BNET Industries

Market Cap:$23.2M
Last Fiscal Year Sales:$16.1M
  • Public
  • US
Dow Jones Description

We develop and implement proprietary environmental technology and provide specialty chemicals to the coal-burning electric utility industry. Revenues are generated through (1) the supply of powdered activated carbon injection (ACI) systems, and related services for the growing mercury emission control (MEC) market, including projects that are co-funded by government (Department of Energy DOE) and industry and (2) the sale of specialty chemicals and services for flue gas conditioning (FGC) and other applications. We have also begun research and development efforts in CO 2 capture and control from coal-fired boilers, and we recently signed and commenced work on our first significant contract for this work which is scheduled to continue over at least the next two years. In addition, through the Carbon Solutions joint venture with Energy Capital Partners I, LP and its affiliated funds (ECP) we are constructing a Greenfield activated carbon (AC) manufacturing facility in Coushatta, Red River Parish, Louisiana (the AC Facility) for mercury control applications and are developing interim sources of AC to supply to utility customers until such time as the AC Facility is operational. We are also developing and marketing our refined coal technology through our Clean Coal joint venture with NexGen Refined Coal, LLC (NexGen), an affiliate of NexGen Resources Corporation. ...

Director, President and Chief Executive Officer
Michael D. Durham
Number of Employees 64
Contact Information

8100 SouthPark Way Unit B

Littleton, Colorado 80120-4525

adaes.com

(303) 734-1727

NAICS Code Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use: 334512

Recent Events

  • Wider Q3 loss for ADA-ES

    11/16/09 - Financial Announcement - View Story

  • ADA-ES Reports Second Quarter Results

    8/13/09 - Financial Announcement - View Story

News & Analysis

ada-es inc. and stock - All News and Analysis

Decision Makers

Name (plus bio) Position
Michael D. Durham Director, President and Chief Executive Officer
C. Jean Bustard COO
Jean Bustard Chief Operating Officer
Mark H. McKinnies Director, Senior Vice President, Chief Financial Officer and Secretary
Cameron Martin Vice President Emissions Control
Jonathan Barr Vice President, Sales & Marketing
Richard L. Miller Vice President, Business Dev, Utility Sys
Richard Schlager Vice President, Admin
Sharon Sjostrom Vice President of Technology
Greg Filippelli Director, Emission Strategies
John Rectenwald Director of Sorbent Operations
Beth Turner-Graziano Manager, Hr & Office Manager
Bob Wewer Manager of Proposals
Marki Morison-Gille Office Manager
Robin Stewart Manager, Contract Research and Development
Steve Young Sorbent Process Development Manager
Tom Campbell Manager, Field Demonstrations
Tom Millar Systems Integration Manager
Tony Smith Contracts and Procurement Manager
Travis Starns Manager, Mercury Control Systems Projects
Jim Altman Controller
Rachel Smith Controller
Ken Baldrey Irad Coordinator

Board of Directors

Name (plus bio) Position
Richard J. Swanson Director, Chairman of The Audit Committee, Member of The Compensation Committee
Ronald B. Johnson Director, Chairman of The Compensation Committee, Member of The Audit Committee
Jeffrey C. Smith Chairman of The Board of Directors, Member of Audit and Compensation Committees
Derek C. Johnson Board of Directors
Duane N. Bloom Board of Directors
John Swanson Richard Board of Directors
John W. Eaves Board of Directors
Nina French Board of Directors
Robert H. Lowdermilk Board of Directors
Robert N. Caruso Board of Directors
W. Phillip Marcum Board of Directors

Dr. Durham has been president of ADA-ES since 1996 when he founded the firm to focus on commercializing environmental technologies. Prior to that, in 1985, he co-founded ADA Technologies, Inc., an Englewood, Colorado, private company that contracts to the federal government and others for development of emission technologies. In 2002, he was appointed to the National Coal Council and is on the Board of Directors of the American Coal Council and the Institute of Clean Air Companies.

Organization Position Status
ADA-ES Director, President and Chief Executive Officer Current
The National Coal Council Board of Directors Current
ADA-ES Board of Directors Current
University of Florida PH.D. In Environmental Engineering Former
University of Florida M.S. Former
University of Denver M.S. Former
The Pennsylvania State University B.S. In Aerospace Engineering Former

Organization Position Status
ADA-ES COO Current

Organization Position Status
ADA-ES Chief Operating Officer Current

Mr. McKinnies is a CPA and worked for Peat, Marwick, Mitchell & Co. and Earth Sciences, Inc., prior to joining ADA-ES in 2000. He was president of Earth Sciences, a diversified minerals company, where his responsibilities covered a range of activities including the formation of domestic and foreign subsidiaries and joint ventures, acquisition of an industrial chemical production facility, commercialization of an innovative geochemical exploration service company, and numerous bank and equity financings.

Organization Position Status
ADA-ES Director, Senior Vice President, Chief Financial Officer and Secretary Current
ADA-ES Board of Directors Current

Organization Position Status
ADA-ES Vice President Emissions Control Current

Organization Position Status
ADA-ES Vice President, Sales & Marketing Current

Organization Position Status
ADA-ES Vice President, Business Dev, Utility Sys Current

Organization Position Status
ADA-ES Vice President, Admin Current

Ms. Sjostrom was appointed a Vice President effective January 1, 2007. Previously she served the Company as Director, Technology Development since 2003 when we acquired her company EMC Engineering, LLC, where she served as President since 2002. From 1998 until September 2002, Ms. Sjostrom served as Director of Emissions Control for Apogee Scientific, LLC. Ms. Sjostrom has a B.S. in Mechanical Engineering from Colorado State University, an M.S. in Mechanical Engineering from the California Institute of Technology and an Executive MBA from the University of Denver.

Organization Position Status
ADA-ES Vice President of Technology Current
ADA-ES Director, Technology & Development Former
University of Denver MBA Former
Colorado State University B.S. In Mechanical Engineering Former

Organization Position Status
ADA-ES Director, Emission Strategies Current

Organization Position Status
ADA-ES Director of Sorbent Operations Current

Mr. Swanson has been a strategy advisor and performance coach to CEOs and business owners in Colorado for 15 years through an affiliation with The Executive Committee, the world’s largest CEO membership organization. Previously, he was with Accenture, was the CFO of a $200 million company, and was the founder and president of a commercial real estate investment and development company in Denver. He has accomplished corporate turnaround projects, has served on a number of private company boards, and for eight years has been the Audit Committee Chairman of AHPC Holdings, Inc., a Chicago-based company in the healthcare field.

Organization Position Status
ADA-ES Director, Chairman of The Audit Committee, Member of The Compensation Committee Current
ADA-ES Board of Directors Former
University of Colorado B.A. In History Former

Mr. Johnson has been involved in all phases of the chemical industry, including production, compounding, and distribution—both domestically and internationally—for 47 years. He has held management and marketing positions with DuPont’s Industrial and Biochemical Department in strategic planning; Gamlen Chemical, a international compounding company, as manager of worldwide development; and vice president of Univar, a North American chemical distributor. Further, he was a board member with Charter National Bank and Trust from 1987 to 2000. He has been chairman of Twin- Kem International, Inc., a distributor of agricultural industrial chemicals, since 1984, and Chairman of ExecuVest, Inc., an oil and gas exploration company, since 1987.

Organization Position Status
ADA-ES Director, Chairman of The Compensation Committee, Member of The Audit Committee Current
ADA-ES Board of Directors Former

Organization Position Status
ADA-ES Manager, Hr & Office Manager Current

Organization Position Status
ADA-ES Manager of Proposals Current

Organization Position Status
ADA-ES Office Manager Current

Organization Position Status
ADA-ES Manager, Contract Research and Development Current

Organization Position Status
ADA-ES Sorbent Process Development Manager Current

Organization Position Status
ADA-ES Manager, Field Demonstrations Current

Organization Position Status
ADA-ES Systems Integration Manager Current
ADA-ES Contract Specialist Former

Organization Position Status
ADA-ES Contracts and Procurement Manager Current

Organization Position Status
ADA-ES Manager, Mercury Control Systems Projects Current
ADA-ES Project Engr Former

Organization Position Status
ADA-ES Controller Current

Organization Position Status
ADA-ES Controller Current

Organization Position Status
ADA-ES Irad Coordinator Current
ADA-ES Director, Prod Development Former

Mr. Smith has 25 years’ experience in the fields of environmental law and policy, and environmental business and technology. In 1978, Mr. Smith joined the U.S. EPA’s Office of General Counsel and served as the lead government attorney in multi-party Clean Air Act cases. In 1980, Mr. Smith co-founded and served as managing director of ESI International, Inc., a regulatory consulting firm employing lawyers, PhDs, engineers, and policy analysts. In 2003, Mr. Smith sold ESI International to open the Law Office of Jeffrey Smith. Mr. Smith is the past executive director of the Institute of Clean Air Companies, where he served for 17 years.

Organization Position Status
ADA-ES Chairman of The Board of Directors, Member of Audit and Compensation Committees Current

Mr. Derek Johnson is currently the Vice President of new business development for Kennametal, a public company based in Pittsburgh, PA. Mr. Johnson has held this position since October 2008. He has served as President of Fusion Specialties, a specialty supplier to the retail industry, from November 2005 to October 2008. From 1984 to 2005, Mr. Johnson was employed in various positions, most recently as President and Chief Operating Officer, by CoorsTek, a manufacturer of technical products, supplying critical components and assemblies for mining automotive, semiconductor, aerospace, electronic, power generation, telecommunication and other high-technology applications on a global basis. He has a Higher National Certificate from Kirkcaldy College in Scotland and an Executive MBA from the University of Denver. Mr. Ronald Johnson has been involved in all phases of the chemical industry, including production, compounding and distribution in domestic and international markets, for 50 years. He held a marketing position in strategic planning with Dupont, Industrial and Biochemical Department; Gamlen Chemical, an international compounding company as manager of worldwide development; and Univar, a large global chemical distributor from 1968 to 1984. He served as a Board member of Charter National Bank and Trust from 1998 to 2002. Mr. Johnson also served on the Board of Earth Sciences, Inc. from 1999 to 2003. Mr. Johnson has been President of Twin-Kem International, Inc., a distributor of agricultural and industrial chemicals, since 1984, and President of ExecuVest, Inc., an oil & gas exploration company, since 1987. Mr. Johnson is Chairman of the Compensation Committee.

Organization Position Status
Kennametal Inc. Vice President of New Business Development Current
ADA-ES Board of Directors Current
Fusion Specialties, Inc President Former
University of Denver MBA Former

Organization Position Status
ADA-ES Board of Directors Current

Organization Position Status
ADA-ES Board of Directors Current

Mr. Eaves has been President and Chief Operating Officer since April 2006. From 2002 to April 2006, Mr. Eaves served as our Executive Vice President and Chief Operating Officer. Mr. Eaves also serves on the board of directors of ADA-ES, Inc.

Organization Position Status
Arch Coal, Inc. President, Chief Operating Officer and Director Current
Arch Coal, Inc. Director Current
ADA-ES Board of Directors Current
Arch Coal, Inc. CEO, Executive Vice President & Vice President, Marketing Former

Organization Position Status
ADA-ES Board of Directors Current

Organization Position Status
ADA-ES Board of Directors Current

Organization Position Status
Aker Philadelphia Shipyard Inc Board of Directors Current
American Shipping Co. Inc. Board Member Current
ADA-ES Board of Directors Current
Applied Science & Technology, Inc. Vice President Former
Applied Science & Technology, Inc. General Manager Former
The Board, Inc. Chairman Former
Wayne State University MBA Former
The Pennsylvania State University B.S. In Engineering Mechanics Former
Wayne State University B.S. In Engineering Mechanics Former

Mr. Marcum is the Principal in MG Advisors, LLC. He served as Founder, Chairman of the Board, Chief Executive Officer and President of Metretek Technologies, Inc., a company specializing in energy services and technology for 17 years and has almost 40 years of experience in the energy industry, both as an operating officer and director and as an investment banker. He has been involved in many aspects of both disciplines. Having taken part in over 50 acquisitions; ranging in size from less then $5 million to $300 million, and raised in excess of $1 billion in debt and equity funds in over 30 transactions. In that role he worked with investment bankers, accountants and attorneys.

Organization Position Status
ADA-ES Board of Directors Current

Executive News

  • ADA-ES Reports Second Quarter Results

    TradingMarkets - 8/13/09 - View Story

  • ADA-ES Reports Second Quarter Results Revenues Up 26% in Second Quarter

    CNBC - 8/13/09 - View Story

  • ADA-ES Reports Second Quarter Results

    Street Insider - 8/13/09 - View Story

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     ADES $3.30 +0.55 (20.00% )
Average Volume 28,460
Shares Outstanding 7.05M
Market Cap 23.3M
Year High 5.97
Year Low 2.05
Earnings Per Share -1.67
P/E Ratio -1.98
Dividend N/A
Yield N/A
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