News & Events zu Arq, Inc. (ARQ)ARQArq, Inc.

Arq Appoints Peter Owino as Chief Accounting Officer

Arq announced the appointment of Peter Owino as Chief Accounting Officer, effective September 1, 2026. Owino, who has been serving as the Company's interim Chief Accounting Officer pursuant to a consulting agreement since June 12, 2026, has over twenty years of experience in accounting, finance, and Sarbanes-Oxley (SOX) compliance, in both private and public company settings. Prior to his appointment as the Company's Chief Accounting Officer, Mr. Owino was an accounting and finance consultant for Princeton Business Consulting, LLC ("Princeton Business Consulting"), a consulting firm focused on small to mid-sized businesses. Mr. Owino has served in various finance and accounting leadership roles, including as the Corporate Controller of Colliers Engineering & Design, a multidisciplinary engineering firm, from 2024 to 2026, and as the Chief Accounting Officer of Merchant e-Solutions, a merchant acquiring company and global payment processor from 2020 to 2022, where he successfully helped prepare the company for sale to a New York based private equity firm. From 2015 to 2020, Mr. Owino worked as a Director for KPMG New York, providing accounting advisory services. Before that, Mr. Owino was a Senior Director at Finjan Holdings, Inc. and also spent years working as a manager at both Deloitte & Touche and Ernst & Young. Mr. Owino holds a Bachelor of Commerce degree in accounting from Kenyatta University in Nairobi, Kenya. Mr. Owino is also a licensed certified public accountant.

Arq Appoints Shimon Steinmetz as CFO

Arq announced the appointment of Shimon Steinmetz as executive VP and CFO. Steinmetz brings more than two decades of experience, including prior CFO roles at Finjan Holdings and Vesta. Additionally, the company announced that Stacia Hansen has resigned from her role as chief accounting officer, or CAO, effective as of June 12. The company said Hansen's resignation was not the result of any disagreement with the company, its management, or any member of the board of directors on any matter relating to the company's operations, policies, practices, or financial reporting.

Arq Pauses GAC Production, No Output Expected in FY 2026

Arq announced its decision to pause GAC production to conduct a comprehensive engineering and production process optimization review of the path forward for the Company's GAC business. As a result, the company does not expect any GAC production in fiscal year 2026. This decision follows independent testing results received in late January 2026 showing the company's current thermal oxidizer can only support approximately 15M pounds of annual GAC production and would require additional modifications to achieve our original target of 25M pounds of annual GAC production or higher. The company's analysis indicates that a 15M pound scenario does not deliver acceptable returns and volumes above that amount are required to generate attractive economic returns. The optimization review will determine production scale, capital requirements, and return profiles, all of which need to be finalized before the company will commit additional investment. These constraints emerged as the company prepared to transition from its Corbin Wetcake feedstock to bituminous proven performance coal feedstock from other sources, a solution which is expected to address previously announced design challenges. The thermal oxidizer issues and their impact on capacity stem from design flaws by the company's original engineering consultant, with whom Arq remains in litigation. As a result of the decision to transition away from using Corbin Wetcake for its GAC products, the company is temporarily idling its Corbin facility and in connection recorded a non-cash impairment charge of $45M in Q4 2025. Alternative applications for Corbin Wetcake, including asphalt emulsion blending, continue to advance.