Casella announces first electric refuse vehicle in Vermont

Rhea-AI Summary

Casella Waste Systems has launched a pilot program for the first electric refuse vehicle in Vermont, the Mack LR Electric, at a ceremony in Rutland. This initiative is part of Vermont's efforts to electrify its transportation sector, supported by funding from the Volkswagen Environmental Mitigation Trust. The electric truck, which will operate on residential routes, is expected to save over 7,500 gallons of diesel fuel annually and cut greenhouse gas emissions by more than 78 metric tons. The company aims to explore the viability of this technology for broader application in the future.

Positive

• First electric refuse vehicle in Vermont, enhancing sustainability efforts.
• Expected to save over 7,500 gallons of diesel fuel annually.
• Anticipated reduction of more than 78 metric tons of greenhouse gas emissions per year.

Negative

• Operational challenges expected due to Vermont's mountainous terrain and cold winters.
• Success of emission reduction goals remains uncertain.
• Dependence on grant funding may limit scalability of the pilot program.

Pilot program set to launch in Rutland Region with new Mack LR E automated side loader

RUTLAND, Vt., Dec. 08, 2022 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc., (Casella) (Nasdaq: CWST) introduced its Mack^® LR Electric model, the first electric refuse vehicle in the State of Vermont, in a ceremony at the Killington Grand Hotel in front of over 100 onlookers including local and state representatives, local business leaders, customers, employees, and more.

The event was highlighted by remarks from Vermont Governor, Phil Scott, who referred to the announcement as another exciting step in Vermont’s efforts to electrify the transportation sector.

“The State of Vermont continues to be a leader in electrifying the transportation sector, and I truly believe it’s the future,” Gov. Scott said. “But, the government cannot lead the transition alone. It takes committed partners in the private sector, like Casella, to step up as well. I thank Casella for making this exciting investment, and I look forward to our continued partnerships.”

Casella’s LR Electric refuse truck is the first in its fleet and has been equipped with an automated side-loader with a split body for collecting waste and recycling simultaneously. By switching one truck from diesel to electric, Casella expects to conserve over 7,500 gallons of diesel fuel per year, which has an immediate benefit to our air and climate. Because the fleet will be charging with Green Mountain Power, which delivers 100% carbon-free electricity, the company expects to eliminate over 78 metric tons of greenhouse gas emissions per year, which is equivalent to taking around 16 passenger vehicles off the road.

The Mack LR E will be used on residential routes in the Rutland Region and was partially made possible when Casella successfully secured grant funding through the Vermont Department of Environmental Conservation’s Volkswagen Environmental Mitigation Trust. Casella believes that Vermont will provide the right proving ground for the pilot program, testing against the mountainous terrain and cold winters.

“Sustainable innovation is core to everything we do as a company,” said Casella Chairman and CEO, John W. Casella. “The opportunity to pilot the Mack LR Electric in Vermont will help us evaluate whether this is a viable option in other markets that we serve. The opportunity to cut greenhouse gas (GHG) emissions, while maintaining a high level of service to our customers, is key to us.”

In 2005 Casella joined the EPA Climate Leaders as a charter member, and in 2012 the company was awarded the EPA’s Climate Leadership Award for Excellence in Greenhouse Gas Emissions after reducing its carbon footprint by more than 45 percent and has recently established a goal to reduce it by another 40 percent by 2030.

“This is another important milestone in our pursuit of becoming a more sustainable business while serving our customers in a way that helps them meet their sustainability goals as well,” Casella said. “This pilot program is an important step in understanding the viability of the technology and how we could potentially scale it.”

For more information on Casella’s sustainability efforts, visit www.casella.com/sustainability.

ABOUT CASELLA WASTE SYSTEMS, INC.
Casella Waste Systems, Inc., headquartered in nearby Rutland, Vermont, is the Northeast’s largest recycler and most experienced fully integrated resource management company. Founded in 1975 as a single truck collection service, Casella has grown its operations to provide solid waste collection and disposal, transfer, recycling, and organics services to more than 900,000 residential, commercial, municipal, institutional, and industrial customers throughout the Northeast, and professional resource management services to over 10,000 customer locations in more than 40 states.

For further information, investors should contact Jason Mead, SVP Finance & Treasurer at (802) 772-2293, and media should contact Jeff Weld, Director of Communications at (802) 772-2234, or visit the company’s website at www.casella.com.

SAFE HARBOR STATEMENT
Certain matters discussed in this press release, including, but not limited to, the statements regarding our intentions, beliefs or current expectations concerning, among other things, our financial performance; financial condition; operations and services; prospects; growth; strategies; anticipated impacts from future or completed acquisitions; guidance for fiscal year 2022; and beliefs or current expectations concerning its sustainability goals and commitments and anticipated actions to meet such goals and commitments, and the Company’s progress towards, and achievement of, its sustainability strategy and vision, are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as “believe,” “expect,” “anticipate,” “plan,” “may,” “would,” “intend,” “estimate,” "will," “guidance” and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which the Company operates and management’s beliefs and assumptions. The Company cannot guarantee that it actually will achieve the financial results, plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of the Company's operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in its forward-looking statements.

Such risks and uncertainties include or relate to, among other things, the following: the ability to reach expected levels of greenhouse gas emission reductions with the operation of electric powered waste and recycling collection vehicles; and the ability to further reduce the Company’s carbon footprint.

There are a number of other important risks and uncertainties that could cause the Company’s actual results to differ materially from those indicated by such forward-looking statements. These additional risks and uncertainties include, without limitation, those detailed in Item 1A, “Risk Factors” in the Company's Form 10-K for the fiscal year ended December 31, 2021, and in the Company’s Form 10-Q for the quarterly period ended September 30, 2022, and in other filings that the Company may make with the Securities and Exchange Commission in the future.

The Company undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Investors:
Jason Mead
Senior Vice President of Finance & Treasurer
(802) 772-2293

Media:
Jeff Weld
Director of Communications
802-772-2234
http://www.casella.com

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/97471038-3302-45d2-b1dd-0c8530b3dbd1

https://www.globenewswire.com/NewsRoom/AttachmentNg/a62a0ec2-8083-4d36-92fc-29c9cd78b1a2

https://www.globenewswire.com/NewsRoom/AttachmentNg/a0fe95bf-5b69-433f-8481-2097482544d5

https://www.globenewswire.com/NewsRoom/AttachmentNg/3e69dce2-9d6f-43ad-901a-a848840db121

FAQ

What is the Casella Waste Systems electric vehicle pilot program?

Casella Waste Systems has launched a pilot program for the Mack LR Electric, the first electric refuse vehicle in Vermont, aimed at assessing its viability.

How much diesel fuel will the new electric refuse vehicle save?

The Mack LR Electric is expected to conserve over 7,500 gallons of diesel fuel annually.

What are the environmental benefits of Casella's new electric truck?

The new electric truck is projected to reduce greenhouse gas emissions by more than 78 metric tons per year.

When was the electric refuse vehicle introduced in Vermont?

The electric refuse vehicle was introduced on December 8, 2022.

What supports the pilot program for the electric refuse truck?

The pilot program is partially funded through grants from the Vermont Department of Environmental Conservation's Volkswagen Environmental Mitigation Trust.

What challenges might the new electric truck face in Vermont?

The truck may encounter operational challenges due to Vermont's mountainous terrain and cold winters.