Arq shares declined as the company works to finalize the design and capital requirements for its granular activated carbon (GAC) business. GAC is a primary technology used to remove PFAS contaminants from drinking water, but Arq is currently revising its scale-up plan. While the company remains profitable in powdered activated carbon, the market is focused on whether Arq can deploy GAC without excessive cash spend. The company expects to release a detailed production and cost schedule in the third quarter of 2026.
