<SEC-DOCUMENT>9999999997-13-017122.txt : 20131204
<SEC-HEADER>9999999997-13-017122.hdr.sgml : 20131204
<ACCEPTANCE-DATETIME>20131204132243
ACCESSION NUMBER:		9999999997-13-017122
CONFORMED SUBMISSION TYPE:	CT ORDER
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20131204
DATE AS OF CHANGE:		20131204
<ACTION-DATE>20131204
<RECEIVED-DATE>20131204

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Advanced Emissions Solutions, Inc.
		CENTRAL INDEX KEY:			0001515156
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS CHEMICAL PRODUCTS [2890]
		IRS NUMBER:				275472457
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CT ORDER
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-54992
		FILM NUMBER:		131256609

	BUSINESS ADDRESS:	
		STREET 1:		9135 S RIDGELINE BOULEVARD, SUITE 200
		CITY:			HIGHLANDS RANCH
		STATE:			CO
		ZIP:			80129
		BUSINESS PHONE:		303-734-1727

	MAIL ADDRESS:	
		STREET 1:		9135 S RIDGELINE BOULEVARD, SUITE 200
		CITY:			HIGHLANDS RANCH
		STATE:			CO
		ZIP:			80129
</SEC-HEADER>
<DOCUMENT>
<TYPE>CT ORDER
<SEQUENCE>1
<FILENAME>filename1.pdf
<TEXT>
<PDF>
begin 644 filename1.pdf
M)5!$1BTQ+C4-"B6UM;6U#0HQ(#`@;V)J#0H\/"]4>7!E+T-A=&%L;V<O4&%G
M97,@,B`P(%(O3&%N9RAE;BU54RD@+U-T<G5C=%1R9652;V]T(#$P(#`@4B]-
M87)K26YF;SP\+TUA<FME9"!T<G5E/CX^/@T*96YD;V)J#0HR(#`@;V)J#0H\
M/"]4>7!E+U!A9V5S+T-O=6YT(#$O2VED<UL@,R`P(%)=(#X^#0IE;F1O8FH-
M"C,@,"!O8FH-"CP\+U1Y<&4O4&%G92]087)E;G0@,B`P(%(O4F5S;W5R8V5S
M/#PO1F]N=#P\+T8Q(#4@,"!2+T8R(#<@,"!2/CXO4')O8U-E=%LO4$1&+U1E
M>'0O26UA9V5"+TEM86=E0R]);6%G94E=(#X^+TUE9&EA0F]X6R`P(#`@-C$R
M(#<Y,ET@+T-O;G1E;G1S(#0@,"!2+T=R;W5P/#PO5'EP92]'<F]U<"]3+U1R
M86YS<&%R96YC>2]#4R]$979I8V521T(^/B]486)S+U,O4W1R=6-T4&%R96YT
M<R`P/CX-"F5N9&]B:@T*-"`P(&]B:@T*/#PO1FEL=&5R+T9L871E1&5C;V1E
M+TQE;F=T:"`R,#8Q/CX-"G-T<F5A;0T*>)R=66UOXD80_AXI_V&E?K&EL.?=
M]?JEJBKE@%RIFJ1-.*G2755!@&#)8(K-O?37=V9L$XR]9M6+C@3S[.R\/C.[
ML'>_LY]^>G<_G(R8]_//[/UHR-Y/KZ_>W0DF))NNKJ\$\^!',*DC+D(6>A&/
M`S;=7%]Y[!5?/EQ??7(^/KB^,YFZ`^6,W8%T1NP9WOC.[72,SY[=O]CTU^NK
M,<A&^;50I16/]:G03PX[P;+Q_9"Q$R7%B9*U$!$&/(Q8$&LN_$K(\U&3X4?0
M[&DRG>`;>D*?L5O4>,3&?[I".,-?Z.T'-RHA;/AX[PZT<X]6/:,AM&CR^&`P
MQ%>P>=S4H=<0V6&(##RN0Q9$@JM:R&CI!LX+J+%$?3:N4,[<'<#K$I[MX3_S
M;YCTA#)Z6'"MFS)[%5,=BL4>]Z3/@B#DVDJ(WQ6F0'!?L@!"'M9"'I]&XR?V
MP8V=IUNT[V$Z><`@,'<0.\/'ASNT=S(:/TPQ*I/;WQAEU1,$27B07/=N%64`
M&`*C/;+_=-=>U767ZI#[$%P5\[B600F/RD]_.:8:NYQU].>?0_@0,NZ#"T:4
M*V_Q$1G)'N_`'4S$RC>:I+@7-M7I-2GH":D,+!,V[$I8H;D4+!#R+;EN%U]F
M6XQEF;2^LW@SG-(WR7-\DF2$RAF55X:N2`_XI(!/<E,VAY#&NKGA#9ML403N
MQTWKXH#'9XKV6AMU6*N\@'N:Z3BRK(*XRV72YU[,=.2_Y>,=4E"2HE?08>PA
MX\Q@B`S`$-5<[GDF<!BUP29LI,FX4^S`B(VY)YI8[<>Q-'E?M/$F`Y649U@V
M@%15T!U>0".32DK&9Z;"8UQAW$?)EF^&[B`L@_&#D4U]S",[2W38PBI/Q=J$
MCR*PTRR[W0N]KOSRRR0-O3=R^+OCGTD)R"_@EL;R?B5$8VR0YV-#Q3,:G*$B
M*X%=G;&6XBNNNZ0TR!HHS9--+)(2]-'MD9.,BT-H<<VUXTV"W)7G"18H<%/%
M6.FAJ'C,Q%8RU-P_DW9#K6WB2E5J8V(L&<<X"UA9K#S9PN:'^0;53DC)8KE@
MY`#:?0;[[G8IV8,ZX/NBLHX=M@L:+4R;8??!M#[=[,F$A98?GSG@D"Z9Q$+S
MYZ95<8@5T%AEJGOM"7YFN31I7B<14$6H*_!^Z8;./P>T.$<7^,X6/?2*[8BA
M;[+M*@&':&=;>@A]E3)RZMX=!)1-Y+]-3=_;@JTRFLR2[2IS!Y&SW\Q<_>9A
M(X5%7.I3]5BI,-(8A-'$8\!(87/5!>(+SQ9\(K6_H=UH<7I80+:L0.-]MF'%
M>@F]N_IXG<!L-B]3*F=%9LR12/&S+69&*/2HJ(DUBHU%"WL'60W>5L[F4MAA
M5HGK5<+4!@64$I+'*=B4>\+3I,XI]@\35O@\.)-KY"`1MK"K)(6@N'WY(X!B
M]9DZ#]D7/#]L\,@@G*JN(6N%J55+J;@*FT)ZSQ=2MQ<8.4T'+6Q_+^@YC&B(
ME+"3TG4:J:1@^JF+`2D[2@/['G@#ZSY?0E`6+"N9E>AD=R0&^G!;S/I&VJIA
M6RDB_?@,"Q2!#1?J??[=.#)Z..DT%O4RA`S4V0)JH,C9:/%I$P63_W][]`6P
M=MS<!X9Y:HTU&9E2R0<6"\69UXR\`>WA'%RL9P606U)263]U^*&/9\AR(9(Z
MLON&HLK^.<S29)4L<^JO.?0,B'UWTWC)-IOEWBU/1LDL91FE#%!M`%)GX->`
M'AO:QK$Q`R7#\TLZ0]0;)`FI"6&BN`&M9RN&6TSP0+9=(:^0+LT=;U&CXH9I
M]I'3\94/40:':4Y^=F#1_+,+KY\='WX'U6B##6.$!GXI?8M.RG#9B@V)J'?9
M?@95<MSE[FA^??Y94V%=,A#JYL@BY)F"G+LAN=LR0;=94?;JC.T.\[>))_WN
MBNJ689'D+VF6+UE2<(8F5T=7TG61;(DY:1Y(Z<_OKO2<&US).MIF4CJ3&A+!
MJ]G*E,4^9F3#%/#(:H]-;5-JOB:77/"%4F]<N,K2-/N:;%_=4Q77R9RL+W+V
ME0HVI?,FVZ)EX*7YDJ'W$)\N*97IBJ5T(W3Z$UW0DV1;\D)C`EE+@T*1'*<@
MMJ-D3;)%SO+=41:E/I3+XD?C/.#C+5'#HGYV[[JPJ?T"!\].4FU+Z;DC\:'/
M:]L>884-I#TVCEK8\3>L78HHU*>1QE6`IX_&2N&9>[-HH0,C-FQAC?,!-!.E
M[&R5<.KTM!VVNHQI8(OU/CN\XOE];5P&I2;#YK(1=K8Z.?%W8UQ2X@;G+NEA
M%4EA;#$>M1B3ZNV$Z[I/JQ).P9Q[<1BN$LX.6R:<';9,."NL!/Z"(-AAR^!:
M8:O@&K%M;W;=U]7>A"/]Y9F[\J85MO*F%;;RI@G;MJ3KTK"V)/"[2;'+DE/L
M\9!$+#W,Z&:@;)3'N<UX(*#[RH:X&S;'8J!.B(T!"XXX?P1-/Z=;!VSZU/!W
M-"PU;AA:#?\&6LH^/]`%Q;%?]W<\I3VDE9/NGRZQC*E1TVYX7*HFUD.QSO9X
M:A72,4W)(H+C1-24:^I1(M(\")K8_B][NF[J:DN`IK6=E*XOOVHI4O*P2TI7
M:EAAJR2WPE9);H.M*<.$;5O=<Q^H/+K@MK/:"EM9;86MK+;!UE9;82NBM,'6
M1'F*':?)OS@?8.;/:2Y>LWM.7RW='_:[-5:%J0I\CZY6C'NWH]-S0I?X9:AE
M=.RP973LL&5TK+!5=.RP972LL%5T&MCGFO1PV*#K@F*&$=D#.P7&N."WN+ZR
MW#6,\`K?B*48_@?GE9)E#0IE;F1S=')E86T-"F5N9&]B:@T*-2`P(&]B:@T*
M/#PO5'EP92]&;VYT+U-U8G1Y<&4O5')U951Y<&4O3F%M92]&,2]"87-E1F]N
M="]4:6UE<R,R,$YE=R,R,%)O;6%N+$)O;&0O16YC;V1I;F<O5VEN06YS:45N
M8V]D:6YG+T9O;G1$97-C<FEP=&]R(#8@,"!2+T9I<G-T0VAA<B`S,B],87-T
M0VAA<B`Q,3@O5VED=&AS(#0P(#`@4CX^#0IE;F1O8FH-"C8@,"!O8FH-"CP\
M+U1Y<&4O1F]N=$1E<V-R:7!T;W(O1F]N=$YA;64O5&EM97,C,C!.97<C,C!2
M;VUA;BQ";VQD+T9L86=S(#,R+TET86QI8T%N9VQE(#`O07-C96YT(#@Y,2]$
M97-C96YT("TR,38O0V%P2&5I9VAT(#8W-R]!=F=7:61T:"`T,C<O36%X5VED
M=&@@,C4U."]&;VYT5V5I9VAT(#<P,"]82&5I9VAT(#(U,"],96%D:6YG(#0R
M+U-T96U6(#0R+T9O;G1"0F]X6R`M-34X("TR,38@,C`P,"`V-S==(#X^#0IE
M;F1O8FH-"C<@,"!O8FH-"CP\+U1Y<&4O1F]N="]3=6)T>7!E+U1R=654>7!E
M+TYA;64O1C(O0F%S949O;G0O5&EM97,C,C!.97<C,C!2;VUA;B]%;F-O9&EN
M9R]7:6Y!;G-I16YC;V1I;F<O1F]N=$1E<V-R:7!T;W(@."`P(%(O1FER<W1#
M:&%R(#,R+TQA<W1#:&%R(#$R,B]7:61T:',@-#$@,"!2/CX-"F5N9&]B:@T*
M."`P(&]B:@T*/#PO5'EP92]&;VYT1&5S8W)I<'1O<B]&;VYT3F%M92]4:6UE
M<R,R,$YE=R,R,%)O;6%N+T9L86=S(#,R+TET86QI8T%N9VQE(#`O07-C96YT
M(#@Y,2]$97-C96YT("TR,38O0V%P2&5I9VAT(#8Y,R]!=F=7:61T:"`T,#$O
M36%X5VED=&@@,C4V."]&;VYT5V5I9VAT(#0P,"]82&5I9VAT(#(U,"],96%D
M:6YG(#0R+U-T96U6(#0P+T9O;G1"0F]X6R`M-38X("TR,38@,C`P,"`V.3-=
M(#X^#0IE;F1O8FH-"CD@,"!O8FH-"CP\+T%U=&AO<BAU<RD@+T-R96%T;W(H
M_O\`30!I`&,`<@!O`',`;P!F`'0`K@`@`%<`;P!R`&0`(``R`#``,0`P*2`O
M0W)E871I;VY$871E*$0Z,C`Q,S$R,#0Q,S(P-3`M,#4G,#`G*2`O36]D1&%T
M92A$.C(P,3,Q,C`T,3,R,#4P+3`U)S`P)RD@+U!R;V1U8V5R*/[_`$T`:0!C
M`'(`;P!S`&\`9@!T`*X`(`!7`&\`<@!D`"``,@`P`#$`,"D@/CX-"F5N9&]B
M:@T*,38@,"!O8FH-"CP\+U1Y<&4O3V)J4W1M+TX@,CDO1FER<W0@,C`Y+T9I
M;'1E<B]&;&%T941E8V]D92],96YG=&@@-3$W/CX-"G-T<F5A;0T*>)S55<%J
MXS`0O1?Z#_,'\LS(E@VEL&Q;6DI#2`)[*#VXB38Q3:SB.M#^_8X\*?6AAUJW
MA>#1C-Y['D4O$[20`3K($;`$S`BP`LP9*)./!4*@/`<BX*P`8N#<`5FP62D;
M8/,*J!"VH$6D(*`2"A1>!451"`F<Z#*"<QDP01F5&$IG@2U4PN4<*B>00MXN
M<'822P%)-R@0EG:PE$T&I%B4=JV-16G32B(=.R?[N<2J@HL+,X_@#!9F:>9F
M]?'JS;+OCNO^>N\/YOX1LB<P\RT,F,O+\[,?4'`ZA:93>#K%3J?DTRG%=(J;
M3BFG4ZJ$JTRY_H3[QP0#8((#,,$"F.`!3#`!)K@`$VR`"3Z@!!]0RAQ(\`%]
M[X/LDU-W_?=6B(`XSH=0:JB&0)D&U$`:6(/R9)X/H="@*J0JI"JL*JPJK"JL
M*JPJK"JL*JPJK"H\J#S!Z4BC(ZPZ[Q<A]&81]OZA?HWS/1Y6CNK;83=.^E@9
M?B8J,]J=^??^WG\`GJ1O1*L-O3>S^+AN-U_)2J#/X=TL_;HWM[[>^$[7D?.Y
MOFOW3>N7NSIV&`N_6E&H^R:TI[SKF[^U+(;L3^A>GD-X,5=A?3Q(3T/E;>=]
MK[?U4*^[,,I_[^0YRJ^:>A^VH\)RWVS\"*OO$=BVJP_FIMD>.W\ZZ^QX>'N,
M?^/YU[?['YGA_.P?,9HNGPT*96YD<W1R96%M#0IE;F1O8FH-"C0P(#`@;V)J
M#0I;(#(U,"`P(#`@-3`P(#`@,"`P(#`@,"`P(#`@,"`R-3`@,S,S(#(U,"`P
M(#4P,"`U,#`@-3`P(#4P,"`U,#`@-3`P(#`@,"`P(#4P,"`P(#`@,"`P(#`@
M,"`P(#<R,B`P(#<R,B`W,C(@-C8W(#8Q,2`W-S@@-S<X(#,X.2`P(#`@-C8W
M(#DT-"`W,C(@-S<X(#`@,"`W,C(@-34V(#8V-R`W,C(@,"`P(#<R,B`P(#`@
M,"`P(#`@,"`U,#`@,"`U,#`@-34V(#0T-"`U-38@-#0T(#`@,"`P(#(W."`P
M(#`@,C<X(#@S,R`U-38@-3`P(#`@,"`T-#0@,S@Y(#,S,R`U-38@-3`P72`-
M"F5N9&]B:@T*-#$@,"!O8FH-"EL@,C4P(#`@,"`P(#`@,"`P(#`@,S,S(#,S
M,R`P(#`@,C4P(#,S,R`R-3`@,"`U,#`@-3`P(#4P,"`U,#`@-3`P(#4P,"`U
M,#`@,"`P(#`@,C<X(#`@,"`P(#`@,"`P(#<R,B`V-C<@-C8W(#<R,B`V,3$@
M-34V(#`@,"`S,S,@,"`P(#`@.#@Y(#<R,B`P(#`@-S(R(#8V-R`U-38@,"`W
M,C(@,"`P(#`@,"`P(#`@,"`P(#`@,"`P(#0T-"`U,#`@-#0T(#4P,"`T-#0@
M,S,S(#4P,"`U,#`@,C<X(#`@,"`R-S@@-S<X(#4P,"`U,#`@-3`P(#4P,"`S
M,S,@,S@Y(#(W."`U,#`@-3`P(#<R,B`U,#`@-3`P(#0T-%T@#0IE;F1O8FH-
M"C0R(#`@;V)J#0H\/"]4>7!E+UA2968O4VEZ92`T,B]76R`Q(#0@,ET@+U)O
M;W0@,2`P(%(O26YF;R`Y(#`@4B])1%L\03-"1C-!1C)&135#-S4T1D%#,C5&
M0S(X.$-%.4$W.#4^/$$S0D8S048R1D4U0S<U-$9!0S(U1D,R.#A#13E!-S@U
M/ET@+T9I;'1E<B]&;&%T941E8V]D92],96YG=&@@,3(S/CX-"G-T<F5A;0T*
M>)PUS\D-PD`,A>$W80E9F2'L4`HUT%'HA`-2SMSH#BD8_^"#/UGRDVS):AR#
M]21]Z>'EA,$IWD[Y=*J'4U^=YB)E%H@ZP!%.L(??RMD";?>?`F0P@2G,8`XY
M+*"`$BJHH8$6EA`AP0HZ6,,&MK"S.^/-_TMWZ0/QC`O\#0IE;F1S=')E86T-
M"F5N9&]B:@T*>')E9@T*,"`T,PT*,#`P,#`P,#`Q,"`V-34S-2!F#0HP,#`P
M,#`P,#$W(#`P,#`P(&X-"C`P,#`P,#`Q,C4@,#`P,#`@;@T*,#`P,#`P,#$X
M,2`P,#`P,"!N#0HP,#`P,#`P-#(P(#`P,#`P(&X-"C`P,#`P,#(U-38@,#`P
M,#`@;@T*,#`P,#`P,C<S-"`P,#`P,"!N#0HP,#`P,#`R.3<W(#`P,#`P(&X-
M"C`P,#`P,#,Q-3`@,#`P,#`@;@T*,#`P,#`P,S,X."`P,#`P,"!N#0HP,#`P
M,#`P,#$Q(#8U-3,U(&8-"C`P,#`P,#`P,3(@-C4U,S4@9@T*,#`P,#`P,#`Q
M,R`V-34S-2!F#0HP,#`P,#`P,#$T(#8U-3,U(&8-"C`P,#`P,#`P,34@-C4U
M,S4@9@T*,#`P,#`P,#`Q-B`V-34S-2!F#0HP,#`P,#`P,#$W(#8U-3,U(&8-
M"C`P,#`P,#`P,3@@-C4U,S4@9@T*,#`P,#`P,#`Q.2`V-34S-2!F#0HP,#`P
M,#`P,#(P(#8U-3,U(&8-"C`P,#`P,#`P,C$@-C4U,S4@9@T*,#`P,#`P,#`R
M,B`V-34S-2!F#0HP,#`P,#`P,#(S(#8U-3,U(&8-"C`P,#`P,#`P,C0@-C4U
M,S4@9@T*,#`P,#`P,#`R-2`V-34S-2!F#0HP,#`P,#`P,#(V(#8U-3,U(&8-
M"C`P,#`P,#`P,C<@-C4U,S4@9@T*,#`P,#`P,#`R."`V-34S-2!F#0HP,#`P
M,#`P,#(Y(#8U-3,U(&8-"C`P,#`P,#`P,S`@-C4U,S4@9@T*,#`P,#`P,#`S
M,2`V-34S-2!F#0HP,#`P,#`P,#,R(#8U-3,U(&8-"C`P,#`P,#`P,S,@-C4U
M,S4@9@T*,#`P,#`P,#`S-"`V-34S-2!F#0HP,#`P,#`P,#,U(#8U-3,U(&8-
M"C`P,#`P,#`P,S8@-C4U,S4@9@T*,#`P,#`P,#`S-R`V-34S-2!F#0HP,#`P
M,#`P,#,X(#8U-3,U(&8-"C`P,#`P,#`P,SD@-C4U,S4@9@T*,#`P,#`P,#`P
M,"`V-34S-2!F#0HP,#`P,#`T,C(R(#`P,#`P(&X-"C`P,#`P,#0U,#D@,#`P
M,#`@;@T*,#`P,#`P-#@Q-B`P,#`P,"!N#0IT<F%I;&5R#0H\/"]3:7IE(#0S
M+U)O;W0@,2`P(%(O26YF;R`Y(#`@4B])1%L\03-"1C-!1C)&135#-S4T1D%#
M,C5&0S(X.$-%.4$W.#4^/$$S0D8S048R1D4U0S<U-$9!0S(U1D,R.#A#13E!
M-S@U/ET@/CX-"G-T87)T>')E9@T*-3$S.0T*)25%3T8-"GAR968-"C`@,`T*
M=')A:6QE<@T*/#PO4VEZ92`T,R]2;V]T(#$@,"!2+TEN9F\@.2`P(%(O241;
M/$$S0D8S048R1D4U0S<U-$9!0S(U1D,R.#A#13E!-S@U/CQ!,T)&,T%&,D9%
M-4,W-31&04,R-49#,C@X0T4Y03<X-3Y=("]0<F5V(#4Q,SDO6%)E9E-T;2`T
=.#$V/CX-"G-T87)T>')E9@T*-C$U-`T*)25%3T8_
`
end
</PDF>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
