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Charah Solutions, Inc., based in Louisville, Kentucky, stands as a prominent provider of environmental and maintenance services tailored for the power generation industry. With operations spanning coal-fired and nuclear power generation sites nationwide, Charah Solutions boasts over 35 years of experience in tackling the industry's most complex environmental challenges.
As an industry leader in quality, safety, and compliance, Charah Solutions is committed to sustainability and reducing greenhouse gas emissions, striving for a cleaner energy future. The Company offers a comprehensive suite of services that include managing and recycling ash byproducts produced from coal combustion, ash pond management and closure, landfill construction, structural fill projects, power plant remediation, and site redevelopment.
Recently, Charah Solutions has expanded its portfolio through the acquisition by funds managed by SER Capital Partners. This strategic move aligns with both companies' commitment to sustainable investments and innovative environmental solutions. The acquisition, completed on July 13, 2023, positions Charah Solutions for a new chapter of growth and success, supported by SER's extensive utility industry experience and strategic resources.
Under the leadership of President and CEO Jonathan Batarseh, Charah Solutions continues to build on its reputation as the partner of choice for solving environmental challenges. The Company’s dedicated team of nearly 600 employees works tirelessly to serve its many customers, ensuring sustainable management and recycling practices.
In addition to environmental services, Charah Solutions remains financially robust, adhering to the terms of its 8.50% Senior Notes due August 31, 2026, and maintaining a solid financial foundation under the guidance of newly appointed CFO Tony Tomljanovic, effective June 3, 2024. With over 30 years of financial expertise, Tomljanovic is expected to steer the company towards optimized operational efficiency and sustainable growth.
With a steadfast commitment to innovation and sustainability, Charah Solutions is poised to continue delivering advanced environmental solutions, contributing to a sustainable future for the power generation industry and beyond.
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.
Charah Solutions (NYSE:CHRA) will present at the Stifel 2022 Cross Sector Insight Conference in Boston on June 7, 2022, at 9:45 AM ET. CEO Scott Sewell and CFO Roger Shannon will lead the presentation, followed by individual investor meetings.
A live webcast is available at this link, and an archive will be accessible afterward. The conference runs from June 7-9, 2022, at the InterContinental Hotel.
Charah Solutions (NYSE:CHRA) will present and hold investor meetings at the B. Riley Securities 22nd Annual Conference in Los Angeles on May 25, 2022. CEO Scott Sewell and CFO Roger Shannon will participate in a fireside chat at 12:30 PM ET, followed by individual meetings. The conference runs from May 25-26, featuring over 200 management teams and institutional investors. Charah, with over 30 years in environmental services, specializes in recycling and ash management for power generation.
Charah Solutions (NYSE:CHRA) received the prestigious Crystal Eagle Excellence in Safety Award from the Coalition for Construction Safety (CCS) on April 28, 2022. The award recognizes the company’s innovative safety programs and commitment to employee safety. Charah Solutions achieved a Total Recordable Incident Rate (TRIR) of 0.32 in 2021 and maintains a three-year average Experience Modification Rate (EMR) of less than 0.62. This recognition emphasizes Charah Solutions' focus on creating a safe work environment, aligning with its core value of safety.
Charah Solutions (NYSE:CHRA) reported Q1 2022 revenue of $66.1 million, up from $52.1 million in Q1 2021, but down from $93.4 million in Q4 2021. Gross profit was negative $3.8 million, with a net loss of $12.0 million. Supply chain issues and adverse weather caused project delays and cost overruns. Year-to-date awards reached $87.7 million, supported by a healthy market trend and a pending new business pipeline of $3.15 billion. Charah reaffirms annual guidance of $325-$365 million in revenue, with adjusted EBITDA expected at the lower end.
Charah Solutions (NYSE:CHRA) will announce its Q1 2022 financial results on May 10, 2022, post-market. A conference call to discuss these results is set for May 11, 2022, at 8:30 a.m. ET. Investors can register via a provided link and access the call through the company's Investor Relations page. A replay will be available afterwards. With over 30 years in the industry, Charah Solutions focuses on sustainable environmental services and byproduct recycling for the power generation sector, aiming to reduce greenhouse gas emissions.
Charah Solutions (NYSE:CHRA) has acquired the Cheswick Generating Station, Lefever Ash Landfill, and Monarch Wastewater Treatment Facility from GenOn to initiate environmental remediation and redevelopment in a sustainable manner. This acquisition, finalized on April 6, 2022, positions Charah to reduce over 1 million tons of CO2 emissions annually by decommissioning the coal-fired plant. The project is part of Charah's broader strategy to capitalize on the expected decommissioning of 240 U.S. coal-fired plants over the next 10-15 years, benefiting local communities and the environment.
Charah Solutions, a leader in environmental services, has successfully acquired the Avon Lake Generating Station from GenOn, closing the deal on April 4, 2022. The 627 MW coal-fired plant, located in Avon Lake, Ohio, will undergo environmental remediation and sustainable redevelopment, aiming to significantly reduce carbon emissions by approximately 500,000 tons annually. Charah Solutions will lead the decommissioning and redevelopment, collaborating with local partners for a future environmentally conscious use of the site.
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