SPX4,122.47-17.59 -0.42%
DIA327.91-0.51 -0.16%
IXIC12,493.93-150.53 -1.19%

Charah Solutions Awarded 9-Year Multi-Pond Ash Pond Excavation Contract From Long-Term Southeastern Utility Partner

Charah® Solutions, Inc. (NYSE:CHRA) ("Charah Solutions" or the "Company"), a leading provider of environmental services and byproduct recycling to the power generation industry, today announced

Benzinga · 07/28/2022 06:55

Charah® Solutions, Inc. (NYSE:CHRA) ("Charah Solutions" or the "Company"), a leading provider of environmental services and byproduct recycling to the power generation industry, today announced that it has been awarded a multi-pond ash pond excavation contract from a long-term southeastern utility partner. The project, which is one of the largest and longest in duration in Company history, is scheduled to start in Q3 2022 and is expected to take approximately 9 years to complete.

Charah Solutions' Remediation & Compliance Services at the site will include the excavation of approximately 4.3 million cubic yards of coal combustion residuals (CCRs) from three ash basins to facilitate future pond closures. An estimated 3.9 million cubic yards, or 90% of the total CCRs removed, will be earmarked for beneficiation and eventual recycling into the concrete industry serving as a sustainable replacement for Portland cement. The remaining 430,000 cubic yards of comingled CCR and soil materials will be excavated for off-site disposal into lined landfill facilities. Charah Solutions' Remediation & Compliance work on this long-term project will incorporate geotechnical engineering, global stability analysis, engineered design excavation, water management, and site infrastructure development.

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 pond reclamation, ash recycling and ash marketing projects. Sustainability is a core value at Charah Solutions and the Company's business is focused on developing innovative solutions to complex environmental issues for the betterment of the planet, the communities in which it operates and its customers.

"Charah Solutions has decades of proven experience and expertise to handle every regulatory, engineering and technical issue related to CCR ash pond management, excavation, and eventual final closure," said Scott Sewell, Charah Solutions President and CEO. "We are delighted to work with our long-term utility partner to meet their specific needs for this multi-pond ash excavation project. This ash pond remediation project is one of the largest and longest in duration in Charah Solutions' 35-year history, and it is further evidence of the trust that our partners place in us to help them address their environmental challenges. We are honored to be awarded this long-term project," concluded Mr. Sewell.