Facility Will Expand Charah Solutions’ Byproduct Sales Footprint Throughout Southern California
LOUISVILLE, KY (June 27, 2019) – 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 open a third facility using new patented grinding technologies to create supplementary cementitious materials (SCMs). This fully operational facility in Oxnard, California, approximately 60 miles outside of Los Angeles, will be accessible by truck and rail, and will sell pozzolan and other materials to concrete product manufacturers throughout Southern California.
“Charah Solutions is one of the leading fly ash sales and marketing companies in the country and we are proving that further with this new facility that will help stabilize the West Coast market with high-quality SCMs where availability has traditionally been inconsistent,” said Scott Sewell, President and CEO of Charah Solutions. “Oxnard is an ideal location for us to serve our concrete product customers throughout Southern California and along the West Coast. The opening of this additional facility represents an important step in our expansion nationwide.”
As part of Charah Solutions’ new patented grinding technology, grinding mills can be installed for a fraction of the cost of competing technologies and scaled up or down to meet market demands, serving customers in markets where the supply of fly ash, pozzolan or other SCMs is limited. The Company’s technology is more cost-effective, regardless of the volume of SCMs needed, and is designed to be flexible, with the ability to add production capacity as a market grows.
The new Oxnard facility is operated in partnership with Diversified Minerals, Inc. (DMI), a supplier and manufacturer of standard and custom blend cement and concrete products. The facility will receive natural pozzolan by truck and rail and then, using Charah Solutions’ patented grinding technology, manufacture pozzolan marketed under the brand MultiPozz™ pozzolan. MultiPozz pozzolan will be distributed throughout Charah Solutions’ MultiSource® materials network of more than 40 nationwide locations, with international sourcing and distribution, that provide ready mix concrete producers and other customers a continuous and reliable supply of SCMs, including quality fly ash and slag cement. MultiPozz pozzolan can be added in the production of concrete and cement and provides strength, durability, improved finish, and consistent performance in concrete.
According to Jim Price, CEO of Diversified Minerals, Inc., “Fly ash is becoming more difficult to source in California which is forcing the construction industry to look for viable alternatives. Natural pozzolan and other SCMs that meet ASTM specifications are generating very high interest. With Charah Solutions’ resources and DMI’s strategic partnership with the only active pozzolan mine in Southern California, we are both the closest and the first to bring these products to market.”
“This is great news for Los Angeles and surrounding markets where the supply of SCMs is greatly constrained,” said Scott Ziegler, Vice President of Byproduct Sales at Charah Solutions. “We now will be able to receive and deliver pozzolan by truck and rail consistently year-round without seasonality or outages, and we can easily scale and increase production as the market develops. The opening of this grinding and distribution facility represents a needed and creative solution to address market demand in California and expands our nationwide MultiSource network.”
Click here to see a complete map of Charah Solutions’ MultiSource® materials network locations.
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.
MultiSource is a registered trademark of Charah, LLC in the United States.
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.
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