Board of Directors


Mr. L. Spencer Wells, Chairman of the Board and Chairman of the Compensation Committee

Founding Partner of Drivetrain Advisors LLC, a provider of fiduciary services to institutional asset managers. Former Partner of Silverpoint Capital and TPG Special Situations Partners, both multi-billion dollar alternative investment managers.

Over 20 years of experience investing across the capital structure in a variety of industries, including energy, financial institutions, chemicals and other basic industries.

Currently a Director on the Boards of several public and private companies in the Energy, Insurance, Health & Wellness and Customer Loyalty Industries. Trustee of Western Reserve Academy in Hudson, Ohio.

Earned a B.A. from Wesleyan University and an M.B.A. with Honors in Finance from Columbia University.


Ms. Carol Eicher, Chairman of the Nominating and Governance Committee

Over 30 years of experience in global manufacturing, operations and mergers and acquisitions from her senior leadership positions at Innocor Inc., The Dow Chemical Company, Rohm and Haas Company, Ashland Chemical Company and E.I. DuPont de Nemours and Company, Inc. Currently serves on the Board of Directors for Tennant Company since 2008. Served as the Chief Executive Officer of Innocor, Inc. from May 2014 to July 2017 and as a non-executive board chairman of Innocor, Inc. from August 2017 to April 2018. Holds a BS in Chemical Engineering from the University of Pennsylvania and an MBA from York College of PA.


Mr. Gilbert Li

Co-Founder and Managing Partner of Alta Fundamental Advisers, a private investment company. Spent his career focused on value-oriented investing across the capital structure. Served as an investment analyst for JMB Capital Partners. Previously held the roles of portfolio manager, trader, and investment analyst at Merrill Lynch, Watershed Asset Management, and J.P. Morgan Investment Management.

Attended the University of California, Berkeley with majors in Chemical Engineering and Material Science Engineering.


Mr. J. Taylor Simonton, Chairman of Audit Committee

Retired PricewaterhouseCoopers LLC (PwC) Assurance and National Office SEC Partner.

Current Board of Directors, Audit Committee Chair, member of the Nominating & Governance and Compensation Committees of Escalera Resources Co., which explores, develops and transports natural gas in the U.S.

Former Board of Directors, Lead Director, Audit Committee Chair, and a member of the Nominating & Governance, Compensation, and Valuation Committees of Crossroads Capital, Inc. (f/k/a BDCA Venture, Inc.). Former Board of Directors and Audit Committee Chair of Zynex, Inc.; Red Robin Gourmet Burgers, Inc.; and Fischer Imaging Corporation.

Former Board of Directors and Past Chairman of the Colorado Chapter of National Association of Corporate Directors (NACD) and holds NACD’s highest director credential – Board Leadership Fellow.

Bachelor of Science in Accounting from the University of Tennessee - Knoxville and is a CPA.

Board Diversity Matrix

Board Diversity Matrix for Advanced Emissions Solutions as of August 1, 2022
Total Number of Directors 4
Part I: Gender Identity Female Male Non-Binary Did Not
Disclose Gender
Directors 1 3 - -
Part II: Demographic Background
African American or Black - - - -
Alaskan Native or American Indian - - - -
Asian - 1 - -
Hispanic or Latin - - - -
Native Hawaiian or Pacific Islander - - - -
White 1 2 - -
Two or More Races or Ethnicities - - - -
Did Not Disclose Demographic Background -