Advanced Emissions Solutions Announces CEO Transition

Board has appointed Robert Rasmus as next Chief Executive Officer effective July 17, 2023

GREENWOOD VILLAGE, Colo., July 17, 2023 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (NASDAQ: ADES) (the "Company" or "ADES"), a leader in emissions control solutions for power generation, industrial and municipal water purification markets, today announced that Mr. Robert "Bob" Rasmus has been appointed to succeed Greg Marken as the Company’s President and Chief Executive Officer on July 17, 2023.

L. Spencer Wells, Chairman of the Board, commented, "On behalf of the entire Board of Directors, I want to thank Greg for his service to the Company and his leadership for the past three years. Greg took over as CEO during an uncertain time at the height of the COVID-19 pandemic, and immediately took action to strengthen our business. The signing of the master supply agreement coupled with important wins in non-Power Generation markets greatly expanded our PAC production, improved the financial profile at Red River, and diversified the markets we serve. Most recently, he navigated a complex strategic review process and laid the foundation for our future as a differentiated environmental technology company with the successful acquisition of Arq Limited. We wish Greg all the best in his future endeavors."

Mr. Wells added, “I’d also like to welcome Bob to ADES and express our confidence in his capabilities. Bob is a proven executive leader and comes to us with a wealth of experience within the broader Energy and Materials industries, as well as capital markets. His confidence in the Company and its prospects is apparent as he has elected to align his interests with shareholders and tie the majority of his compensation to the equity performance of ADES. His track record and expertise are a perfect fit to lead the next phase our growth strategy and we look forward to his leadership.”

Mr. Rasmus commented, "ADES has a clear vision for its future to become a prominent environmental technology company in North America. ADES’s products make the air we breathe, the water we drink, and the soil our children play on safer and healthier. ADES’s products also reduce carbon and chemical emissions into the atmosphere – helping ensure a healthier world now and for future generations. The Company’s unique assets and capabilities, coupled with a clearly defined capital expansion plan, provide a clear runway toward scaling our production of Granular Activated Carbon and capturing our share of the growing need for innovative purification solutions. I am looking forward to leading this team and accelerating our momentum as we execute our strategy."