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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 has secured a 7-year contract extension to manage flue gas desulfurization (FGD) operations at the Miami Fort Power Plant in Ohio, extending operations through the plant's expected retirement in 2027. The company has been operating the FGD since 2018, providing crucial services like limestone management and wastewater treatment, ensuring that 100% of gypsum produced is beneficially used in manufacturing. This contract reinforces Charah's commitment to sustainability and operational excellence within the power generation sector.
Charah Solutions (NYSE:CHRA) has secured a three-year contract extension with Luminant to manage landfill and ash pond operations at its Miami Fort and Zimmer Power Plants in Ohio, handling approximately 180,000 tons of ash annually. Additionally, Charah will recycle and sell 400,000 tons of fly ash each year for use in Portland cement. This extension is part of Charah's commitment to sustainability and reducing landfill waste while providing high-quality materials to concrete producers through its MultiSource network.
Charah Solutions (NYSE: CHRA) reported a record $715 million in new business awards for 2020, a 66% increase from 2019, signaling robust growth. Despite a net loss of $36.2 million in Q4 2020 and $60.4 million for the year, management indicates improving momentum with nearly $1 billion in pending bids converted into long-term contracts. The company has launched its inaugural ESG report, reinforcing its commitment to sustainability. New technology, rebranded as EnviroSource, aims to enhance fly ash quality and reduce the environmental impact of concrete production.
Charah Solutions (NYSE:CHRA) has announced a conference call on March 25, 2021, at 8:30 a.m. ET to discuss its fourth quarter 2020 financial results. Participants can register for the call through a provided link or listen via the Company's Investor Relations webpage. A replay will be available post-call. With over 30 years of experience, Charah Solutions specializes in environmental services for the power generation industry, including ash byproduct management and recycling, aimed at reducing greenhouse gas emissions.
Charah Solutions (NYSE:CHRA) has secured a 5-year ash marketing contract with NV Energy to manage the sale of fly ash from the North Valmy Generating Station in Nevada. The contract aims to utilize fly ash in the ready mix concrete market, replacing Portland cement, and is expected to reduce CO2 emissions. Charah Solutions will distribute the material via its MultiSource® network, reinforcing its sustainability commitments. This partnership enhances Charah’s role in environmentally-conscious solutions while meeting market demand.
Charah Solutions has secured two long-term contracts for ash pond closure from a Southeastern utility, totaling approximately 22 million cubic yards of ponded ash. The first project involves excavating 16.5 million cubic yards over 16 years, while the second focuses on 5.5 million cubic yards over 8 years. Both projects include constructing lined landfills, with operations beginning in March 2021. Charah’s President emphasized their expertise in managing environmental compliance throughout the projects.
Charah Solutions (NYSE:CHRA) has successfully acquired the Gibbons Creek Steam Electric Station from Texas Municipal Power Agency (TMPA) to begin remediation and redevelopment efforts. This 6,166-acre property includes a decommissioned coal plant and a 3,500-acre reservoir. Charah's subsidiary will oversee environmental remediation, aiming to transform the site into economically beneficial uses, including solar and energy storage projects. The redevelopment is planned to be completed within 36 months, promoting local job creation and supporting the tax base.
Charah Solutions (NYSE:CHRA) has secured a marketing contract with Dominion Energy for the recycling of up to 8.1 million tons of coal ash from Chesterfield Power Station, Virginia. This initiative, mandated by Virginia legislation, aims to recycle coal ash for use in Portland cement production over the next 10+ years. The project supports sustainability by decreasing carbon emissions and repurposing waste materials. Charah will establish processing and transportation infrastructure to facilitate this transition, enhancing its MultiSource distribution network for cement markets.
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