Alkegen, a specialty materials manufacturer, has entered into a Restructuring Support Agreement to eliminate approximately $3.1 billion of debt. The agreement has backing from 99% of first lien holders and a majority of second lien holders. The company has secured $315 million in new capital to support operations during restructuring. Upon completion, Alkegen expects to emerge with a stronger balance sheet and approximately $200 million in available liquidity. The restructuring will be implemented through a prepackaged chapter 11 process, expected to be filed in the United States Bankruptcy Court for the Northern District of Texas. Operations will continue as usual with no anticipated disruption for customers, suppliers, or partners. Alkegen plans approximately $70 million in capital improvements for 2026, with an additional $300 million anticipated through 2030.

Earlier this month, Alkegen announced the full commercial launch of AlkeGel(TM), a breakthrough fiber-enhanced aerogel insulation engineered to deliver superior thermal efficiency, low-dust installation and game-changing CUI prevention.