ADA-ES Announces New Executive Vice President
Posted on May 17, 2012 at 16:15 PM EDT
ADA-ES, Inc. (NASDAQ:ADES) (“ADA”) today announced the hiring of Mr. Jonathan Lagarenne as the Executive Vice President in charge of Strategic and Corporate Development. Mr. Lagarenne has worked in the air pollution control (APC) industry for 22 years and brings significant experience in managing operations, growing business segments and business development. His executive leadership experience includes holding positions of General Counsel, Chief Operating Officer and Chief Executive Officer of Hamon Research Cottrell, Inc. (“Hamon”), a major supplier of emission control equipment. As CEO of Hamon, he led an effort that in three years increased revenues by 250% and operating profits by a factor of ten by revitalizing and refocusing the sales force.
This new position was created to support ADA’s five year growth strategy to take advantage of the opportunities created by the newly finalized EPA Mercury and Air Toxics Standard (MATS). This new regulation is expected to generate a market in excess of a billion dollars for the low CAPEX emission control technologies that ADA provides. ADA believes that there are opportunities to expand its current product lines by utilizing the increasing cash flow being produced from the Company’s Refined Coal business.
Dr. Michael Durham, ADA President and CEO, stated “Jon has worked with us as a business and legal consultant over the past five years on many of our strategic initiatives, and we have always appreciated his innovative, strategic, and collaborative approach to business creation. We are pleased that Jon will now be joining our executive team on a full-time basis.”
ADA-ES is a leader in clean coal technology and the associated specialty chemicals, serving the coal-fueled power plant industry. Our proprietary environmental technologies and specialty chemicals enable power plants to enhance existing air pollution control equipment, minimize mercury, CO2 and other emissions, maximize capacity, and improve operating efficiencies, to meet the challenges of existing and pending emission control regulations.
With respect to mercury emissions:
In addition, we are developing CO2 emissions technologies under projects funded by the U.S. Department of Energy (“DOE”) and industry participants.
This press release contains 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. The forward-looking statements include statements regarding the impact of the recently finalized EPA Mercury and Air Toxics Standard regulation and related matters. 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 laws and regulations, government funding, prices, economic conditions and market demand; timing of regulations and any legal challenges to them; impact of competition; availability, cost of and demand for alternative energy sources and other technologies; inability to commercialize our technologies on favorable terms; our inability to ramp up operations to effectively address expected growth in our target markets; 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 such statements and to consult our SEC filings 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.
Michael D. Durham, Ph.D., MBA, President & CEO
Mark H. McKinnies, CFO
Investor Relations Counsel
The Equity Group Inc.
Devin Sullivan, 212-836-9608
Thomas Mei, 212-835-9614
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