Charah® Solutions, Inc. (NYSE: CHRA) (the "Company"), a leading provider of environmental and maintenance services to the power generation industry, today (9/10) announced that it recently was awarded a contract extension to provide byproduct sales and material handling operations for Luminant's Miami Fort Power Plant and Zimmer Power Plant in southern Ohio.
As part of this agreement, Charah Solutions will continue to manage and market coal combustion products (CCPs) produced by these two Ohio facilities. Charah Solutions currently has the right to sell and market 100% of the high quality, specification grade Class F fly ash from the two power plants for beneficial use via the Company's MultiSource® materials network. By shipping via truck, rail and barge, the Company is able to market the fly ash from both facilities to concrete product manufacturers and ready mix concrete producers throughout Ohio, Kentucky, Indiana, Pennsylvania, New Jersey, New York, Connecticut, North Carolina, Florida, Mississippi, Louisiana and Oklahoma, providing customers with multiple supply options of high quality fly ash. The MultiSource materials network is a unique distribution system of more than 40 locations nationwide, with international sourcing and distribution, which improves the Company's ability to provide a continuous and reliable supply of supplementary cementitious materials for ready mix concrete producers and other customers throughout the U.S.
In addition, Charah Solutions will continue all other coal combustion residuals (CCR) material handling and disposal operations at both locations, including landfill management and byproduct loadout, as well as the operations and maintenance of the Plant FGD system at Miami Fort.
According to Scott Sewell, Charah Solutions President and CEO, "Charah Solutions is nationally recognized in the power generation industry as a total solutions company, providing unparalleled service and innovation to meet the evolving and increasingly complex needs of our utility partners. This is a great example of our unique ability to bundle our service offerings for utilities, providing both CCR and CCP solutions at the same time. As a result, ready mix concrete producers are now able to reliably purchase quality fly ash through the Charah Solutions MultiSource network in the Midwest, Northeast and deep South. In addition, we have dramatically reduced the need to landfill high quality fly ash at Miami Fort and Zimmer, saving Luminant both expense and valuable landfill space, while lowering their risk."
"This extended agreement will help Miami Fort and Zimmer move towards 100% beneficial re-use of our byproducts," stated Todd A. Stinson, manager of byproducts and refined coal at Luminant. "Charah Solutions' ongoing presence in the Ohio River region and broad terminal network will continue to be a major factor in achieving this goal."
The use of fly ash in concrete products offers benefits in both the hardened and plastic state of concrete. In addition to improving the finish product quality, using fly ash in concrete products and other applications not only eliminates the need to dispose of fly ash in landfills, it also significantly reduces the overall carbon footprint and conserves our natural resources by replacing materials that would otherwise have to be mined and processed for these products.
Click here to see a complete map of Charah Solutions' MultiSource materials network locations.
With 30 years of experience, Charah® Solutions, Inc. is a leading provider of environmental and maintenance services to the power generation industry, with operations in fossil fuel and nuclear power generation sites across the country. Based in Louisville, Kentucky, Charah Solutions assists utilities with all aspects of managing and recycling ash byproducts generated from the combustion of coal in the production of electricity as well as routine power plant maintenance and outage services for the fossil fuel and nuclear power generation industry. The Company also designs and implements solutions for ash pond management and closure, landfill construction, fly ash and slag sales, and structural fill projects. Charah Solutions is the partner of choice for solving customers' most complex environmental challenges, and as an industry leader in quality, safety, and compliance, the Company is committed to reducing greenhouse gas emissions for a cleaner energy future. For more information, please visit www.charah.com.
MultiSource is a trademark of Charah, LLC. in the United States.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as "may," "expect," "estimate," "project," "plan," "believe," "intend," "achievable," "anticipate," "will," "continue," "potential," "should," "could," and similar terms and phrases. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements.
Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.