LOUISVILLE, KY (January 11, 2022) – Charah® Solutions, Inc. (NYSE: CHRA) (the “Company”), a leading provider of mission-critical environmental services and byproduct sales to the power generation industry, has received the Southern Company Technical & Project Solutions (T&PS) Triangle Safety Award for outstanding performance for work completed within the Southern Company system in 2020.
The coveted Triangle Safety Award is presented annually to recognize select contractors whose safety performance on Southern Company (NYSE: SO) projects meet exceptionally high standards including:
• Achieved top-quartile status for the Safety Through Everyone’s Participation (STEP) observation rate among Southern Company contractors AND maintained a minimum STEP observation rate of 5 observations per 1,000 work hours each month throughout the year for all work, including subcontracted work.
• Maintained 100-percent participation in project walk-downs and/or site assessments.
• Have zero open safety-related corrective action items and achieved top-quartile status for timeliness of corrective action completion.
• Have zero open safety nonconformance reports (SNCRs) and achieved top-quartile status of contractors with fewest SNCRs issued.
• Have not caused an outage or damage to Southern Company property in excess of $10,000.
• Contractor’s total work hours must exceed a minimum number in order to qualify for the award.
Charah Solutions is an industry-leader in safety excellence with a 2020 Total Recordable Incident Rate (TRIR) of 0.36 with no lost time or restricted time injuries and an impressive three-year average Experience Modification Rate (EMR) of less than 0.7.
In 2020, Charah Solutions performed work on four different Southern Company sites. One of the larger projects included an approximate 100-acre surface impoundment closure project. The multi-year scope of work includes the installation of new rail as well as improvements to existing rail infrastructure, and the construction of a large concrete loadout area.
In addition, over the next several years as the closure of the ponds is underway, approximately 2 million tons of ash from the site is anticipated to be beneficially used in the production of Portland Cement. Along with improving the finished concrete product quality, using fly ash in concrete products eliminates the need to dispose of fly ash in landfills. In 2020, Charah Solutions beneficiated and recycled 2.58 million tons of coal combustion residuals (CCRs), saving more than 2.24 million tons of CO2 from entering the atmosphere.
“We are honored to receive this prestigious award from the Southern Company in recognition of our team’s uncompromising commitment every single day to keep our workplaces and employees safe,” said Scott Sewell, President and CEO of Charah Solutions. “At Charah Solutions, Safety is a core value and integral to our culture. Congratulations to our project teams for this outstanding recognition.”
About Charah Solutions, Inc.
With 30 years of experience, Charah Solutions, Inc. is a leading provider of environmental services and byproduct sales to the power generation industry. Based in Louisville, Kentucky, Charah Solutions assists utilities and independent power producers with all aspects to sustainably manage and recycle ash byproducts generated from the combustion of coal in the production of electricity. 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 https://charah.com/ or download our 2020 Environmental, Social and Governance (ESG) Report at www.charah.com/sustainability.
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. See the Company’s Form 10-K for the fiscal year ended December 31, 2020 and other periodic reports as filed with the Securities and Exchange Commission for further information regarding risk factors.
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.