Bedell Cristin advises Arq on combination with ADES
03 February 2023
Bedell Cristin has represented longstanding client Arq Limited on its combination with Nasdaq listed Advanced Emissions Solutions, Inc. (ADES), a leader in emissions control solutions for coal-fired power generation, industrial and municipal water purification markets.
Arq is a Jersey incorporated environmental technology company founded in 2015 that has developed a novel process for producing specialty carbon products from coal mining waste. Arq has the technology and large-scale manufacturing facilities to produce a micro-fine hydrocarbon powder, Arq powder™, that can be used as a feedstock to produce activated carbon.
On closing of the deal, ADES issued a combination of shares of common stock and shares of a newly created series of preferred stock in exchange for all of the equity interests in all of the subsidiaries of Arq.
The combined business, through the use of two base feedstocks, will be able to pursue end markets served by both Powder and Granular Activated Carbon products and will be the only completely vertically integrated North American activated carbon provider from feedstock to distribution.
Bedell Cristin's team, which supported Arq on all Jersey law aspects of the deal, was led by corporate partner Guy Westmacott, with assistance from fellow partners Alasdair Hunter and Edward Drummond, senior associates Malcolm Ellis and Natasha Bairstow and associates Alex Baker and Gilbert Kato.