09:03 AM EDT, 07/15/2024 (MT Newswires) -- Arq (ARQ) said Monday it has secured additional contracted volume for the supply of granular activated carbon from its Red River facility, bringing the total contracted demand to 13 million pounds per year, or 52% of the facility's 25 million pounds per year capacity.

Construction at Red River is on schedule for first commercial production by year-end 2024, with the project expected to cost $60 million to $70 million, in line with previous forecast, the company said. Arq said it will not share details of associated customers due to competitive reasons.

Shares of the company were up 3.3% in Monday premarket activity.

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