Montrose Environmental Group Implements Proprietary Technology to Address Colorado Air Monitoring Regulations

Rhea-AI Summary

Montrose Environmental Group (NYSE: MEG) has implemented its proprietary technology to address Colorado's air monitoring regulations. The company partnered with two of the four affected facilities in Colorado to install and operate a fenceline air monitoring program in compliance with HB21-1189, which requires real-time monitoring of benzene, hydrogen sulfide, and hydrogen cyanide.

Key components of the program include:

• Installing a fenceline monitoring system
• Launching a public-facing website using Montrose's Sensible EDP™ software
• Leveraging expert toxicologists to review data and educate the community

The program resulted in a public website displaying near real-time fenceline monitoring data and a public alert system for pollutant concentration exceedances.

Positive

• Montrose partnered with two of the four affected facilities in Colorado, demonstrating market penetration
• Implementation of proprietary technology (Sensible EDP™ software) for air monitoring solutions
• Expansion of services to include public-facing websites and alert systems, potentially increasing revenue streams
• Leveraging expertise from CTEH division for data review and community education, showcasing integrated services

Negative

• None.

Insights

Environmental Regulations Expert

The recent implementation of Montrose Environmental Group's proprietary technology to address Colorado's air monitoring regulations is a significant development. The new legislation, HB21-1189, requires real-time air monitoring for specific toxic compounds, imposing stringent requirements on facilities. Montrose's partnership with two major facilities highlights its proactive approach to regulatory compliance.

This move ensures that they stay ahead of compliance deadlines and fosters transparency through the development of a public-facing website. The inclusion of a reverse 911 alert system is a commendable feature that prioritize public health and safety. From an environmental standpoint, this initiative sets a precedent for other states to follow, potentially increasing demand for similar technologies nationwide.

Financial Analyst

The strategic implementation of proprietary technology by Montrose Environmental Group in response to Colorado's air monitoring regulations positions the company well in the environmental solutions market. Partnering with two of the four affected facilities provides a unique competitive advantage. This will likely enhance revenue streams and strengthen long-term growth, especially as other states consider similar regulations.

Financially, this proactive compliance and innovative approach can lead to increased investor confidence. The creation of a public-facing website and integration of advanced monitoring technology could translate into higher contracts and service demand, boosting Montrose's market valuation. Investors should watch for any subsequent deals or expansions that Montrose secures as a result of this initiative.

Community Health Specialist

Montrose's initiative to employ proprietary technology for air monitoring, in light of Colorado's new regulations, is a significant step toward improving public health. By providing real-time data and involving toxicologists to interpret and communicate health risks, Montrose empowers communities with vital information. This transparency allows residents to make informed decisions about their health and safety.

Moreover, the public alert system ensures prompt community response to potential hazards, showcasing a genuine commitment to public well-being. This approach not only fulfills regulatory requirements but also bridges the gap between industry operations and community health, fostering trust and collaboration.

LITTLE ROCK, Ark., July 16, 2024 /PRNewswire/ -- Montrose Environmental Group, Inc. ("Montrose" or "the Company") (NYSE: MEG), a high-growth global environmental solutions company, today shared insight into the use of their proprietary technology to address air monitoring regulations in Colorado.

On June 24, 2021, Colorado Gov. Jared Polis signed HB21-1189 into law, requiring covered facilities to conduct real-time air monitoring, including fenceline and community monitoring, for three covered air toxics: benzene, hydrogen sulfide and hydrogen cyanide. The law requires facilities to implement optical remote sensing or other monitoring technology with the capability to provide real-time spatial and temporal data that quantifies and qualifies emissions. HB21-1189 also stipulates that all collected real-time data must be publicly available.

Montrose partnered with two of the four affected facilities in Colorado to install and operate a fenceline air monitoring program, including the development of a monitoring plan, to satisfy the requirements of HB21-1189, the Colorado Air Pollution Control Division (APCD) and the EPA's general project plan specifications. Key components of the program included:

• Procuring and installing a fenceline monitoring system;
• Building and launching a public-facing website, in both English and Spanish, utilizing Montrose's Sensible EDP™ software; and
• Leveraging expert toxicologists from Montrose's readiness, response and recovery division, CTEH, to review data and educate the community on health-based action thresholds.

"HB21-1189 aims to protect communities by improving the quality and quantity of publicly available emissions data," said Vijay Manthripragada, President and Chief Executive Officer of Montrose Environmental Group. "Montrose's air monitoring solution continuously monitors critical compounds at facilities, disseminates the information in partnership with industry to the public and includes community health-based thresholds to enhance community awareness of air quality safety levels. This comprehensive approach supports communities and facilities coexisting in a safe and environmentally conscious way, not just in Colorado, but across the United States."

Key outcomes of the air monitoring program include:

• A public facing website that allows community members to see the facilities' fenceline monitoring data, measured at a five-minute resolution, in near real-time; and
• A public alert system via reverse 911 if pollutant concentrations exceed the defined monitoring thresholds.

Implementation of the Company's proprietary software paired with health exposure and toxicology experts enables facilities to disseminate information about critical compounds to communities and comply with regulations.

About Montrose

Montrose is a leading environmental solutions company focused on supporting commercial and government organizations as they deal with the challenges of today and prepare for what's coming tomorrow. With ~3200 employees across 100+ locations worldwide, Montrose combines deep local knowledge with an integrated approach to design, engineering, and operations, enabling Montrose to respond effectively and efficiently to the unique requirements of each project. From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering, and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs – and well ahead of the strategic curve. For more information, visit www.montrose-env.com.

Forward‐Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "intend," "expect", and "may", and other similar expressions that predict or indicate future events or that are not statements of historical matters. Forward-looking statements are based on current information available at the time the statements are made and on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2023, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.

Contacts

Montrose
 Investor Relations:
 Rodny Nacier
 (949) 988-3383
 ir@montrose-env.com

Media Relations:
 Sarah Kaiser
 (225) 955-1702
 pr@montrose-env.com

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SOURCE Montrose Environmental Group, Inc.

FAQ

What regulations is Montrose Environmental Group (MEG) addressing in Colorado?

Montrose Environmental Group is addressing Colorado's HB21-1189 law, which requires covered facilities to conduct real-time air monitoring for benzene, hydrogen sulfide, and hydrogen cyanide, with data made publicly available.

How many facilities has Montrose Environmental Group (MEG) partnered with in Colorado for air monitoring?

Montrose Environmental Group has partnered with two of the four affected facilities in Colorado to install and operate fenceline air monitoring programs in compliance with HB21-1189.

What proprietary technology is Montrose Environmental Group (MEG) using for air monitoring in Colorado?

Montrose Environmental Group is using its proprietary Sensible EDP™ software to build and launch public-facing websites that display real-time air monitoring data for facilities in Colorado.

What are the key outcomes of Montrose Environmental Group's (MEG) air monitoring program in Colorado?

The key outcomes include a public-facing website displaying near real-time fenceline monitoring data at five-minute resolution and a public alert system via reverse 911 for pollutant concentration exceedances.