ADA-ES, Inc. plunges on broken agreement with Calgon Carbon
Shares of ADA-ES, Inc. (Nasdaq: ADES) are plummeting after Calgon Carbon Corp. (NYSE: CCC) announced today that it will not to pursue a long-term relationship with ADA-ES to jointly supply products to the electric power industry for the removal of mercury from coal-fired power plant flue gas.
Under the terms of the agreement, ADA-ES and Calgon Carbon had agreed to exclusively conduct joint marketing activities. After the exclusivity period ends on August 24, both parties will independently pursue the market.
Shares of ADA-ES tumbled 19.30%, or $3.35, to $14.0 in Thursday morning trading.
