Charah Solutions Awarded 5-Year Fly Ash, Bottom Ash and Boiler Slag Sales and Marketing Contract from Associated Electric Cooperative to Run Through 2026
Charah Solutions (NYSE:CHRA) has announced a five-year contract with Associated Electric Cooperative Inc. for the sustainable recycling of approximately 150,000 tons of fly ash, bottom ash, and boiler slag annually from the Thomas Hill Energy Center. This partnership aims to provide high-quality materials for the concrete industry, enhancing sustainability and reducing carbon footprint. The byproducts will be distributed through Charah's MultiSource materials network, primarily within a 200-mile radius of the plant, running through 2026.
- Awarded a five-year contract for recycling 150,000 tons of byproducts annually.
- Partnership with AECI enhances revenue potential and sustainability efforts.
- Utilization of byproducts supports eco-friendly construction practices.
- Strengthened supply chain through Charah's MultiSource materials network.
- None.
Approximately 150,000 Tons of Byproducts Per Year Will be Recycled and Sold for Beneficial Use into the Ready-Mix Concrete and Aggregate Industries
LOUISVILLE, KY / ACCESSWIRE / November 4, 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 announced that it has been awarded a five-year sales and marketing contract from Associated Electric Cooperative Inc. (AECI), a power generation and transmission cooperative operating in three Midwest states, for the sustainable recycling of fly ash, bottom ash and boiler slag from AECI's Thomas Hill Energy Center. AECI is owned by and provides wholesale power to six regional and 51 local electric cooperative systems in Missouri, southeast Iowa and northeast Oklahoma that serve 935,000 members. The Thomas Hill Energy Center is a 1,153-megawatt coal-fired power station located in near Clifton Hill, Missouri.
Charah Solutions will be responsible for the beneficiation and utilization of approximately 150,000 tons per year of specification grade Class C fly ash, non-spec Class C fly ash, bottom ash and boiler slag through 2026. The byproducts will be distributed through Charah Solutions' MultiSource® materials network, a unique distribution system of nearly 40 nationwide locations, with international sourcing and distribution, which provides a continuous and reliable supply of supplementary cementitious materials (SCMs) to cement and concrete producers as well as other customers who beneficially reuse the products. It is anticipated that a majority of the ash will be shipped via truck within a 200-mile radius of the plant's location with remaining product sold into encapsulated beneficial use applications in the greater Kansas City and St. Louis metropolitan regions.
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 through ash marketing projects. Sustainability is a core value at Charah Solutions and our business is focused on developing innovative solutions to complex environmental issues for the betterment of the planet, the communities in which we operate and our customers. The beneficial 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 green 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.
"Charah Solutions is nationally recognized in the power generation industry as a total solutions company, providing unparalleled service and innovation in a sustainable manner to meet the evolving and increasingly complex needs of our utility partners," said Scott Sewell, Charah Solutions President and CEO. "We are delighted to partner with AECI to manage their ash marketing needs at Thomas Hill while supplying our concrete producers with the high-quality material they need."
Click here to see a complete map of Charah Solutions' MultiSource materials network locations.
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 www.charah.com/ or download our 2020 Environmental, Social and Governance (ESG) Report at www.charah.com/sustainability.
MultiSource is a trademark of Charah, LLC. in the United States.
About Associated Electric Cooperative Inc.
Associated Electric Cooperative Inc. is owned by and provides wholesale power to six regional and 51 local electric cooperative systems in Missouri, southeast Iowa and northeast Oklahoma that serve 935,000 members. Associated's mission is to provide an economical and reliable power supply and support services to its members. Associated is a Touchstone Energy Cooperative. For more information, visit www.aeci.org.
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
Media Contact
Tamara Davis
PriceWeber Marketing
(270) 202-8516
SOURCE: Charah Solutions, Inc.
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