Charah Solutions Awarded Multiple Remediation & Compliance Services and Byproduct Services Contracts from Three Southeast Utilities

Rhea-AI Summary

Charah Solutions (NYSE:CHRA) announced several significant contracts aimed at managing coal combustion residuals (CCR) across the Southeast. The projects include dewatering and excavation of 400,000 tons of CCR in Louisiana, and management of 1.7 million tons of CCR in Arkansas over a long-term landfill operation. Another contract involves the excavation of 750,000 cubic yards of CCR in Arkansas for ash pond closure. The company emphasizes its commitment to sustainability and regulatory compliance in servicing utility partners.

Positive

• Awarded contracts totaling approximately 2.1 million tons of CCR management, enhancing revenue potential.
• Demonstrated expertise in environmental services, ensuring compliance with regulatory standards.

Negative

• None.

Ash Pond Excavation Project in Louisiana Includes Dewatering, Excavation, Hauling and Disposal of Approximately 400,000 Tons of Coal Combustion Residuals

Long-Term Landfill Operations Project in Arkansas Includes Operational Management and Disposal of Approximately 1.7 Million Tons of Fly Ash, Bottom Ash and SDA Reactor Ash

Ash Pond Closure by Removal Contract in Arkansas Includes Excavation of Over 750,000 Cubic Yards of Ponded Coal Combustion Residuals and Earthen Material

LOUISVILLE, KY / ACCESSWIRE / August 2, 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 two Remediation & Compliance Services contracts and one Byproduct Services contact from three different utility partners throughout the Southeast:

• Charah Solutions' Ash Pond Management Services contract in Louisiana includes the dewatering, excavation and removal of approximately 400,000 tons of coal combustion residuals (CCR) from two legacy ash basins and the delivery and disposal of the CCRs to the station's existing onsite lined landfill.
• The Company's long-term Landfill Operations contract in Arkansas for Byproduct Services includes CCR material loading, transportation, placement and compaction in an existing onsite lined landfill. Charah Solutions will manage and transport conditioned fly ash, bottom ash, spray dryer absorber (SDA) reactor ash and filter cake for a total of approximately 1.7 million tons of CCR materials over the life of the contract.
• Charah Solutions' Ash Pond Management Services contract in Arkansas includes the closure by removal of a retiring pond. This project involves the excavation of nearly 690,000 cubic yards of CCR from the ash and coal yard runoff pond plus the excavation of over 60,000 cubic yards of the underlying soil. Excavated and dredged materials will be placed in an onsite lined landfill while the excavated bottom ash segregated portions ultimately will be marketed and sold as a raw material to the Portland cement production industry.

"We are delighted to be awarded these multiple projects from three different utility partners to meet their specific remediation and compliance and byproduct service needs, ensuring a well-managed and compliant program from start to finish," said Scott Sewell, Charah Solutions President & CEO. "Charah Solutions has decades of proven experience and expertise to handle every regulatory, engineering and technical issue related to CCR ash pond closure and landfill management, and we are committed to meeting the evolving and increasingly complex needs of our utility partners and supporting their sustainability initiatives."

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.

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.

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FAQ

What contracts were awarded to Charah Solutions (CHRA) recently?

Charah Solutions was awarded contracts for managing approximately 400,000 tons of CCR in Louisiana and 1.7 million tons of CCR in Arkansas, along with a contract for the excavation of over 750,000 cubic yards of CCR.

How does Charah Solutions plan to manage coal combustion residuals?

Charah Solutions will handle the dewatering, excavation, and disposal of CCR materials, ensuring compliance with environmental regulations.

What is the significance of the new contracts for Charah Solutions (CHRA)?

The contracts represent a considerable increase in operational scope and revenue potential for Charah Solutions, solidifying its position in the environmental services market.

Where are the new projects located for Charah Solutions (CHRA)?

The new projects are located in Louisiana and Arkansas, focusing on CCR management and ash pond closure.