An energy technology company is investing $40 million to develop an industrial facility in St. Rose that will recycle mining waste into a proprietary fuel product.
The project Arq, a London-based company with U.S. headquarters in Kentucky, will include a thermal drying facility; blending and product-handling equipment; transportation infrastructure; and storage tanks. It will be built on a 5-acre site owned by International-Matex Tank Terminals, or IMTT, in St. Charles Parish.
Arq will create 12 jobs with an average annual salary of $52,000, plus benefits, the Louisiana Economic Development department said, and result in 31 new indirect jobs.
The site will receive an intermediate wet-cake material produced from discarded mined materials, and will transform it into a cleaner and valuable blending component for oil products entering the power-generation and marine industries.
The facility will receive intermediate product from its site in Corbin, Kentucky, for final drying, blending and shipment to customers. Primary use of the product will be for residual fuel oil in the utility market and bunker fuel for commercial ships and barges.
Arq’s process creates a nearly pure hydrocarbon product and does not require the extraction of any new natural resources from the earth, officials said. The fuel’s lower greenhouse-gas profile will help industries meet evolving regulatory demands.
The company is expected to use the state’s Quality Jobs and Industrial Tax Exemption programs.
Arq CEO Julian McIntyre announced the project Friday with Gov. John Bel Edwards.
“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," Edwards said.
“Arq’s St. Rose facility is an important investment and milestone in our company’s ambitions to make a transformative impact in the energy industry,” McIntyre said. “The Arq Fuel we produce at St. Rose and blend into liquid fuels is responsibly sourced transition fuel, which is providing a lower-cost bridge to a cleaner future."