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Charah Solutions, Inc., based in Louisville, Kentucky, stands as a prominent provider of environmental and maintenance services tailored for the power generation industry. With operations spanning coal-fired and nuclear power generation sites nationwide, Charah Solutions boasts over 35 years of experience in tackling the industry's most complex environmental challenges.
As an industry leader in quality, safety, and compliance, Charah Solutions is committed to sustainability and reducing greenhouse gas emissions, striving for a cleaner energy future. The Company offers a comprehensive suite of services that include managing and recycling ash byproducts produced from coal combustion, ash pond management and closure, landfill construction, structural fill projects, power plant remediation, and site redevelopment.
Recently, Charah Solutions has expanded its portfolio through the acquisition by funds managed by SER Capital Partners. This strategic move aligns with both companies' commitment to sustainable investments and innovative environmental solutions. The acquisition, completed on July 13, 2023, positions Charah Solutions for a new chapter of growth and success, supported by SER's extensive utility industry experience and strategic resources.
Under the leadership of President and CEO Jonathan Batarseh, Charah Solutions continues to build on its reputation as the partner of choice for solving environmental challenges. The Company’s dedicated team of nearly 600 employees works tirelessly to serve its many customers, ensuring sustainable management and recycling practices.
In addition to environmental services, Charah Solutions remains financially robust, adhering to the terms of its 8.50% Senior Notes due August 31, 2026, and maintaining a solid financial foundation under the guidance of newly appointed CFO Tony Tomljanovic, effective June 3, 2024. With over 30 years of financial expertise, Tomljanovic is expected to steer the company towards optimized operational efficiency and sustainable growth.
With a steadfast commitment to innovation and sustainability, Charah Solutions is poised to continue delivering advanced environmental solutions, contributing to a sustainable future for the power generation industry and beyond.
Charah Solutions has appointed Tony Tomljanovic as Chief Financial Officer (CFO) and Treasurer, effective June 3, 2024. Tomljanovic brings over 30 years of financial experience in the engineering and construction sectors, both domestically and internationally. In his new role, he will oversee financial planning and analysis, financial reporting, tax, treasury, risk management, and information technology for Charah Solutions. According to Matthew Sutton, CEO of Charah Solutions, Tomljanovic's extensive C-level experience will be pivotal in shaping financial strategies, optimizing operational efficiency, and driving sustainable growth. Tomljanovic's educational background includes a bachelor's degree from Lafayette College and Executive Leadership training at Rice University. He has previously held CFO roles at FST Technical Solutions, Infrastripe, and AMEC E&E/Environment & Infrastructure, among other senior financial positions.
Charah Solutions, Inc. (OTC PINK:CHRA) announced a definitive agreement to be acquired by SER Capital Partners at $6.00 per share, representing a 134% premium over its recent average share price. The acquisition will involve the redemption of all Series A and Series B preferred stock and is subject to stockholder approval, with a targeted completion in Q3 2023. Charah's leadership expressed optimism about the partnership, emphasizing the potential for enhanced sustainability solutions and long-term employee growth. SER Capital, a firm focused on sustainable investments, recognizes Charah's environmental capabilities and aims to support its continued success.
Charah Solutions announced it has been notified by the NYSE regarding proceedings to delist its common stock and 8.5% Senior Notes due 2026 due to not meeting the $15 million, 30-day average market capitalization standard. As a result, effective April 4, 2023, these securities will trade on the OTC Pink marketplace under the symbols CHRA and CHRB. The transition is not expected to impact business operations. Charah Solutions specializes in environmental services and byproduct recycling for the power generation industry and is dedicated to sustainability and compliance.
Charah Solutions (NYSE:CHRA) received a notification from the NYSE regarding its noncompliance with listing standards due to a total market capitalization and stockholders' equity below $50 million over 30 trading days. The Company has 45 days to submit a business plan to regain compliance within 18 months. This notification does not impact operations or SEC reporting. Additionally, following a previous warning, Charah executed a 1-for-10 reverse stock split on December 29, 2022, to address share price standards.
Charah Solutions (NYSE:CHRA) received a notification from the New York Stock Exchange indicating its average stock price fell below $1.00 over 30 trading days. The company plans to respond within ten business days and has a six-month period to regain compliance. Despite this, business operations remain unaffected. Charah Solutions recently executed a 1-for-10 reverse stock split to help restore its stock price and will continue trading under the symbol CHRA.
Charah Solutions (NYSE:CHRA) announced a 1-for-10 reverse stock split, effective at 5:00 p.m. ET on December 29, 2022. Authorized by the Board and approved by stockholders, the split aims to increase the stock's market price and ensure compliance with NYSE listing standards. The number of outstanding shares will decrease from approximately 33.7 million to about 3.37 million. Stockholders in 'street name' will have their shares automatically adjusted, while those holding shares directly will receive information about their adjusted holdings.
Charah Solutions, Inc. (NYSE:CHRA) reported Q3 2022 results, revealing a revenue of $81.5 million, down from $84.2 million in Q3 2021. Gross profit decreased to $2.9 million, impacted by supply chain issues, compared to $9.4 million a year prior. The company announced leadership changes, with Jonathan Batarseh as new CEO, and completed a $30 million Series B Preferred Stock sale to bolster liquidity. A one-for-ten reverse stock split was approved, aimed at increasing stock price. Despite challenges, $42 million in new contracts were secured from mid-August to mid-November.
Charah Solutions, Inc. (NYSE:CHRA) will release its third-quarter 2022 financial results on November 14, 2022, after market close. A conference call to discuss these results is scheduled for November 15, 2022, at 8:30 a.m. ET. Participants can register for the call via a provided link, and a recording will be available on the company’s website after the event. Charah Solutions specializes in environmental services and byproduct recycling for the power generation industry, aiming to reduce greenhouse gas emissions.
Charah Solutions (CHRA) has secured a pond closure contract from a long-term utility partner in Ohio, involving the removal of two ponds as part of its Remediation & Compliance Services. This project entails excavating approximately 40,000 cubic yards of coal combustion residuals (CCR) and stabilizing the site by replacing clay for future water management. The work is expected to conclude by the end of 2022. Charah Solutions emphasizes its extensive expertise in managing complex environmental challenges while supporting sustainability efforts.
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