Over 2 Million Tons of Ash from Retired Coal-Fired Power Plant Will Be
Beneficially Used in Concrete Industry
LOUISVILLE, KY (April 28, 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 recently was awarded a Closure by Removal (CBR) impoundment project by a Southeastern utility.
Charah Solutions will be responsible for the closure of approximately 100 acres of ash ponds located at a former coal-fired power station that was retired in 2015. The scope of work includes the installation of environmental controls, installation of new rail as well as improvements to existing rail infrastructure, and the construction of a large concrete loadout area.
Over the next several years as the closure of the ponds is under way, over 2 million tons of ash is expected to be beneficially used in the concrete industry. At the project’s conclusion, the former ash ponds will be restored as useable property.
“Charah Solutions has decades of proven experience and expertise to provide complex solutions for large ash pond closure projects and perform them safely, all while being a good neighbor to the local community and a responsible environmental steward,” said Scott Reschly, Charah Solutions Vice President of Quality & Technical Services. “We take pride in our ability to customize each coal ash impoundment project to suit the specific needs of the utility and ensure compliance with all EPA mandated regulations and deadlines.”
Scott Sewell, Charah Solutions President and CEO, added, “Charah Solutions is nationally recognized in the power generation industry as a total solutions company, providing unparalleled service and innovation to meet the changing needs of our utility partners. We are pleased to execute this major Closure by Removal project and beneficially use the ash to meet the demand of the cement industry.”
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 and slag 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.
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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