1/29/2005 10:34:00 AM
Humans may have unwittingly saved themselves from a looming ice age by indiscriminately burning fossil fuels and interfering with the earth's climate, says a new study.
'Indian moon mission on track for 2007'
Publish Date : 1/27/2005 10:47:00 AM
India's plan to send an unmanned space probe to the moon in 2007 is on track, the head of the country's space agency has said.
Space agency to support disaster management
Publish Date : 1/27/2005 10:26:00 AM
India's space agency is framing a plan to evolve a disaster management support system using the surveillance capabilities of its extensive satellite network, its chief has said.
Pilfering crab has insect's nose
Publish Date : 1/26/2005 6:45:00 PM
A land crab re-invented key features of the insect nose over millions of years - a striking example of convergent evolution, Current Biology reports.
India to develop tsunami-warning system
Publish Date : 1/25/2005 1:33:00 PM
India will set up an early warning system for tsunamis in the Indian Ocean and share its predictions with other countries, Minister for Science and Technology Kapil Sibal said Monday.
'Human embryonic stem cell lines contaminated'
Publish Date : 1/25/2005 1:04:00 PM
The human embryonic stem cell lines currently available have been contaminated with a non-human molecule that endangers their potential therapeutic use, researchers say.
Neuroscience Solutions Corporation Announces Name Change to Posit Science
Publish Date : 1/25/2005 10:18:00 AM
Neuroscience Solutions Corporation, a leader in applied neuroscience and creator of programs that enhance cognitive function, announced plans today to change its name to Posit Science Corporation.
Sheep wool-based keratin for bone surgery
Publish Date : 1/24/2005 7:23:00 PM
New Zealand researchers have created a material based on keratin - a protein found in hair and nails - that could revolutionise bone surgery using the product from sheep wool, Xinhuanet reports.
Scientists Can't Examine Columbus' Tomb
Publish Date : 1/24/2005 5:32:00 PM
Authorities said Saturday that more discussions are needed before a Spanish research team can examine a tomb purportedly holding Christopher Columbus' remains, setting....
Harvard Bioscience Fourth Quarter 2004 Conference Call
Publish Date : 1/24/2005 2:37:00 PM
Harvard Bioscience, Inc. (Nasdaq: HBIO) will announce results for the fourth quarter and year ended December 31, 2004 after market trading hours on Thursday March 3, 2005.
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