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 Reports Q4 Revenue of $29.43M, Beating Consensus

Reports Q4 revenue $29.43M, consensus $28.59M. "Today's results reflect Arq's ongoing evolution and a fundamental reset in our approach," said CEO Bob Rasmus. "We believe the decision to pause development of our GAC line is in the best interests of shareholders. While the transition from Corbin-derived feedstock to purchased coal resolves a major operational challenge due to design flaws that constrained our GAC production process, the subsequent testing we have conducted this year has revealed yet another challenge stemming from original design flaws. While I remain confident in our ability to navigate these operational setbacks, we must be certain of the ultimate cost to reach a nameplate capacity that delivers acceptable returns before spending further capital on the project. After evaluating our options, we have therefore concluded that the most prudent path forward is to pause and ensure we are building a plant of optimized scale and attractive economics. GAC market fundamentals remain strong, and our customer relationships remain robust, validating both the market opportunity and our strategic approach."