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Advanced Emissions Solutions Completes Sale of Marshall Mine to Caddo Creek Resource Company
Streamlined balance sheet will better support operational focus on growth plans GREENWOOD VILLAGE, Colo., March 29, 2023 (GLOBE NEWSWIRE) -- Advanced
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[{"type":"text","content":"Streamlined balance sheet will better support operational focus on growth plans\nGREENWOOD VILLAGE, Colo., March 29, 2023 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (NASDAQ: ADES) (the “Company” or “ADES”), a leader in environmental solutions for power generation, industrial and municipal water purification markets, today announced that it closed its previously announced transaction to sell Marshall Mine LLC, the entity that owns the former lignite mine currently being reclaimed, located in Marshall, Texas (“Marshall Mine”), to Caddo Creek Resources Company, L.L.C. (“Caddo Creek”) The Company paid $2.2 million to Caddo Creek in exchange for Caddo Creek’s assumption of the Company’s $4.9 million asset retirement obligation related to the mine. The Company will recognize a gain of approximately $2.7 million related to this transaction. “I am pleased to announce the closing of our Marshall Mine sale to Caddo Creek, which fortifies our balance sheet and further de-risks the organization,” said Greg Marken, CEO of ADES. “Since acquiring Marshall Mine in 2020, working with our partners at Caddo Creek, we have completed a significant portion of the reclamation activities that we set out to accomplish and we are proud of the successes that have been achieved. With the transaction complete, we possess a cleaner and stronger balance sheet better suited to execute our growth plans in 2023 and fulfilling our objective of becoming a leading diversified environmental technology company.” About Advanced Emissions Solutions, Inc. Advanced Emissions Solutions, Inc. serves as the holding entity for a family of companies that provide environmental solutions to customers in the power generation, industrial and municipal water purification markets. ADA brings together ADA Carbon Solutions, LLC, a leading provider of powder activated carbon (\"PAC\") and ADA-ES, Inc., the providers of ADA® M-Prove™ Technology. We provide products and services to control mercury and other contaminants at coal-fired power generators and other industrial companies. Our broad suite of complementary products control contaminants and help our customers meet their compliance objectives consistently and reliably. CarbPure Technologies LLC, (“CarbPure”), formed in 2015 provides high-quality PAC and granular activated carbon ideally suited for treatment of potable ...