NASDAQ:ADES

A Leader in Clean Coal Technology

Knight

Clean Coal Conference

April 1, 2009

Boston, MA

©

Copyright 2009 ADA-ES, Inc.  All rights reserved.

Exhibit 99.1

-2-

Please note that this presentation contains forward-looking statements within the meaning of

U.S. securities laws, including statements relating to coal; future bids, contracts, projects,

project funding and revenues; statements regarding the new activated carbon (AC) facilities

we are building and our ability to supply AC; the likelihood, timing and impact of new laws

and court rulings on our target markets; and anticipated sizes of and growth in our target

markets. 

These forward-looking statements involve significant risks and uncertainties that could cause

the actual results to differ materially from those anticipated by these statements, including

failure to raise additional financing; termination of agreements; failure to satisfy conditions in

the

equity

financing

agreements

for

the

AC

facilities;

inability

to

sign

or

close

acceptable

coal

supply

or

off-take

agreements

in

a

timely

manner;

changes

in

the

costs

and

timing

of

construction

of

the

planned

AC

facilities;

availability

and

cost

of

raw

materials,

equipment

and

facilities;

changes

in

laws

or

regulations,

prices,

economic

conditions

and

market

demand;

impact

of

competition

and

litigation;

decreases

in

the

use

of

coal

for

electricity;

results of product demonstrations; technical and operational difficulties; availability of skilled

personnel and other factors discussed in greater detail in our filings with the SEC.  You are

cautioned not to place undue reliance on our forward-looking statements.  These statements

are presented as of the date made, and we disclaim any duty to update them unless

required by law to do so.

-3-

Clean Coal Technology

Coal is an abundant, cheap, and secure fuel

that provides over 50% of electricity in the US

1,100 coal-fired boilers in the U.S.

ADA provides the technology to burn it cleaner

Senior staff are industry recognized experts

–

30-year track record of developing and then

commercializing technologies

Positioned to take advantage of public and

political support for Clean Coal Technologies

-4-

Investment Highlights

Two

Significant

Avenues

of

Growth:

Activated Carbon Injection (“ACI”) is deemed maximum achievable

control technology (MACT) for the removal of mercury from flue gas

streams

ADA is a current market leader for ACI equipment and engineering

services

Existing regulations create $200-400 million activated carbon (“AC”)

market

Federal regulations being developed by EPA and Congress likely to lead

to $1 billion market for AC

ADA has started construction of the largest, most efficient AC

manufacturing facility in North America

Developing

capture

technology

for

greenhouse

gas

CO

2

Recently started work under $3.2 million DOE and utility funded program to

develop new technology

Over $3 billion allocated in the American Recovery and Reinvestment Act

for carbon capture and storage

Mercury

Control

CO

2

Control

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GROWTH AREA #1:  Mercury Control

-6-

Business Plan in Action for Mercury Control

Stage

1:

ADA

demonstrated

ACI

with

$80

million

from

DOE

and leading utilities:  Regulations followed.

Stage

2:

After

market

was

created

by

regulations,

ADA

became a leader in the sale of ACI equipment: approximately

$1 million per boiler.

Stage 3:

Provide AC to utilities for a continuous revenue

source: approximately $2 million per year per boiler.

2009-10:  Building AC production line; sourcing AC from

third parties for treating, storing and selling to utilities.

2010:  Activated Carbon Production Line commences

operations.

-7-

AC Market Drivers:

Regulations for Mercury Control

Existing rules create $200 -

400 million AC market

-8-

New Federal Legislation Likely in US

2/6/09: EPA announced it will proceed with

MACT mercury reduction standards

Senate pursuing multi-pollutant legislation for

SO

2

,

NO

x

and

Mercury,

and

possibly

CO

2

Canadian-wide mercury standard has been

passed

Expected to create $1 billion AC market

-9-

ACI Equipment Sales: Status

Contracts for over 110 ACI systems have been awarded by

power companies to date

–

ADA market share: approximately 32%

–

The rest are split between 7 or 8 other companies

A total of 150 systems will be needed to meet current state

regulations

Additional ~ 450 systems expected with federal regulation

Working closely with largest utilities in the U.S. and Canada

Key supplier of mercury control technology to major air

pollution control companies

–

Babcock and Wilcox, Alstom

Power, Hamon

Research Cottrell

and Hitachi, among others

-10-

New Market for Activated Carbon

Created by Mercury Control

0

500

1,000

Activated

Carbon

(millions of

lbs / yr)

Current H20 AC

Market

Developing Market

for Hg Control

2006

2010E

2015E

ANNUAL U.S. MARKET

Significant production gap

Based

on existing

regulations

Based on anticipated

Federal regulation

Development Project Organization

(assumes ECP purchase of Convertible Preferred Shares)

ADA -

ES

Energy Capital

Partners (ECP)

Underwood

Environmental

Products, LLC

Morton

Environmental

Products, LLC

Red River

Environmental

Products, LLC

ADA Carbon

Solutions,

LLC*

60%

Debt

Parent

Companies

Development

Company

Project

Companies

Crowfoot

Supply

Company, LLC

35% Owner

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*Expected to change to ADA-ES: 30%, ECP: 70%. Dependent upon final financing values.

50%

50%

Provided by Energy Capital Partners

-12-

ADA-ES New Activated Carbon Production

ADA-ES New Activated Carbon Production

Building largest AC plant(s) in North America 

Each production line will produce approx.150 mm lbs/yr

Capital cost: approx. $360 mm

3-5 year development process:

–

Under construction and

on schedule

Red River, LA plant startup

target: mid-2010

Permitted

for

2

nd

production

line

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Potential for Up to Six Production Lines

Two lines permitted adjacent to Red River Mine in Louisiana

Permits filed for two lines at a site near Bismarck, ND

Developing additional sites near coal sources to minimize feedstock costs

-15-

Equity Financing for AC Plant

Equity investment by ADA and Energy Capital Partners

(ECP) to date:  $25.5 mm each

–

Ownership

structure

for

1

st

production

line

expected

to

be:

ADA

30%,

ECP 70% (depending upon final capital costs and debt leverage)

–

ADA

has

right

to

50/50

participation

in

ownership

of

2

nd

through

6

th

production lines

ECP expected to fund the JV until closing of its purchase

of 3.6 mm Convertible Preferred ADA shares at an

average price of approx. $6.30

ECP has the right to provide additional equity at the

project level as necessary

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Debt Financing for AC Plant

Credit Suisse coordinating debt placement

Because of current conditions in the financial market,

debt financing will be delayed until improved market

conditions later in 2009

Equity continues to fund construction activities keeping

project on schedule

–

Weak credit markets have had no adverse impact on project

funding to date

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Interim AC Supply Plans

Currently supplying AC to utilities prior to new plant start-up

Sourcing high-quality AC

AC

processing and storage facility under construction in Natchitoches

Parish, LA; Construction expected to be completed in Q2’09

–

40,000

sq.

ft.

facility

w/

processing

capacity

of

8,000

lb/hr

of

Powdered

AC

–

Facility will complement ADA’s AC production plant in Red River Parish, LA

–

Equipment purchased to chemically treat, mill, package, and store AC

–

Easy access to rail and barge transportation

–

Scalable for additional long-term processing and storage capacity

Project led by industry veterans

–

John Rectenwald –

27 years AC  operations and manufacturing

–

Steve Young –

35 years AC experience in engineering and production

First test of ADA-provided AC achieved 90% mercury capture

-18-

Expected Sales of Activated Carbon

ADA will recognize revenues or income based on the final ownership

structure of the 1

st

and subsequent production lines

$0

$50

$100

$150

$200

$250

2009

2010

2011

2012

2013

2014

2nd Line

1st Line

Interim

GROWTH

AREA

#2:

Control of Greenhouse Emissions: 

Carbon Dioxide

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Carbon Capture and Storage (CCS)

International, Federal, and State Regulations are

being proposed requiring 50% to 80% reduction in

CO

2

emissions

Requires development of technology to capture

carbon from existing plants

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0

100

200

300

400

1

50% CO2

Reduction

New

ADA-ES CO

2

Capture Technology

Designed to capture CO

2

from flue gas in conventional coal-

fired boilers

Based on regenerable

solid sorbents -

advantages over

competing technologies:

–

For the customer:  lower cost and less parasitic energy

–

For ADA:  continuous revenues from sale of proprietary

chemical sorbents

$3.2 million DOE R&D program with extensive industry support

–

Southern Company

–

Luminant

–

American Electric Power

–

Xcel Energy

–

Electric Power Research Institute

Over $3 billion allocated in the American Recovery and

Reinvestment Act for carbon capture and storage

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Post-Combustion Capture

Emission

Control

SO

2

, NO

x

,

Hg, Particulate

STEAM

WATER

Coal*

50% C

20% H2O

12% O2

5% Ash

3% H2

(S, Hg)

*Coal

composition

varies

greatly

with

grade

and

source.

CO

2

Capture

Air

78% N2

21% O2

Purified CO

2

to Storage

Regeneration

Flue Gas

12% CO

2

74% N

2

12% H

2

O

4% O

2

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Financial Highlights

Cash flow positive on an

annual basis 2003-2007

Revenue CAGR of 35%, 2003

-2007

2008 ACI revenues flat,

impacted by CAMR and CAIR

vacaturs

As

of 12/31/08:

–

6.8 mm diluted shares outstanding

–

50%+ held by institutions

–

~10% held by insiders and

employees

Balance sheet highlights (at

12/31/08):

–

Cash & equivalents of ~$28 mm

–

Working capital of ~$18 mm

–

No long-term debt

–

Shareholders’

equity of ~$32 mm

Market cap: $18.2 mm (03/24/09)

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Summary

ADA-ES instrumental in creating mercury control market

–

Existing

rules:

estimated

150

ACI

systems,

400

million

lbs/yr

of

AC

-

$200-

400 mm market

–

Pending Federal Rule: estimated 600-700 ACI systems, 1 billion lbs/yr of AC -

$1 billion market

Leading provider of engineering services and equipment for

the mercury control market

Building new AC plant for this market; expected to come

online mid-2010

–

Construction started in August 2008

–

Energy

Capital

Partners

I,

LP

and

its

affiliated

funds

providing

equity

financing

–

Debt to be supported by long-term off-take contracts

–

In negotiations for additional contracted volume

–

Supplied bids for over $500 mm in AC with new RFPs

Developing carbon capture technology

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