Arq, Inc. provided an update on its Granular Activated Carbon (GAC) project, confirming that initial production at the Red River facility remains on track to commence in Q1 2025. The company expects a ramp-up period to reach a full production capacity of 25 million pounds annual run-rate of GAC in the second half of 2025.
Capital expenditures related to the GAC expansion at Red River in Q4 2024 were slightly above expectations, bringing the full-year 2024 capex for this project to approximately $80 million. This increase was attributed to additional external professional services, increased small-bore piping needs, and efforts to maintain previously communicated timelines.
The company announced it has commenced legal proceedings against its design firm for the GAC expansion project at Red River. Arq believes the design firm was negligent and breached its contract, resulting in a material increase in costs and time delays. The company is seeking damages related to these increased costs and delays, but believes there will be no impact on product performance.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.