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Reworld™ Delaware Valley is demonstrating its commitment to the Chester community by organizing a cleanup effort beneath the Commodore Barry Bridge as part of its Adopt-a-Park initiative on World Cleanup Day. The event, which includes cleaning down Highland Avenue, is part of the company's ongoing efforts to foster a cleaner, safer, and more vibrant environment for Chester residents.
Brittany Addison, Manager of Community Outreach at Reworld™, emphasized that their commitment to Chester extends beyond business operations, stating that they are invested in the community's well-being. The Adopt-a-Park program is a key component of Reworld™'s broader commitment to environmental sustainability and community betterment.
Reworld™ is encouraging community members to participate in the cleanup effort, providing all necessary materials including gloves and trash bags. This initiative aims to ensure that local parks and public spaces remain well-maintained and free of litter, contributing to a cleaner, greener Chester community.
Reworld™, a leader in sustainable waste solutions, has launched the Reworld™ Customer Gateway, a centralized platform designed to enhance customer experience. This new resource integrates various account management functions, providing customers with efficient tools to manage their sustainable waste needs. Key features include:
- Real-time waste profile approval tracking
- Flexible scheduling for pick-ups and deliveries
- Instant access to invoices dating back to 2022
- Streamlined customer support
- One-click account management
The Gateway complements Reworld™'s expanded suite of service lines, including ReCredit, ReDirect360™, ReKiln™, ReDrop™, and ReMove, offering an intuitive interface for customers to engage with these services efficiently.
Covanta Holding Corporation (NYSE: CVA) reported a strong financial performance for Q3 2021, with revenues reaching $539 million, an increase from $491 million in 2020. Net income surged to $30 million from $5 million, and Adjusted EBITDA rose $41 million to $169 million. Key drivers include higher waste-to-energy tip fees and increased commodity prices. The company also reported free cash flow of $60 million, reflecting improved operational efficiency. A shareholder-approved EQT transaction is set to close by year-end, subject to approvals.
Covanta Holding Corporation (NYSE: CVA) announced on Oct. 15, 2021, that it has received the requisite consents from bondholders to amend the terms of certain tax-exempt bonds in connection with a merger agreement. This consent follows a prior announcement on Oct. 5, 2021, regarding a merger with Covert Mergeco, Inc., an affiliate of EQT Infrastructure. The amendments will eliminate the requirement for a 'Change of Control Offer' due to the merger. The changes are set to be executed around Oct. 21, 2021, following the delivery of guarantees from certain subsidiaries related to the debt financing for the merger.
Covanta Holding Corporation (NYSE: CVA) announced that its stockholders approved the acquisition by EQT Infrastructure for $20.25 per share in cash during a special meeting on October 12, 2021. Approximately 69.7% of the issued shares voted in favor, representing about 97.5% of the shares voted. The acquisition is expected to finalize in Q4 2021, pending regulatory approvals. CEO Michael W. Ranger expressed optimism about the partnership, highlighting the potential for growth and innovation in sustainable waste management.
Covanta Holding Corporation (NYSE: CVA) announced that Covert Mergeco, Inc., an affiliate of EQT Infrastructure, has initiated consent solicitations for various outstanding tax-exempt bonds related to a planned merger. The merger will see Covert Mergeco merge with Covanta, with the latter continuing as a subsidiary. The debt financing for this merger amounts to up to $3 billion. Holders of bonds who consent before October 15, 2021, will be eligible for a $5.00 cash fee per $1,000 in bond principal. Approval requires a majority consent of the bondholders.
Covanta Holding Corporation (NYSE: CVA) declared a quarterly cash dividend of $0.08 per share. This dividend is payable on October 15, 2021, to stockholders of record as of the close of business on October 7, 2021. Covanta is a leader in sustainable waste-to-energy solutions, converting approximately 21 million tons of waste into renewable electricity annually, enough to power one million homes and recycle 600,000 tons of metal.
Covanta Holding Corporation (NYSE: CVA) announced on September 8, 2021, that it successfully received requisite consents from holders of its 6.000% Senior Notes due 2027 and 5.000% Senior Notes due 2030 to amend the Indenture terms. The amendments eliminate the requirement for a "Change of Control Offer" due to an upcoming merger with Covert Mergeco, Inc., ensuring a smooth transition for stakeholders. The consent process will culminate with the payment of a consent fee following the merger's completion.
Covanta Holding Corporation (NYSE: CVA) announced its financial results for Q2 2021, reporting revenues of $506 million, up from $454 million in 2020. The company recorded a net loss of $(19) million, compared to $(13) million last year. Adjusted EBITDA rose to $110 million, reflecting a 15% year-over-year increase, supported by an 8% rise in waste-to-energy tip fee prices. Covanta also reported $105 million in net cash from operations and $62 million in free cash flow. The company is focused on sustainable solutions and preparing for its acquisition by EQT at $20.25 per share.
Covanta Holding Corporation (NYSE: CVA) announced a definitive agreement for EQT Infrastructure to acquire all shares of Covanta for $20.25 per share, representing a 37% premium over its previous share price of $14.78. The deal requires Covanta shareholder and government approvals and is expected to close in Q4 2021. Covanta, a leader in sustainable waste-to-energy solutions, operates over 40 facilities in North America and Europe, processing approximately 21 million tons of waste annually. EQT plans to enhance Covanta's operational capabilities post-acquisition.
