Will Continue to Manage Flue Gas Desulfurization Operations at Miami Fort Power Plant in Ohio Through Expected Plant Retirement in 2027
LOUISVILLE, KY / ACCESSWIRE / April 27, 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 7-year contract extension to provide operations and maintenance of the flue gas desulfurization (FGD) plant at Luminant's 1,020-megawatt Miami Fort Power Plant in North Bend, Ohio, through the plant's expected retirement in 2027. Charah Solutions has been onsite managing the plant's FGD operations since 2018.
"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 partners," said Scott Sewell, Charah Solutions President and CEO. "Many companies, like Luminant, are retiring their older generating assets while improving the environment. We have been proud to partner with Luminant on their sustainability efforts for many years and are delighted to extend our relationship at this site for the next 7 years."
At the Miami Fort Power Plant, Charah Solutions provides comprehensive operations and maintenance for FGD plant and processes, including limestone delivery management and unloading from barges, limestone crushing, gypsum dewatering, wastewater treatment, and gypsum loadout onto barges for beneficial use. 100 percent of the gypsum from the Miami Fort plant is beneficially used in the manufacturing of wallboard. High volume management techniques and close collaboration with plant management provide maximum value to the utility partner. Because of the sophisticated nature of FGD equipment coupled with Charah Solutions' deep experience with the unique handling characteristics of FGD material, Charah Solutions can provide the optimum program for plant operations and maintenance.
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 gypsum in drywall offers product benefits including fire resistance, sound control, versatility, quality, convenience and cost-effectiveness. In addition, it eliminates the need to for utilities to dispose of FGD material in landfills or ponds while reducing water and energy consumption and preserving natural resources.
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/.
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.
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.
SOURCE: Charah Solutions, Inc.
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