Aries' Lead Investor Purchases Series 2019 and Series 2021 Bonds Strengthening Foundation for Linden Facility Redevelopment

Transaction aligns investors, and positions project for the next phase

FRANKLIN, Tenn., April 9, 2026 /PRNewswire/ -- Aries Clean Technologies today announced its lead investor has purchased all the outstanding Aries Linden Series 2019 and Series 2021 Bonds from the previous holders. Subsequent to the completion of such purchase Aries Linden resumed payments to the holders of the Series 2023 and the Series 2024 Bonds sufficient to satisfy all of its current interest payment obligations to the holders of such Bonds.  With the transaction completed Aries has started reengineering work with the goal of restarting the facility.

"This outcome reflects a shared commitment to doing what's right for the long-term success of our Linden facility," said Jon Cozens, Chief Executive Officer of Aries Clean Technologies. "We are now positioned to focus on Linden's redevelopment with the benefit of everything we've learned operating the facility over the past several years."

Linden was originally developed as the first commercial scale biosolids gasification facility, designed to demonstrate Aries' innovative technology at full scale. The facility operated periodically for several years, successfully validating the core gasification system and generating valuable operational and engineering data, including PFAS destruction at 97%. As with many first-of-a-kind infrastructure projects, this experience provided important insights into gasification system performance and long-term reliability.

The facility was intentionally idled to develop and implement engineering and equipment upgrades, and Aries' redevelopment plans incorporate these learnings through next-generation design improvements aimed at supporting more efficient, reliable operations moving forward.

"This is a very positive step forward for Aries. Managing biosolids safely and renewably is quickly becoming a priority for policymakers across the country, and the Linden, NJ facility couldn't be in a better location in terms of volume and critical need. We very much look forward to the restarting operations as soon as possible." – said Aries's lead investor, Nikhil Garg, Partner, from Spring Lane Capital

The company is applying these operational insights and engineering improvements to future development, including its project in Sanford, Maine. "This is about moving forward with a stronger foundation," added Cozens. "We remain focused on delivering long-term solutions that benefit the communities we serve."

Media Contact:  
Shyla Lindner
Aries Clean Technologies
Director of Marketing & Communications
775-636-2837
[email protected] 

About Aries Clean Technologies

Aries Clean Technologies designs, builds, owns, and operates sustainable infrastructure that recycles biosolids for beneficial use while recovering energy and eliminating harmful contaminants such as Per- and polyfluoroalkyl substances (PFAS). Its patented gasification technology delivers measurable environmental benefits by reducing greenhouse gas emissions, minimizing landfill reliance, and transforming waste into valuable resources. Learn more at www.ariescleantech.com

SOURCE Aries Clean Technologies