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Charah Solutions, Inc., headquartered in Louisville, Kentucky, is a premier provider of environmental services and byproduct recycling solutions tailored to the power generation industry. With over 35 years of industry expertise, the company specializes in addressing the environmental challenges associated with coal-fired and nuclear power generation, making it a critical partner for utilities and independent power producers seeking sustainable and compliant operations.
Core Business Areas
Charah Solutions operates across several key domains, including:
- Byproduct Recycling: The company assists in the sustainable management and recycling of coal combustion byproducts, such as fly ash, transforming these materials into valuable resources for construction and other industries.
- Ash Pond Management and Closure: Charah designs and implements strategies for the remediation and closure of ash ponds, ensuring compliance with environmental regulations and reducing long-term ecological impact.
- Landfill Construction and Structural Fill Projects: The company develops and manages landfill sites and structural fill projects, providing safe and environmentally sound solutions for waste management.
- Power Plant Remediation and Site Redevelopment: Charah supports the decommissioning of power plants, offering site remediation and redevelopment services to prepare locations for future use.
Market Position and Industry Significance
Operating at the intersection of environmental sustainability and energy production, Charah Solutions plays a vital role in helping the power generation industry transition toward a cleaner energy future. As the sector faces increasing regulatory scrutiny and shifts away from coal-fired power, Charah's expertise in ash management and site remediation positions it as a key player in facilitating this transformation. The company’s commitment to reducing greenhouse gas emissions aligns with global sustainability goals, further enhancing its relevance in the market.
Revenue Model
Charah Solutions primarily generates revenue through long-term service contracts with utilities and independent power producers. These contracts encompass a range of services, from ash byproduct recycling to comprehensive site remediation projects. By offering tailored solutions that address complex environmental challenges, the company ensures steady demand for its expertise.
Competitive Landscape
In a competitive market, Charah Solutions differentiates itself through its extensive experience, commitment to quality and safety, and focus on sustainability. Its ability to provide end-to-end solutions—from byproduct recycling to site redevelopment—sets it apart from competitors who may specialize in only one aspect of environmental services. Additionally, the company’s alignment with evolving environmental regulations and its proactive approach to sustainability give it a strategic advantage.
Challenges and Opportunities
While the decline of coal-fired power generation poses a challenge, it also creates opportunities for Charah Solutions to expand its services in areas such as nuclear power site remediation and renewable energy infrastructure development. The company’s expertise in managing complex environmental projects positions it to capitalize on emerging trends in sustainable energy and environmental compliance.
Commitment to Sustainability
Charah Solutions is deeply committed to reducing greenhouse gas emissions and promoting a cleaner energy future. By recycling coal combustion byproducts and implementing environmentally sound remediation practices, the company not only supports its clients’ sustainability goals but also contributes to broader environmental stewardship efforts.
Conclusion
Charah Solutions, Inc. stands out as a trusted partner for the power generation industry, offering comprehensive environmental solutions that address both immediate operational needs and long-term sustainability goals. With its extensive experience, innovative approach, and commitment to quality and compliance, Charah is well-positioned to navigate the evolving landscape of energy production and environmental management.
Charah Solutions (NYSE:CHRA) has secured a five-year contract for the recycling and sale of fly ash from the Gen. James M. Gavin Power Plant in Ohio. This contract involves the recycling of 35,000 to 60,000 tons of Class F fly ash annually, addressing the growing demand in the ready-mix concrete market. The fly ash will be distributed via Charah's MultiSource network, promoting sustainability by reducing landfill waste and CO2 emissions. In 2020, Charah recycled 2.58 million tons of coal combustion residuals, saving 2.24 million tons of CO2.
Charah Solutions (NYSE:CHRA) announced the closing of its public offering of senior unsecured notes due 2026, totaling $135 million. The offering was increased by $5 million following the underwriters' option to purchase additional notes. The notes will bear an interest rate of 8.50% per year and are intended to repay the company's credit facility and fund general corporate purposes. The company aims to list the notes on the NYSE under the symbol CHRB.
Charah Solutions (NYSE:CHRA) has priced its public offering of 8.50% senior notes due 2026, raising approximately $130.3 million in net proceeds. An additional $5 million of notes was purchased via the underwriters' option. The proceeds will be used to repay the company's credit facility and fund general corporate purposes, including acquisitions and working capital. The notes will be listed on the NYSE under the symbol CHRB. The issuance has a rating of B from Egan-Jones Ratings Company, and trading is expected to commence within 30 days after issuance.
Charah Solutions, Inc. (NYSE:CHRA) has announced a public offering of $130 million in 8.50% senior notes due 2026. The proceeds will be used to repay its credit facility and for general corporate purposes, including acquisitions, repaying debt, and working capital. The notes will be issued in minimum denominations of $25.00 and are expected to list on the NYSE under the symbol 'CHRB'. The offering has received a B rating from Egan-Jones Ratings Company.
Charah Solutions (CHRA) reported a net loss of $6.5 million for Q2 2021, with revenues of $63.5 million, up 21.4% from Q2 2020. Year-to-date, new business awards reached $685 million, surpassing prior records and indicating strong revenue visibility for 2021 and 2022. Adjusted EBITDA improved to $6.5 million. The company reaffirmed its full-year guidance of $260 million to $300 million in revenue and expects continued growth. Recent credit facility amendments provide temporary financial flexibility. Challenges include potential disruptions from COVID-19 and adverse weather events.
Charah Solutions (NYSE:CHRA) has announced a conference call scheduled for August 10, 2021, at 8:30 a.m. ET to discuss its second quarter 2021 financial results. Participants can register via the provided link. A replay of the call will also be accessible on the Investor Relations section of their website after the event. With 30 years in the industry, Charah Solutions provides environmental services for power generation, focusing on sustainable management of ash byproducts and reducing greenhouse gas emissions.
Charah Solutions (NYSE:CHRA) announced the appointment of Timothy Alan Simon as a Class II Director on its Board of Directors. Simon, a former Commissioner Emeritus of the California Public Utilities Commission, brings over 40 years of experience in government regulation and utilities. His role is expected to add significant value as Charah Solutions enhances its services in the power generation sector, focusing on environmental stewardship and efficiency.
Charah Solutions (NYSE:CHRA) has announced the acquisition of the Avon Lake Generating Station from GenOn, a significant step in environmental remediation and sustainable redevelopment. The 627 MW coal-fired plant, located in Avon Lake, Ohio, will transition to remediation efforts post-closure in April 2022. Charah's subsidiary, Avon Lake Environmental Redevelopment Group, LLC, will oversee the project aimed at creating economic benefits and improving environmental conditions. This initiative aligns with Charah's 30-year commitment to sustainability in the utility sector.
Charah Solutions (CHRA) reported a net loss of $3.5 million for Q1 2021, a significant improvement from $14.4 million in Q1 2020. Revenue rose by 1.6% to $52.1 million, driven by remediation services despite a decline in byproduct sales due to decreased demand linked to the COVID-19 pandemic. The company secured $527 million in new business awards so far in 2021 and completed the acquisition of the Gibbons Creek facility, expanding its environmental services capacity. Adjusted EBITDA surged to $9.5 million, marking a 562% increase year-over-year.
Charah Solutions (NYSE:CHRA) has scheduled a conference call for May 13, 2021, at 8:30 a.m. ET to discuss its Q1 2021 financial results. Interested participants can register using a provided link with conference ID 5895303. A replay will be made available post-call on the Investor Relations section of the Charah Solutions website. The company specializes in environmental services and byproduct sales for the power generation sector, managing coal combustion byproducts and focusing on sustainable solutions.
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