Charah Solutions Applauds Passage of New Infrastructure Bill

Rhea-AI Summary

Charah Solutions, Inc. (NYSE:CHRA) commends the Infrastructure Investment and Jobs Act signed by President Biden, promoting the use of recycled fly ash in Green Concrete, a more sustainable alternative to Portland cement. This initiative addresses the U.S. infrastructure needs while reducing landfill waste and CO₂ emissions. Charah Solutions emphasizes its commitment to environmental sustainability, having recycled 2.58 million tons of coal combustion residuals in 2020. The legislation allocates $110 billion for infrastructure repairs, marking a significant investment in America's roads and bridges.

Positive

• Increased demand for recycled fly ash due to the Infrastructure Investment and Jobs Act.
• Charah recycled 2.58 million tons of coal combustion residuals in 2020, saving over 2.24 million tons of CO₂ emissions.
• The Act reinforces the company's commitment to environmental sustainability and positions it favorably in the construction material market.

Negative

• None.

Recycled Fly Ash To Provide Environmentally-Conscious Substitute for Portland Cement in the Production of Green Concrete

LOUISVILLE, KY / ACCESSWIRE / November 15, 2021 / Charah^® Solutions, Inc. (NYSE:CHRA) (the "Company"), a leading provider of mission-critical environmental services and byproduct sales to the power generation industry, today applauds the passage of the Infrastructure Investment and Jobs Act which President Biden officially signed into law earlier today. The Company specifically celebrates the increased opportunity for fly ash to be recycled and beneficially used in the production of Green Concrete to meet the growing infrastructure demand in the ready mix concrete market, providing an environmentally-conscious replacement for Portland cement in the production of ready mix concrete and concrete products.

The beneficial use of fly ash in the production of concrete is an important environmental recycling initiative to satisfy the growing infrastructure demands that utilize millions of tons of coal ash every year, thus preserving natural resources while dramatically reducing the need for landfill space. In addition to improving the finished concrete product quality, making it a better product for use in bridges, highways, and other infrastructure projects, the use of fly ash in Green Concrete products and other applications eliminates the need to dispose of fly ash in landfills and 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. Finally, the beneficial recycling of ash in concrete production replaces Portland cement, a significant contributor to CO₂ emissions, thus significantly decreases CO₂ and other greenhouse gases that would otherwise be emitted into the atmosphere.

As a sustainability leader in utility services for over 30 years, Charah Solutions is dedicated to preserving our natural resources in an environmentally-conscious manner. Sustainability is a Charah Solutions core value, and its business is focused on developing innovative solutions to complex environmental issues for the betterment of the planet, the communities in which it operates and its customers. In 2020 Charah Solutions beneficiated and recycled 2.58 million tons of coal combustion residuals (CCRs), saving more than 2.24 million tons of CO₂ from entering the atmosphere.

According to the White House's Bipartisan Infrastructure Deal Fact Sheet, in the United States, 1 in 5 miles of highways and major roads, and 45,000 bridges, are in poor condition. The legislation will reauthorize surface transportation programs for five years and invest $110 billion in additional funding to repair our roads and bridges and support major, transformational projects. The bill makes the single largest investment in repairing and reconstructing our nation's bridges since the construction of the interstate highway system, and it will rebuild the most economically significant bridges in the country as well as thousands of smaller bridges.

About Charah Solutions, Inc.

With 30 years of experience, Charah Solutions, Inc. is a leading provider of environmental services and byproduct sales to the power generation industry. Based in Louisville, Kentucky, Charah Solutions assists utilities and independent power producers with all aspects to sustainably manage and recycle ash byproducts generated from the combustion of coal in the production of electricity. The Company also designs and implements solutions for ash pond management and closure, landfill construction, fly ash 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 https://charah.com/ or download our 2020 Environmental, Social and Governance (ESG) Report at www.charah.com/sustainability.

Forward-Looking Statements

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. See the Company's Form 10-K for the fiscal year ended December 31, 2020 and other periodic reports as filed with the Securities and Exchange Commission for further information regarding risk factors.

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.

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Investor Contact
Roger Shannon
Charah Solutions
(502) 245-1353
ir@charah.com

Media Contact
Tamara Davis
PriceWeber Marketing
(270) 202-8516
media@charah.com

SOURCE: Charah Solutions, Inc.

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https://www.accesswire.com/672901/Charah-Solutions-Applauds-Passage-of-New-Infrastructure-Bill

FAQ

What does the Infrastructure Investment and Jobs Act mean for Charah Solutions (CHRA)?

The Act increases opportunities for Charah Solutions to utilize recycled fly ash in Green Concrete, addressing infrastructure demands.

How much coal combustion residuals did Charah Solutions recycle in 2020?

Charah Solutions recycled 2.58 million tons of coal combustion residuals in 2020.

What is the environmental impact of using fly ash in concrete?

Using fly ash reduces landfill waste and CO₂ emissions compared to traditional Portland cement.

How much funding does the Infrastructure Investment and Jobs Act allocate for infrastructure repairs?

The Act allocates $110 billion for infrastructure repairs, including roads and bridges.

What is the significance of fly ash in sustainable construction?

Fly ash provides an environmentally-friendly alternative to traditional cement, improving concrete quality and reducing greenhouse gas emissions.