Arq CEO Julian McIntyre announced last week that his company would invest in a new $40 million St. Rose facility that will produce a proprietary fuel product, says KADN News. Once in operation, the site will receive an intermediate wet-cake material from discarded mined materials and transform it into a cleaner blending component for oil products – called Arq Fuel – that will be used in the marine and power-generation industries.
Arq plans to invest up to $40 million at the St. Rose site owned by International-Matex Tank Terminals, and will create 12 new direct jobs with an average annual salary of $52,000, plus benefits. Louisiana Economic Development estimates the project will result in 31 new indirect jobs, for a total of 43 new jobs in Louisiana’s Southeast Region.
“The innovative processes Arq will deploy in Louisiana show that we can build on our state’s legacy as an energy leader by developing new energy solutions for the future,” says Gov. John Bel Edwards.
Based in London with U.S. headquarters in Kentucky, Arq is an energy technology company that recycles mining waste into its proprietary fuel. The fuel’s lower greenhouse-gas profile will help industries meet evolving regulatory demands. See KADN News for more.