(RTTNews) – Shares of Advanced Emissions Solutions, Inc. (ADES) are surging over 35% on Thursday morning after the company announced a 15-Year activated carbon supply agreement with Cabot Corp. (CBT)
ADES is currently trading at $5.59, up $1.53 or 37.68%, on the Nasdaq.
Advanced Emissions Solutions along with its subsidiary companies held by ADA Carbon Solutions said it has entered into a 15-year master supply agreement with Cabot Norit America, Inc., a subsidiary of Cabot, to supply lignite activated carbon products, including powder activated carbon and granular activated carbon.
The deal is expected to increase the company’s annual revenue growth by 30% to 40% and annual EBITDA by $10 million to $15 million.
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