Core Viewpoint - Arq, Inc. has completed its corporate rebranding from Advanced Emissions Solutions, Inc. and will begin trading on Nasdaq under the new ticker symbol "ARQ" on February 1, 2024, marking a strategic evolution towards becoming a leading North American environmental technology company [1][3]. Group 1: Corporate Rebranding and Trading - The company will celebrate its rebranding and first day of trading by ringing the Nasdaq opening bell on February 1, 2024, with CEO Bob Rasmus leading the ceremony [2]. - The rebranding reflects the company's commitment to its strategic expansion plan and transformation into a leading supplier of purification solutions, particularly focusing on granular activated carbon [3]. Group 2: Company Mission and Vision - Arq's new brand identity and logo are inspired by its focus on protecting natural resources and addressing pollution control needs [3]. - The company's core mission remains to be the safest, most cost-effective, and most profitable provider of activated carbon solutions, continuing to serve as an innovative and trusted partner for customers [3]. Group 3: Company Overview - Arq is a diversified environmental technology company that produces activated carbon products aimed at reducing environmental impact and enabling a cleaner planet [4]. - As the only vertically integrated producer of activated carbon products in North America, Arq provides a reliable domestic supply of high-demand products designed to remove harmful chemicals and pollutants from water, land, and air [4].

Core Viewpoint - Advanced Emissions Solutions, Inc. has signed a contract with Wieland Davco Corporation for the construction of a Granular Activated Carbon facility at its Red River plant in Coushatta, LA, with construction mobilization already underway and expected completion by Q4 2024 [1][2] Company Developments - The total construction and equipment costs for the Red River facility are estimated to be between $45-50 million, reflecting a 20% increase from previous estimates due to inflation and timing issues [2] - The company is confident that the increased costs will be managed through existing capital, anticipated cash flow in 2024, and cost reductions in other areas [2] - Major construction at the Corbin facility in Kentucky, which will supply feedstock for the Red River plant, is on track for timely completion and within budget, with commissioning activities set to begin in March 2024 [3] Market Outlook - The CEO of ADES expressed optimism about entering a materially undersupplied GAC market in North America, anticipating valuable sales contracts ahead of the facility's completion [3] - The company plans to produce 25 million pounds of GAC as part of its expansion efforts [3] Strategic Partnerships - The partnership with Wieland is highlighted as a key element in the successful execution of the construction project, with both companies committed to delivering the project safely, on time, and within budget [3]

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 ...

GREENWOOD VILLAGE, Colo., Jan. 15, 2024 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (NASDAQ:ADES) (the "Company" or "ADES"), an environmental technology company producing activated carbon and other unique carbon solutions for use in water, air and soil purification, and other sustainable materials, today announced that it will attend the Virtual Sidoti Micro-Cap Conference on Wednesday, January 17, 2024 and Thursday, January 18, 2024. The Company's Chief Executive Officer, Bob Rasmus, VP of Finan ...

Financial Data and Key Metrics Changes - Third quarter revenue totaled $21.8 million, down from $28.4 million in Q3 2022, primarily due to lower sales volumes from power generation customers, partially offset by higher average selling prices for consumable products [22] - Year-to-date revenues were $71.1 million compared to $79.6 million in the prior year, reflecting a decline due to lower sales volumes [22] - Gross margin improved to 30.6% in Q3 2023 from 24.1% in Q3 2022, driven by higher average selling prices and better input cost management [8][23] - Positive EBITDA was achieved for the third quarter after four consecutive quarters of negative EBITDA [9] - Net loss for Q3 was $2.2 million or $0.06 per diluted share, an improvement from a net loss of $2.4 million or $0.13 per diluted share in the prior year [25] Business Line Data and Key Metrics Changes - The consumables product line saw a 5% revenue growth compared to the prior year, despite overall revenue decline [9] - Average selling price (ASP) increased by approximately 16% year-to-date compared to 2022 [8] Market Data and Key Metrics Changes - Demand from power generation customers remains volatile, but recent increases in natural gas prices are expected to support demand levels [10] - Stable demand is observed in industrial and water markets, although these markets are smaller compared to power generation [10] Company Strategy and Development Direction - The company is focused on transitioning to become a producer of granular activated carbon, with ongoing expansion plans at Red River and Corbin [7][11] - The first phase of expansion at Red River is expected to result in a nameplate capacity of about 25 million pounds of annual granular activated carbon production [11] - The company is evaluating the practicality and costs associated with accelerating certain aspects of the business plan, with potential for additional phases of expansion [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding regulatory developments, particularly the anticipated EPA regulations on PFAS, which could expand demand for the company's products [18][19] - The company is confident in its ability to meet or beat the current timeline for expansion projects and is actively engaging with customers to secure contracts before production begins [29] Other Important Information - The company revised its capital expenditure expectations for 2023 to between $35 million and $40 million, down from previous estimates [12][27] - Cash balances as of September 30 totaled $61.3 million, a decrease from $76.4 million at the end of 2022, while total debt increased to $21.2 million [26] Q&A Session Summary Question: Can you break down the improvement in gross margins? - Management indicated that the improvement in gross margin was primarily due to the elimination of negative margin contracts and better cost management [34] Question: When will there be clarity on the potential to accelerate expansion plans at Red River? - Management hopes to have clarity by the next quarterly call, but expects it sooner, emphasizing the importance of customer receptivity in evaluating acceleration [36]

Financial Performance - For the three months ended September 30, 2023, the company recognized a net loss of $2.2 million, compared to a net loss of $2.4 million for the same period in 2022, reflecting a decrease in demand for its products due to lower natural gas prices [108]. - Total revenues for the three months ended September 30, 2023, were $29.8 million, a 5% increase from $28.4 million in the same period of 2022, driven by higher pricing and a favorable product mix [110]. - For the nine months ended September 30, 2023, total revenues decreased by 11% to $71.1 million from $79.6 million in the same period of 2022, primarily due to a decrease in volumes sold [124]. - The company reported a pretax loss of $15.6 million for the nine months ended September 30, 2023, compared to a pretax loss of $5.8 million in the same period of 2022 [137]. Operating Expenses - Operating expenses for the three months ended September 30, 2023, totaled $11.6 million, a 23% increase from $9.5 million in the same period of 2022, primarily due to higher payroll and benefits expenses related to the Arq Acquisition [118]. - Operating expenses increased by 36% to $34.3 million for the nine months ended September 30, 2023, compared to $25.3 million in the same period of 2022 [126]. - Payroll and benefits expenses rose by 67% to $12.5 million, largely due to the addition of Arq employees and severance costs [127]. - Legal and professional fees increased by 9% to $8.1 million, primarily due to costs associated with the Arq Acquisition [128]. - General and administrative expenses increased by 62% to $9.2 million, driven by expenses incurred by Arq and increases in research and development [129]. - Depreciation and amortization expenses increased by 53% to $7.3 million, mainly due to the addition of long-lived and intangible assets from the Arq Acquisition [130]. Cash Flow and Capital Expenditures - As of September 30, 2023, cash and restricted cash decreased from $76.4 million to $61.3 million, a decline of $15.1 million [144]. - Cash flows used in operating activities increased by $21.5 million, primarily due to a net loss of $15.5 million for the nine months ended September 30, 2023, compared to a net loss of $5.8 million in the prior year [145]. - Cash flows used in investing activities increased by $15.3 million, mainly due to a $10.8 million increase in property, plant, and equipment additions from the Arq Acquisition [146]. - Cash flows provided by financing activities increased by $24.7 million, driven by net borrowings of $8.5 million from the Term Loan and net proceeds of $15.2 million from the PIPE Investment [147]. - The company expects to incur between $35.0 million and $40.0 million in capital expenditures for 2023, with $17.0 million already incurred in the first nine months [149]. - The company anticipates significant capital expenditures due to the Arq Acquisition, including quarterly interest payments on the Term Loan and a balloon payment of approximately $12.2 million due on February 1, 2027 [148]. - The company expects to fund all capital expenditures for 2023 from cash on hand [149]. Acquisitions and Debt - The company completed the Arq Acquisition on February 1, 2023, issuing shares valued at $31.2 million as purchase consideration [103]. - The company entered into a Term Loan agreement for $10.0 million on February 1, 2023, with a maturity date of February 1, 2027, and an interest rate margin of 9.00% paid in cash [104]. - Interest expense for the three months ended September 30, 2023, increased primarily due to $0.5 million related to the Term Loan and $0.1 million related to the Arq Loan assumed in the acquisition [121]. - Interest expense surged by 732% to $2.2 million, primarily due to new debt related to the Arq Acquisition [135]. Market Conditions and Future Outlook - The average natural gas spot prices for the three months ended September 30, 2023, were $2.59 per MMBtu, significantly lower than $7.99 per MMBtu in the same quarter of 2022, impacting demand for coal-fired generation [111]. - Consumables revenues decreased by $16.7 million due to lower product volumes among power generation customers, attributed to low natural gas prices [125]. - The company expects that product price increases will help offset decreases in volumes due to competition from alternative energy sources impacting demand for its AC and chemical products [112]. - Forward-looking statements indicate potential risks including competition in the activated carbon market and the ability to successfully integrate Arq's business [154]. - The company is evaluating the impacts of the Arq Acquisition on its internal control over financial reporting [157].

Advanced Emissions Solutions, Inc. (NASDAQ:ADES) Q2 2023 Earnings Conference Call August 10, 2023 9:00 AM ET Company Participants Ryan Coleman - Alpha IR Group Robert Rasmus - President and Chief Executive Officer Morgan Fields - Chief Accounting Officer Conference Call Participants Gerard Sweeney - ROTH Capital Partners Operator Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today. At this time, I would like to welcome everyone to the Advanced Emis ...

Advanced Emissions Solutions, Inc. Q2 2023 Earnings Call August 10, 2023 Nasdaq: ADES Disclaimer This presentation includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a “safe harbor” for such statements in certain circumstances. When used in this presentation, the words “can,” “will,” “intends,” “expects,” “believes,” similar expressions and any other statements that are not historical facts are intended to identify those assertions as ...

United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37822 ______________________________________ Advanced Emissions Solut ...

Advanced Emissions Solutions, Inc. Q1 2023 Earnings Call May 10, 2023 Nasdaq: ADES Disclaimer Thispresentationincludesforward-lookingstatementswithinthemeaningofSection21EoftheSecuritiesExchangeActof1934,whichprovidesa“safeharbor”forsuchstatementsincertaincircumstances. Whenusedinthispresentation,thewords“can,”“will,”“intends,”“expects,”“believes,”similarexpressionsandanyotherstatementsthatarenothistoricalfactsareintendedtoidentifythoseassertionsas forward-lookingstatements.Allstatementsthataddressactivitie ...