ADA-ES Commits to Key Contracts to Build Activated Carbon Plant.Purchases of Furnaces and Boiler are Critical to Keep Project on Tight Schedule LITTLETON, Colo. -- ADA-ES, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADES (language) ADES - An early system on the IBM 704. Version: ADES II. [Listed in CACM 2(5):16 (May 1959)]. ) today announced that the Board of Directors has approved the execution of two critical contracts to initiate the construction of its activated carbon (AC) plant in Northwest Louisiana. The first contract is for the purchase of four multiple-hearth furnaces, which are key components of the AC production process. An additional contract was placed through the Company's engineering, procurement, and construction (EPC (1) (Entertainment PC) See HTPC. (2) (Electronic Product Code) A standard code for RFID tags administered by EPCglobal Inc. (www.epcglobalinc.org). ) contractor for the purchase of a boiler to generate steam for the activation of the carbon. ADA Ada, city, United States Ada (ā`ə), city (1990 pop. 15,820), seat of Pontotoc co., S central Okla.; inc. 1904. It is a large cattle market and the center of a rich oil and ranch area. believes that these contracts keep the Company on the critical path to maintain the schedule for the plant to start producing AC in the first half of 2010. As the market for energy related capital items continues to reflect increased pricing and limited availability When customers of the PSTN make telephone calls, they commonly make use of a telecommunications network called a switched-circuit network. In a switched-circuit network, devices known as switches are used to connect the caller to the callee. , the procurement of these components locks down the equipment with the longest lead times. Dr. Michael D. Durham, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ADA-ES, commented, "These contracts to initiate the construction of our AC plant represent a significant commitment by the Company to meet the needs of our customers in the power industry for mercury control. The decision by the Board to approve these contracts reflects its confidence that the Company will be able to finalize remaining contracts and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. issues in the near future." Dr. Durham continued, "The Company and our project development team have successfully navigated through a number of external events and new issues and kept this project on track. Meanwhile, the mercury control market has solidified, as we had projected, creating a favorable business environment capable of supporting the financial returns necessary to justify our aggressive business strategy. We will keep our investors and customers abreast of progress on the construction of the plant." About ADA-ES ADA-ES is a leader in clean coal technology and the associated specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. . 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 The selective and controlled use of electromagnetic, acoustic, or other emitters to optimize command and control capabilities while minimizing, for operations security: a. detection by enemy sensors; b. mutual interference among friendly systems; and/or c. , ADA-ES supplies activated carbon injection systems, activated carbon, mercury measurement instrumentation, and related services. To meet the needs of the power industry for mercury control, the Company is developing state-of-the-art facilities to produce activated carbon (AC) with the first plant projected to come on-line in 2010. Additionally, the Company is developing technologies for power plants to address issues related to the emissions of carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. . This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for such statements in certain circumstances. The forward-looking statements included in this release include statements regarding timing of commencement of operations at our planned AC facility and our ability to finalize remaining contracts and equity financing issues in the near future. These statements are based on current expectations, estimates, projections, beliefs and assumptions of our management. Such statements involve significant risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including but not limited to, changes in the costs and timing of construction of the planned AC facility; inability to sign or close acceptable definitive agreements for financing, construction or off-take agreements with respect to the facility in a timely manner; availability of raw materials and treatment and storage facilities; changes in laws or regulations, prices, economic conditions and market demand; impact of competition and the lawsuit by Norit Americas; operational difficulties; availability of skilled personnel and other factors discussed in greater detail in our filings with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on our forward-looking statements and to consult filings we make with the SEC for additional risks and uncertainties that may apply to our business and the ownership of our securities. Our forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so. |
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