Strong PAC Business Performance
The PAC business delivered strong financial results, with a 7% increase in average selling prices over the prior year and a 43% reduction in SG&A expenses. The company generated $16.7 million of adjusted EBITDA on a trailing 12-month basis, marking a $25 million improvement from a negative $8.7 million two years ago.
First Commercial Production and Sales of GAC
Achieved first commercial production and sales of granular activated carbon (GAC), although at well below capacity. There is strong market demand with numerous spot purchase requests at prices above existing contracts.
Potential Alternative Revenue Streams
Exploring alternative uses for Corbin feedstock, such as asphalt, purified coal, rare earth materials, and synthetic graphite, which could provide diversification and additional revenue opportunities.