Will Provide Turnkey Environmental Liability Transfer Services to Repurpose
Former B.C. Cobb Ash Ponds
LOUISVILLE, KY (April 20, 2020) – Charah® Solutions, Inc. (NYSE: CHRA) (the “Company”), a leading provider of environmental and maintenance services to the power generation industry, today announced that it will close the B.C. Cobb Generating Facility’s Ash Ponds previously owned by Consumers Energy and repurpose them as natural wetlands.
As part of this agreement, Charah Solutions, through its subsidiary Muskegon Environmental Redevelopment Group, LLC, will take ownership of the ash ponds during the closure process at Consumers Energy’s former B.C. Cobb Generating Facility site in Muskegon, Michigan. The coal combustion residuals (CCR) materials will be excavated and beneficially reused as necessary fill material in Consumers Energy’s licensed J.C. Weadock landfill in Essexville, Michigan, located at the former J.C. Weadock Generating Station site. The coal-fired power plants, along with the J.R. Whiting Plant in Luna Pier, Michigan, were retired in April 2016. Retiring the combined seven generating units is part of Consumers Energy’s focus on developing more renewable forms of electric generation and its goal of being net carbon neutral by 2040.
As a sustainability leader in utility services for over 30 years, Charah Solutions is dedicated to preserving natural resources in an environmentally conscious manner through projects like this with Consumers Energy. Sustainability is a Charah Solutions core value, and the company focuses its business on developing innovative solutions to complex environmental issues for the betterment of the planet, the communities in which it operates and its customers.
According to Scott Sewell, Charah Solutions President and CEO, “Our Environmental Liability Transfer services represent an innovative solution designed to meet the evolving and increasingly complex needs of our utility partners. Many customers like Consumers Energy are now experiencing an increased need to retire and decommission older, un-utilized, or less economically viable generating assets while maximizing the value of the assets and improving the environment. By offering one-stop services, Charah Solutions can effectively manage the environmental aspects and safely close and enhance the site for the benefit of the community, all while substantially lowering the cost for the utility.”
As part of the Environmental Liability Transfer Services, Charah Solutions reviews each site’s particular closure challenges followed by a turnkey proposal that includes a closure plan and a repurposing plan for the property. Upon completion of this specific major remediation and reclamation project, the B.C. Cobb Bottom Ash Ponds will be returned to natural wetland areas.
“We are pleased to work with Charah Solutions, a proven leader in environmental and maintenance services to the utility industry, to safely beneficially reuse the material and return the ponds to natural wetland areas,” said Dennis Dobbs, Consumers Energy Vice President of Enterprise Project Management, Environmental & Services. “This innovative project reduces the environmental risk and costs for Consumers Energy and its customers while protecting and enhancing the environment.”
Charah Solutions’ work at the B.C. Cobb site comes after another company’s successful demolition of the plant powerhouse and related structures during a similar environmental liability transfer project that took place over the last two years.
“This project is a great example of Consumers Energy’s ongoing focus on our Triple Bottom Line of People, Planet and Prosperity and leaving it better than we found it,” Dobbs said.
Equipment mobilization and construction for the B.C. Cobb ponds is expected to start in April 2020 and is permitted within Michigan Gov. Gretchen Whitmer’s COVID-19 executive orders. Onsite dewatering, excavation, and transportation will begin in Q3 2020 through the end of 2021. State approval of the final pond closure is targeted as soon as early 2022, in advance of the Federal CCR Rule compliance deadline which requires pond closure by March 2023.
About Charah Solutions, Inc.
With 30 years of experience, Charah® Solutions, Inc. is a leading provider of environmental and maintenance services to the power generation industry, with operations in fossil fuel and nuclear power generation sites across the country. Based in Louisville, Kentucky, Charah Solutions assists utilities with all aspects of managing and recycling ash byproducts generated from the combustion of coal in the production of electricity as well as routine power plant maintenance and outage services for the fossil fuel and nuclear power generation industry. The Company also designs and implements solutions for ash pond management and closure, landfill construction, fly ash sales, and structural fill projects. Charah Solutions is the partner of choice for solving customers’ most complex environmental challenges, and as an industry leader in quality, safety, and compliance, the Company is committed to reducing greenhouse gas emissions for a cleaner energy future. For more information, please visit www.charah.com.
About Consumers Energy
Consumers Energy, Michigan’s largest energy provider, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and/or electricity to 6.7 million of the state’s 10 million residents in all 68 Lower Peninsula counties. For more information, please visit www.consumersenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. These statements are based on certain assumptions made by the Company based on management’s experience and perception of historical trends, current conditions, anticipated future developments, and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
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Investor Contact
Roger Shannon
Charah Solutions
(502) 245-1353
[email protected]
Media Contacts
Keaton Price
Charah Solutions
(502) 593-4692
[email protected]
Roger Morgenstern
Consumers Energy
(517) 499-6320
[email protected]
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