Reflects strategic evolution to a leading North American environmental technology company
Corporate rebrand and NASDAQ ticker change to "ARQ" effective February 1, 2024
GREENWOOD VILLAGE, Colo., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (NASDAQ: ADES) (the "Company" or "ADES"), a producer of activated carbon and other environmentally efficient carbon products for use in purification and sustainable materials, today announced a corporate rebrand to Arq, Inc. ("Arq"), expected to be effective before market open on Thursday, February 1, 2024. This corporate rebrand follows ADES's completed acquisition of substantially all of the assets of Arq Limited and all of its subsidiaries in February 2023, which enabled the Company's expansion to becoming an environmental technology company, developing high-performing patented products that help industrial customers accelerate to a cleaner, more sustainable future.
"We are excited to mark the one-year anniversary of our transformational acquisition with a corporate rebrand that best reflects our expansion and evolution to a leading North American environmental technology company," said Bob Rasmus, Chief Executive Officer of ADES. "Today's announcement demonstrates our success in driving an efficient integration of the two platforms over the past 12-months, which delivers greater stakeholder value, diversifies our portfolio for customers and meaningfully expands our growth opportunities."
Mr. Rasmus continued, "We are more confident than ever in the value of the strategic steps we have taken to evolve ADES's legacy position as an industrial manufacturing company servicing a stable market, to adding on a technology-driven platform in a high-growth sector with sustainable, attractive economics. By adding Arq's proprietary feedstock base of bituminous coal waste to our proven operational foundation, we will turbocharge our growth and profitability, materially reduce our carbon footprint, and further solidify our leadership position in the activated carbon market. We are proud of the progress we have made to date and look forward to driving further value for all stakeholders."
"As Arq, we are committed to partnering with our customers to provide solutions that make the air we breathe, the water we drink and the soil our children play on safer and healthier," said Garrett Chandler, Arq's Vice President of Sales. "We are excited about our ability to drive growth and execution on our newly rebranded platform."
Further Information Regarding the Brand, Name and Ticker Change
The Company's corporate name change to Arq, Inc. and NASDAQ ticker change to "ARQ" are expected to be effective before market open on Thursday, February 1, 2024. At this time, the Company will also unveil its updated corporate website, reflecting its latest corporate brand. The Company will issue additional information and resources at this time.
Separately, on January 4, 2024 the Company filed a Form S-1 registration statement with the SEC. For the purpose of clarity, the Company's registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission on January 4, 2024 solely facilitates the resale of Company shares that are held by certain shareholders who currently hold Company shares (or a warrant to purchase Company shares) that were previously issued in connection with the Company's' acquisition of Arq on February 1, 2023. The registration statement does not relate to the issuance of any new shares by the Company, nor does it indicate any intention by the Company to issue any new shares.
About Advanced Emissions Solutions, Inc.
Advanced Emissions Solutions, Inc. serves as the holding entity for a family of companies that provide emissions solutions to customers in the power generation and other industries.
ADA brings together ADA Carbon Solutions, LLC, a leading provider of powder activated carbon ("PAC") and ADA-ES, Inc., the providers of ADA® M-Prove Technology. We provide products and services to control mercury and other contaminants at coal-fired power generators and other industrial companies. Our broad suite of complementary products control contaminants and help our customers meet their compliance objectives consistently and reliably.
CarbPure Technologies LLC, ("CarbPure"), formed in 2015 provides high-quality PAC and granular activated carbon ideally suited for treatment of potable water and wastewater. Our affiliate company, ADA Carbon Solutions, LLC manufactures the products for CarbPure.
Tinuum Group, LLC ("Tinuum Group") is a 42.5% owned joint venture by ADA that provides patented Refined Coal ("RC") technologies to enhance combustion of and reduce emissions of NOx and mercury from coal-fired power plants.
Arq is an environmental technology company founded in 2015 that has developed a novel process for producing specialty carbon products from coal mining waste. Arq has the technology and large-scale manufacturing facilities to produce a micro-fine hydrocarbon powder, Arq powder, that can be used as a feedstock to produce activated carbon. Arq powder can also be used as a blending additive for both the Carbon Black and Asphalt markets. When utilized in various products, Arq powder provides both a competitive cost and an improved environmental footprint. Arq's products are patent protected with a family of over 70 patents and applications.
Caution on Forward-Looking Statements
Statements in this press release regarding the Company's business that are not historical facts, including statements concerning optimizing cash flows and maximizing shareholder value, are forward-looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
Source: Advanced Emissions Solutions, Inc.
Investor Contact:
Alpha IR Group
Ryan Coleman or Chris Hodges
312-445-2870
ADES@alpha-ir.com
