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SpatialNews.com Press Release
ADA-ES Receives Contract For New Air Pollution Control System
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LITTLETON, Colo.--July 19, 2004--ADA-ES, Inc. (OTCBB: ADES) today announced it signed a commercial contract to supply and install a flue gas conditioning (FGC) system to improve capture of flyash particles at a Midwestern coal-fired power plant. The plant is making provisions to switch to coal from the Wyoming Powder River Basin (PRB). ADA-ES' proprietary FGC technology will be used to enhance performance of the plant's high temperature electrostatic precipitator (ESP), which captures the flyash particles.
The contract calls for the purchase and installation of the equipment for approximately $300,000. The Company expects the equipment to be installed and operational in December 2004 and at that time, it will begin injecting ADA-ES' proprietary chemical. Based upon historical average usage of the chemical at existing customers' plants, it is anticipated that future chemical purchases will provide additional revenues of $500,000 - $700,000 per year.
PRB coals are the most plentiful and least expensive coals available in the country. These coals are also environmentally friendly because they are low in ash and sulfur. However, the flyash produced from PRB coals is more difficult to capture especially in high-temperature ESPs. ADA-ES' technology is based upon a patented chemical blend that has been proven to be effective at high temperatures where other competing technologies have difficulty performing. ADA-ES' systems have been continuously operating on similar power plant applications since the product was introduced in 1998.
Mike Durham, President of ADA-ES, stated, "This contract and expected future chemical sales represent a significant increase in revenues for our FGC product line, which historically been approximately $2 million per year. The Company was founded upon the commercialization of this innovative, high margin product. We expect the contract to enhance the Company's profitability as ADA-ES positions itself for the substantial expected growth in the mercury emission control market, which is stemming from current State regulations, the development of new coal-fired power plants and pending Federal regulations."
About ADA-ES
Headquartered in Littleton, Colorado, ADA-ES, Inc. develops and implements proprietary environmental technology and specialty chemicals that mitigate the environmental impact from electric power and industrial companies while reducing operating costs.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements in this document that are based on information the Company believes reasonable, but such projections and statements involve significant uncertainties. Actual events or results - including predicted revenues - could differ materially from those discussed in the forward-looking statements as a result of various factors including but not limited to changing market demand for ADA-ES chemicals and systems and changes in technology, laws or regulations, demand for the company's securities, and other factors discussed in the company's filings with the U.S. Securities and Exchange Commission
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