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Charah Solutions (NYSE:CHRA) has secured a five-year contract for the recycling and sale of fly ash from the Gen. James M. Gavin Power Plant in Ohio. This contract involves the recycling of 35,000 to 60,000 tons of Class F fly ash annually, addressing the growing demand in the ready-mix concrete market. The fly ash will be distributed via Charah's MultiSource network, promoting sustainability by reducing landfill waste and CO2 emissions. In 2020, Charah recycled 2.58 million tons of coal combustion residuals, saving 2.24 million tons of CO2.
Charah Solutions (NYSE:CHRA) announced the closing of its public offering of senior unsecured notes due 2026, totaling $135 million. The offering was increased by $5 million following the underwriters' option to purchase additional notes. The notes will bear an interest rate of 8.50% per year and are intended to repay the company's credit facility and fund general corporate purposes. The company aims to list the notes on the NYSE under the symbol CHRB.
Charah Solutions (NYSE:CHRA) has priced its public offering of 8.50% senior notes due 2026, raising approximately $130.3 million in net proceeds. An additional $5 million of notes was purchased via the underwriters' option. The proceeds will be used to repay the company's credit facility and fund general corporate purposes, including acquisitions and working capital. The notes will be listed on the NYSE under the symbol CHRB. The issuance has a rating of B from Egan-Jones Ratings Company, and trading is expected to commence within 30 days after issuance.
Charah Solutions, Inc. (NYSE:CHRA) has announced a public offering of $130 million in 8.50% senior notes due 2026. The proceeds will be used to repay its credit facility and for general corporate purposes, including acquisitions, repaying debt, and working capital. The notes will be issued in minimum denominations of $25.00 and are expected to list on the NYSE under the symbol 'CHRB'. The offering has received a B rating from Egan-Jones Ratings Company.
Charah Solutions (CHRA) reported a net loss of $6.5 million for Q2 2021, with revenues of $63.5 million, up 21.4% from Q2 2020. Year-to-date, new business awards reached $685 million, surpassing prior records and indicating strong revenue visibility for 2021 and 2022. Adjusted EBITDA improved to $6.5 million. The company reaffirmed its full-year guidance of $260 million to $300 million in revenue and expects continued growth. Recent credit facility amendments provide temporary financial flexibility. Challenges include potential disruptions from COVID-19 and adverse weather events.
Charah Solutions (NYSE:CHRA) has announced a conference call scheduled for August 10, 2021, at 8:30 a.m. ET to discuss its second quarter 2021 financial results. Participants can register via the provided link. A replay of the call will also be accessible on the Investor Relations section of their website after the event. With 30 years in the industry, Charah Solutions provides environmental services for power generation, focusing on sustainable management of ash byproducts and reducing greenhouse gas emissions.
Charah Solutions (NYSE:CHRA) announced the appointment of Timothy Alan Simon as a Class II Director on its Board of Directors. Simon, a former Commissioner Emeritus of the California Public Utilities Commission, brings over 40 years of experience in government regulation and utilities. His role is expected to add significant value as Charah Solutions enhances its services in the power generation sector, focusing on environmental stewardship and efficiency.
Charah Solutions (NYSE:CHRA) has announced the acquisition of the Avon Lake Generating Station from GenOn, a significant step in environmental remediation and sustainable redevelopment. The 627 MW coal-fired plant, located in Avon Lake, Ohio, will transition to remediation efforts post-closure in April 2022. Charah's subsidiary, Avon Lake Environmental Redevelopment Group, LLC, will oversee the project aimed at creating economic benefits and improving environmental conditions. This initiative aligns with Charah's 30-year commitment to sustainability in the utility sector.
Charah Solutions (CHRA) reported a net loss of $3.5 million for Q1 2021, a significant improvement from $14.4 million in Q1 2020. Revenue rose by 1.6% to $52.1 million, driven by remediation services despite a decline in byproduct sales due to decreased demand linked to the COVID-19 pandemic. The company secured $527 million in new business awards so far in 2021 and completed the acquisition of the Gibbons Creek facility, expanding its environmental services capacity. Adjusted EBITDA surged to $9.5 million, marking a 562% increase year-over-year.
Charah Solutions (NYSE:CHRA) has scheduled a conference call for May 13, 2021, at 8:30 a.m. ET to discuss its Q1 2021 financial results. Interested participants can register using a provided link with conference ID 5895303. A replay will be made available post-call on the Investor Relations section of the Charah Solutions website. The company specializes in environmental services and byproduct sales for the power generation sector, managing coal combustion byproducts and focusing on sustainable solutions.