Advanced Emissions joint venture closes on Refined Coal facility transaction
Advanced Emissions announced that Tinuum Group, a joint venture among the company's subsidiary ADA-ES, an affiliate of NexGen Resources, and an affiliate of The Goldman Sachs Group, has completed a transaction for an additional Refined Coal facility. The RC facility is located at a coal-fired power plant that has historically burned in excess of 5.5 million tons of coal per year and is royalty bearing to ADES. With this addition, Tinuum Group has 22 invested facilities in full-time operation. Advanced Emssions CEO L. Heath Sampson commented, "At the end of 2018, we outlined what we believed was a clear path to securing an additional 12 million incremental tons in 2019 from prospective tax equity investors. I'm pleased to announce today that we have met this goal ahead of our target date as Tinuum has secured a third-party investor for facility number 22, making it the third contracted refined coal facility in 2019 and fifteenth royalty bearing facility overall. The 5.5 million tons related to this closure now brings us to over 12 million annualized tons contracted during 2019 and is larger than the historical annual tonnage associated with closures in 2018 (...)".