Charah Solutions Awarded Multi-Year Fly Ash Sales and Marketing Contract from Indiana Regulated Utility

Rhea-AI Summary

Charah Solutions (NYSE:CHRA) has secured a multi-year contract to manage the marketing and recycling of approximately 150,000 tons of fly ash annually from an Indiana utility, starting Q3 2022. The contract involves utilizing the fly ash through its MultiSource materials network, enhancing the sustainability of concrete production. This initiative supports the company's commitment to reducing landfill waste and carbon emissions, contributing to the Global Cement and Concrete Association's goal of carbon-neutral concrete by 2050.

Positive

• Secured a multi-year contract for recycling 150,000 tons of fly ash annually.
• Utilization of fly ash through an extensive MultiSource materials network enhances sustainability.
• Supports the Global Cement and Concrete Association's carbon-neutral concrete goal by 2050.

Negative

• None.

Approximately 150,000 Tons Per Year of Fly Ash in Central Indiana Will Be Beneficially Used in the Concrete Industry

LOUISVILLE, KY / ACCESSWIRE / July 7, 2022 / Charah^® Solutions, Inc. (NYSE:CHRA) ("Charah Solutions" or the "Company"), a leading provider of environmental services and byproduct recycling to the power generation industry, today announced that it has been awarded a multi-year contract from an Indiana regulated utility for the marketing and sustainable recycling of fly ash. The multi-year project will begin in Q3 2022.

Under the terms of the contract, Charah Solutions will be responsible for the utilization of approximately 150,000 tons per year of specification grade fly ash. The fly ash will be distributed through Charah Solutions' MultiSource^® materials network, a unique distribution system of nearly 40 nationwide locations, with international sourcing and distribution. The MultiSource network provides a continuous and reliable supply of supplementary cementitious materials (SCMs) to cement and concrete producers to make concrete, as well as to other customers who beneficially reuse the products. It is anticipated that 100% of the fly ash will be shipped by truck to markets in the Midwest.

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 recycling and marketing projects. Sustainability is a core value at Charah Solutions and the Company's 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. 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, but also significantly reduces overall carbon footprint and conserves natural resources by replacing materials that would otherwise have to be mined and processed for these products. This recycled fly ash will contribute to meeting Global Cement and Concrete Association (GCCA) member companies' commitment to producing carbon neutral concrete by 2050.

"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 this Indiana regulated utility to manage their ash marketing needs while supplying our concrete producers with the high-quality material they require and holding true to our environmental commitments and goals to reduce carbon footprint."

Click here to see a complete map of Charah Solutions' MultiSource materials network locations.

About Charah Solutions, Inc.

With more than 30 years of experience, Charah Solutions, Inc. is a leading provider of environmental services and byproduct recycling to the power generation industry. Based in Louisville, Kentucky, 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. Charah Solutions assists utilities and independent power producers with all aspects of sustainably managing and recycling 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, structural fill projects, power plant remediation and site redevelopment. For more information, please visit www.charah.com or download our 2021 Environmental, Social and Governance (ESG) Report at 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, 2021 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 Contacts
Roger Shannon
Charah Solutions
(502) 245-1353
ir@charah.com

Caldwell Bailey
ICR, Inc.
(646) 677-1894
Caldwell.Bailey@icrinc.com

Media Contact
Brad Mercer
PriceWeber Marketing
(502) 777-3308
media@charah.com

SOURCE: Charah Solutions, Inc.

View source version on accesswire.com:
https://www.accesswire.com/707732/Charah-Solutions-Awarded-Multi-Year-Fly-Ash-Sales-and-Marketing-Contract-from-Indiana-Regulated-Utility

FAQ

What is the significance of the contract awarded to Charah Solutions?

The contract will allow Charah Solutions to manage the marketing and recycling of 150,000 tons of fly ash annually, significantly contributing to sustainability efforts.

When does the contract for fly ash recycling begin?

The contract is set to begin in Q3 2022.

How does the fly ash recycling contract impact Charah Solutions financially?

While specific financial terms are not disclosed, the contract is expected to positively impact Charah Solutions' revenue through sustainable recycling efforts.

What goals does Charah Solutions aim to achieve with the fly ash project?

Charah Solutions aims to reduce landfill waste, enhance concrete quality, and contribute to carbon-neutral concrete production by 2050.

What is the MultiSource materials network?

MultiSource is Charah Solutions' distribution network that provides supplementary cementitious materials to concrete producers across nearly 40 locations.