LITTLETON, Colo.--(BUSINESS WIRE)--ADA Environmental Solutions, Inc. (NASDAQ:ADES) announced today that it has executed an agreement with BE&K Construction Company of Birmingham, Alabama, a KBR Company (NYSE: KBR), for the engineering, procurement, and construction (EPC) work required to build ADA's first Activated Carbon (AC) production facility.
ADA and BE&K have been working together since November 2007 under a limited scope contract to complete numerous engineering tasks, equipment procurements and site work activities. With the signing of the agreement, BE&K has received full authorization to aggressively proceed with the remaining work to complete the facility. Over the past several months, ADA and BE&K have laid the groundwork to effectively and efficiently implement the remaining activities to complete the project on schedule.
In a news release issued by KBR today, David Zimmerman, President of KBR Services, stated, "This contract award allows KBR the opportunity to showcase its execution expertise in a market that supports the reduction of air emissions from coal fired power plants and is anticipated to grow exponentially in the future. The partnership between KBR and ADA allows leaders in their respective industries to come together to build a premier facility in an emerging market."
Dr. Michael Durham, President and CEO of ADA-ES, commented, "We are very pleased to have secured a company with the depth of expertise, experience, and talent that the BE&K/KBR team brings to this project. The EPC role is critical to completing the project on schedule and on budget, and BE&K has proven these abilities on multiple projects of this scale and larger."
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, 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.
KBR is a global engineering, construction and services company supporting the energy, petrochemicals, government services and civil infrastructure sectors. The company offers a wide range of services through its Downstream, Government and Infrastructure, Services, Technology, Upstream and Ventures business segments. For more information, visit www.kbr.com. BE&K, a division of KBR Inc., offers a full spectrum of construction, engineering, and maintenance services to clients in capital-intensive industries worldwide
Our statements regarding when our planned activated carbon production facility will be operational are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a "safe harbor" for such statements in certain circumstances. These statements are based on current expectations, estimates, forecasts, projections, beliefs and assumptions of our management and involve significant risks and uncertainties. Actual events or results could differ materially as a result of various factors, including but not limited to the availability of adequate supplies of AC and other raw materials and treatment and storage facilities for AC when needed; changes in the costs and timing of construction of the facility; inability to obtain acceptable financing for the facility in a timely manner; operational difficulties; availability of skilled personnel; changes in laws or regulations; impact of the lawsuit by Norit Americas and other factors discussed in our filings with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on the forward-looking statements made in this release, and to consult filings we make with the SEC for additional discussion concerning risks and uncertainties that may apply to our business and the ownership of our securities. The forward-looking statements contained in this press release are presented as of the date hereof, and we disclaim any duty to update such statements unless required by law to do so.
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