Charah Solutions (NYSE:CHRA)
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2 Months : From Feb 2020 to Apr 2020
Over 2 Million Tons of Ash from Three Entergy Plants Will Be Marketed for Beneficial Use in Concrete Industry
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 large-scale, multi-year ash marketing and landfill operations contract for utility companies owned by Entergy Corporation at three plants in Arkansas and Louisiana. Entergy Corporation (NYSE: ETR), an integrated energy company engaged primarily in electric power production and retail distribution operations, delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas.
As part of this agreement, Charah Solutions will be responsible for marketing fly ash and bottom ash from Entergy Louisiana’s Nelson Power Plant in Westlake, Louisiana; Entergy Arkansas Independence Power Plant in Newark, Arkansas; and Entergy Arkansas White Bluff Power Plant in Redfield, Arkansas. Over the next five years, the combined scope of work is anticipated to include over 2 million tons of fly and bottom ash sales for beneficial use, transported via truck and railcar to regional markets to supply the growing demand for concrete in the construction industry. These coal combustion products (CCPs) will be distributed throughout Charah Solutions’ MultiSource® materials network of more than 40 nationwide locations, with international sourcing and distribution. The MultiSource materials network is a unique distribution system which provides a continuous and reliable supply of supplementary cementitious materials (SCMs) for ready mix concrete producers and other customers.
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 Charah Solutions core value 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.
In addition, Charah Solutions will be responsible for onsite landfill operations and disposal of over 900,000 tons of unsold coal combustion residuals (CCRs). The scope of work also includes activities involved in the landfill maintenance work such as erosion and sediment control, active landfill maintenance, landfill cover maintenance, record keeping, mowing, dust control and overall site maintenance.
According to Scott Sewell, Charah Solutions President and CEO, “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. This is a great example of our unique ability to bundle our service offerings for utilities, providing both CCP and CCR solutions simultaneously.”
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 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.
About Entergy Corporation
Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of $11 billion and approximately 13,500 employees. Additional information is available at entergy.com.
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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