Advanced Emissions Solutions (NASDAQ:ADES) news for Thursday includes a deal with Cabot Corporation (NYSE:CBT) sending ADES stock soaring higher.
A news release from Advanced Emissions Solutions reveals that it has signed a 15-year master supply agreement with Cabot Corporation subsidiary Cabot Norit America. The deal has it supplying the company with activated carbon products.
Advanced Emissions Solutions notes that this will have it acting as the sole supplier of lignite-based activated carbon products to Cabot Norit America. The deal also has the company taking over the Cabot’s lignite mine that supplies its facility on Marshall, Texas.
The Advanced Emissions Solutions news release says that these changes will result in incremental increases over the next four or five quarters.