Charah Solutions Awarded 5-Year Fly Ash Sales and Marketing Contract for Beneficial Use of Production Fly Ash at Gavin Power Plant in Ohio
Charah Solutions (NYSE:CHRA) has secured a five-year contract for the recycling and sale of fly ash from the Gen. James M. Gavin Power Plant in Ohio. This contract involves the recycling of 35,000 to 60,000 tons of Class F fly ash annually, addressing the growing demand in the ready-mix concrete market. The fly ash will be distributed via Charah's MultiSource network, promoting sustainability by reducing landfill waste and CO2 emissions. In 2020, Charah recycled 2.58 million tons of coal combustion residuals, saving 2.24 million tons of CO2.
- Secured a five-year contract for recycling and selling fly ash from Gavin Power Plant.
- Expected to recycle 35,000 - 60,000 tons of fly ash annually, enhancing revenue potential.
- Supports sustainable practices by reducing landfill waste and CO2 emissions.
- None.
Fly Ash Will be Recycled and Sold for Beneficial Use in the Ready Mix Concrete Market
LOUISVILLE, KY / ACCESSWIRE / September 9, 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 for the beneficial recycling of fly ash from the Gavin Power Plant in Cheshire, Ohio. The Gen. James M. Gavin Power Plant, a 2,665-megawatt coal-fired power station with two operating units, is the largest coal-fired power facility in Ohio.
As part of this agreement, Charah Solutions will be responsible for the sales and environmentally-friendly recycling of approximately 35,000 - 60,000 tons of specification grade Class F fly ash per year from this facility through 2025. The fly ash will be shipped to regional markets to supply the growing demand in the ready-mix concrete market as a replacement for Portland cement in the production of ready mix concrete and concrete products.
The production fly ash will be distributed by truck and rail through Charah Solutions' MultiSource® materials network, a unique distribution system of more than 40 nationwide locations, with international sourcing and distribution. MultiSource provides a continuous and reliable supply of supplementary cementitious materials (SCMs) for cement and concrete producers as well as other customers who beneficially reuse the products.
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 states of concrete. In addition to improving the finished concrete product quality, using 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. 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.
"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," said Scott Sewell, Charah Solutions President and CEO. "We currently work at Gavin assisting with landfill operations, and we are delighted to pick up this new contract to manage their fly ash marketing 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 https://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.
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.
###
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.
View source version on accesswire.com:
https://www.accesswire.com/663200/Charah-Solutions-Awarded-5-Year-Fly-Ash-Sales-and-Marketing-Contract-for-Beneficial-Use-of-Production-Fly-Ash-at-Gavin-Power-Plant-in-Ohio
FAQ
What contract did Charah Solutions announce on September 9, 2021?
How much fly ash will Charah recycle annually under the new contract?
What is the significance of fly ash in the ready-mix concrete market?
How does the contract benefit the environment?
What was the CO<sub>2</sub> reduction achieved by Charah in 2020?
