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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) reported strong financial results for Q4 and full year 2021, achieving revenues of $93.4 million and $293.2 million, respectively, reflecting year-over-year increases of 42.2% and 26.2%. Notably, the company secured $840 million in new business, surpassing its 2020 record. Despite a net loss of $5.8 million for 2021, an 89.6% reduction from the previous year, adjusted EBITDA rose to $40.1 million. Challenges included supply chain constraints affecting raw materials and a decrease in gross profit margins. The outlook for 2022 projects revenue between $325 million and $365 million.
Charah Solutions, Inc. (NYSE:CHRA) will hold a conference call on April 1, 2022, at 8:30 a.m. ET to discuss its fourth quarter and full-year 2021 financial results. Interested participants can register for the call via a provided link, and a replay will be accessible shortly after the call. Charah Solutions offers environmental services and byproduct sales to the power generation sector, with a focus on sustainable management of ash byproducts from coal combustion. More details can be found on their website.
Charah Solutions (NYSE:CHRA) has successfully placed 100% of the real property acreage at the Texas Municipal Power Agency's former Gibbons Creek Steam Electric Station under contract within a year of acquiring the site. This includes commercial assets, with ongoing environmental remediation of ash ponds and landfills expected to be completed in 2023. The company emphasizes the potential for growth in its Environmental Risk Transfer services, aiming to meet future decommissioning needs in the power sector, create local jobs, and enhance sustainability efforts.
Charah Solutions (NYSE:CHRA) has secured a fly ash sales and marketing contract from a western utility, focusing on the sustainable recycling of fly ash. The company will utilize its MultiSource materials network to distribute specification-grade fly ash, expected to be shipped entirely by rail to west coast markets. This initiative aligns with Charah's long-standing commitment to sustainability and reducing carbon footprints. The move is aimed at improving the quality of concrete products while minimizing landfill disposal and conserving natural resources.
Charah Solutions (NYSE:CHRA) has signed a binding agreement to acquire the Cheswick Generating Station, Lefever Ash Landfill, and Monarch Wastewater Treatment Facility from GenOn. This acquisition reflects a commitment to sustainable environmental remediation, with plans to decommission the coal plant and redevelop the site. The Cheswick facility is set to cease operations by March 31, 2022. This is Charah’s fifth major Environmental Risk Transfer project, strategically positioning the company to capitalize on the decommissioning of coal-fired power plants in the U.S. over the next decade.
Charah Solutions (NYSE:CHRA) has successfully completed the sale of nearly 80% of the real property it acquired from the Texas Municipal Power Agency, totaling 4,860 acres out of 6,166 acres. This transaction, finalized in just 10 months, includes a 3,500 acre reservoir and aims for future residential development. Additionally, environmental remediation of ash ponds and landfills is progressing ahead of schedule. Charah Solutions is committed to sustainable practices, enhancing economic activity, and supporting local communities in Grimes County, TX.
Charah Solutions has expressed readiness to support utility partners in adhering to the EPA's strengthened coal ash regulations following the agency's recent announcement on January 11, 2022. This marks the first enforcement of the 2015 Coal Combustion Residuals Regulation, aimed at managing coal ash and groundwater. The new rules impact approximately 1,000 regulatory mandated impoundments and focus on closing unlined coal ash ponds. Charah has successfully closed 12 ash ponds since the rule's inception and continues to offer comprehensive remediation and compliance services across 40 plants nationwide.
Charah Solutions (NYSE:CHRA) has earned the highly regarded Southern Company Triangle Safety Award for exceptional safety performance in 2020. The award recognizes contractors maintaining top-quartile safety standards, including a Total Recordable Incident Rate of 0.36 and zero lost time injuries. Charah's significant projects involved the closure of a 100-acre surface impoundment, recycling 2.58 million tons of coal combustion residuals, and reducing CO2 emissions by over 2.24 million tons. The company's commitment to safety and environmental sustainability is evident in their ongoing projects and operational practices.
Charah Solutions (NYSE: CHRA) announced significant charitable support in 2021 through its Charah Cares initiative, focusing on environmental and community causes, education, and diversity. The company partnered with various organizations, including Living Lands and Waters and local food banks, to aid communities affected by disasters and promote diversity in contracting. President Scott Sewell emphasized their commitment to community well-being and their ESG goals. More details will be included in the upcoming 2021 ESG report.
Charah Solutions (NYSE:CHRA) announces that its President & CEO, Scott Sewell, has been honored with the 2021 CEO Today USA Award. This award recognizes CEOs for their innovation and strategic vision across various sectors. Sewell is acknowledged for launching the Environmental Risk Transfer (ERT) services aimed at the decommissioning and remediation of coal-fired power plants, while also spearheading ESG initiatives. His leadership is pivotal in addressing coal's environmental challenges and advancing sustainable practices in the power generation industry.
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