Additional 3-Year Extension Will Provide Landfill and Ash Pond Management and Material Handling Operations to Miami Fort and Zimmer Power Plants in Ohio of Approximately 180,000 Tons of Ash Annually
Approximately 400,000 Tons of Fly Ash Per Year from Both Sites Will be Recycled and Sold for Beneficial Use in Portland Cement
LOUISVILLE, KY / ACCESSWIRE / April 22, 2021 / Charah® Solutions, Inc. (NYSE:CHRA) (the "Company"), a leading provider of mission-critical environmental services and byproduct sales to the power generation industry, today announced that it has been awarded a three-year contract extension with Luminant. Charah Solutions will now provide fly ash sales and material handling operations for Luminant's Miami Fort Power Plant and Zimmer Power Plant in southern Ohio through 2027, when both plants are expected to be retired.
Charah Solutions will continue to manage the onsite landfill and impoundment operations under its existing contract with Luminant, including material loading, hauling and disposal of approximately 180,000 tons of ash annually from both plants for an additional three years through 2027. In addition, Charah Solutions will be responsible for the beneficiation and utilization of approximately 400,000 tons of fly ash each year. The Company has the right to sell and market 100% of the high quality, specification grade Class F fly ash from both power plants for beneficial use via the Company's MultiSource® materials network. Utilizing its nationwide truck, rail and barge shipping platform, Charah Solutions recycles and markets the fly ash to concrete product manufacturers and ready-mix concrete producers throughout Ohio, Kentucky, Indiana, Pennsylvania, New Jersey, New York, Connecticut, North Carolina, Florida, Mississippi, Louisiana and Oklahoma, providing customers with multiple supply options of high-quality fly ash.
Charah Solutions' MultiSource materials network is a unique distribution system of more than 40 locations nationwide, with complimentary international sourcing and distribution, which ensures the Company's ability to provide a continuous and reliable supply of supplementary cementitious materials for ready mix concrete producers, cement producers and other customers throughout the U.S.
As a sustainability leader in utility services for over 30 years, Charah Solutions is dedicated to preserving our natural resources in an environmentally conscious manner through ash marketing projects. Sustainability is a core value at Charah Solutions, and our business is focused on developing innovative solutions to complex environmental issues for the betterment of the planet, the communities in which we operate and our customers. The beneficial use of fly ash in concrete products offers benefits in both the hardened and plastic state of concrete. In addition to improving the finish product quality, using fly ash in concrete products and other applications not only eliminates the need to dispose of fly ash in landfills it also significantly reduces the overall carbon footprint and conserves our natural resources by replacing materials that would otherwise have to be mined and processed for these products.
With the increasing focus on CO2 emissions and reduction of greenhouse gasses, more states, regulatory authorities and concrete producers are realizing the environmental benefit of substituting fly ash for Portland cement. Utilizing recycled fly ash as a substitute for energy-intensive Portland cement results in a reduction of CO2 emissions. Recycled fly ash also results in cost savings versus Portland cement for ready-mix producers.
Miami Fort Power Plant is a 1,020-megawatt coal-fired power plant located in North Bend, Ohio, while Zimmer Power Plant has a capacity of 1,300 megawatts and is located in Moscow, Ohio.
According to Scott Sewell, Charah Solutions President and CEO, "We have been proud to partner with Luminant on its sustainability efforts for many years and are delighted to extend our relationship at these Ohio sites through 2027. We have dramatically reduced the need to landfill fly ash at Miami Fort and Zimmer through our ongoing partnership, saving Luminant both expense and valuable landfill space while lowering their risk. Charah Solutions is nationally recognized in the power generation industry as a total solutions company, providing unparalleled service and innovation to meet the evolving and increasingly complex needs of our utility partners. As a result of this expanded agreement, Charah Solutions will continue to provide a reliable supply of high-quality fly ash to ready mix concrete producers in the Midwest, Northeast and deep South through our 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 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, please visit https://charah.com/.
MultiSource is a trademark of Charah, LLC. in the United States.
About Luminant
Luminant, a subsidiary of Vistra (NYSE:VST), is a competitive power generation business, including mining, wholesale marketing and trading, and development operations. Luminant has approximately 39,000 megawatts of generation across 12 states, powered by a diverse portfolio of natural gas, nuclear, coal, solar, and battery storage facilities. The company operates in six of the seven competitive markets in the U.S. Vistra is a premier, integrated power company based in Texas, combining an innovative, customer-centric approach to retail with a focus on safe, reliable, diverse, and efficient power generation. Visit luminant.com and vistracorp.com for additional information.
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. 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.
Investor Contact:
Roger Shannon
Charah Solutions
(502) 245-1353
ir@charah.com
Media Contact:
Keaton Price
Charah Solutions
(502) 593-4692
media@charah.com
SOURCE: Charah Solutions, Inc.
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