Charah Solutions Awarded Multiple Contracts by Long-Term Southeastern Utility Partner for Construction and Ash Pond Closure Projects

Rhea-AI Summary

Charah Solutions (NYSE:CHRA) has been awarded contracts for three ash pond projects by a long-term Southeastern utility partner. The contracts involve site clearing, road construction, ash stabilization, excavation, and relocation of coal combustion residuals from ash ponds. Work commenced in fall 2021 and includes the construction of haul roads and stabilization of ash basins. Charah Solutions aims to leverage its extensive experience in environmental services to meet regulatory and technical requirements, potentially paving the way for further projects in the future.

Positive

• Awarded three contracts for ash pond closure and stabilization, indicating a steady revenue stream.
• Projects showcase Charah Solutions' expertise in environmental services, enhancing its reputation in the market.
• Potential for additional work from the same utility partner due to successful project execution.

Negative

• None.

Scope of Project Includes Site Clearing, Road Construction, Ash Stabilization, Ash Excavation and Ash Relocation

LOUISVILLE, KY / ACCESSWIRE / October 21, 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 two ash pond closure contracts and one ash pond stabilization contract by a long-term Southeastern utility partner. Work on all three of these projects started in the fall of 2021. Charah Solutions will complete basin excavation work at each site with services including site clearing, haul road construction, ash stabilization, ash excavation and ash relocation into existing lined landfill cells.

The first project's scope includes the excavation and removal of coal combustion residuals (CCR) from a legacy ash pond and the delivery of the CCRs to another existing ash basin for processing. The second project's scope of work includes the construction of a haul road between two existing ash basins, site clearing work within one basin, and the establishment of a rim ditch and sump to begin the excavation and hauling of ash. The third project's scope includes ash basin stabilization so that the material can be excavated and processed in the future.

"Charah Solutions has decades of proven experience and expertise to handle every regulatory, engineering and technical issue related to pond excavation and CCR landfill management," said Scott Sewell, Charah Solutions President and CEO. "We are delighted to meet our customer's specific ash basin excavation and closure needs, paving the way for potential additional work in the future."

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.

View source version on accesswire.com:
https://www.accesswire.com/669008/Charah-Solutions-Awarded-Multiple-Contracts-by-Long-Term-Southeastern-Utility-Partner-for-Construction-and-Ash-Pond-Closure-Projects

FAQ

What contracts has Charah Solutions been awarded recently?

Charah Solutions has been awarded three contracts for ash pond closure and stabilization work for a Southeastern utility partner.

What types of work are included in the ash pond projects for Charah Solutions?

The projects include site clearing, road construction, ash stabilization, excavation, and relocation of coal combustion residuals.

When did Charah Solutions start working on the ash pond projects?

Work on the ash pond projects began in the fall of 2021.

How does Charah Solutions plan to meet regulatory requirements for these projects?

Charah Solutions plans to leverage its decades of experience in environmental services to manage regulatory and engineering challenges.

What is the significance of these contracts for Charah Solutions?

The contracts are significant as they provide a steady revenue stream and showcase the company's expertise, potentially leading to more future work.