Arq Contracts Additional Production For Its Granular Activated Carbon Product; Reflects >50% Of Nameplate Capacity Under Contract Roughly Six Months Ahead Of First Production

Incremental demand takes total annual contracted volume to 13 million pounds

Reflects >50% of nameplate capacity under contract roughly six months ahead of first production

GREENWOOD VILLAGE, Colo., July 15, 2024 (GLOBE NEWSWIRE) -- GlobeNewswire - Arq, Inc. (NASDAQ:ARQ) (the "Company" or "Arq"), a producer of activated carbon and other environmentally efficient carbon products for use in purification and sustainable materials, today announced it has secured material incremental contracted volume for the supply of granular activated carbon (GAC) to be produced at its strategic Red River facility. For competitive reasons, the Company will not be sharing the sectors or volumes of all associated customers.

Total contracted GAC demand now stands, when fully scaled up to ultimate run-rate requirements, at 13 million pounds per annum, representing 52% of Arq's expanded nameplate capacity of 25 million pounds per annum at its strategic Red River activated carbon manufacturing facility. Consistent with previous GAC contract awards, pricing remains attractive and represents a multiple of the Company's average powdered activated carbon (PAC) pricing, while significantly growing the total revenue base and expanding margins.