Clean Earth and Veolia North America Sign First-of-its-Kind Hazardous Waste Treatment Agreement

Rhea-AI Summary

Clean Earth, a division of Enviri Corporation (NYSE: NVRI), has partnered with Veolia North America on a five-year agreement to provide guaranteed incineration capacity in a new state-of-the-art waste treatment facility in Gum Springs, Ark. The agreement offers reliable, predictable, safe, and efficient waste disposal for Clean Earth customers. Veolia's new facility will be powered by local decarbonizing energy generated directly on-site, North America's first for a hazardous waste plant. The partnership aims to address the growing demand for safe, sustainable management of complex waste streams, providing a more sustainable option for the marketplace and benefiting consumers and the public.

Positive

• Partnership with Veolia North America for guaranteed incineration capacity
• Reliable, predictable, safe, and efficient waste disposal for Clean Earth customers
• Veolia's new facility powered by local decarbonizing energy
• Addressing the growing demand for safe, sustainable waste management
• Creating a more sustainable option for the marketplace and benefiting consumers and the public

Negative

• None.

Market Research Analyst

The strategic partnership between Clean Earth and Veolia North America underscores a significant development in the waste management sector. The guaranteed incineration capacity through this five-year agreement indicates a proactive response to growing demand for waste treatment solutions, particularly in the context of North America's manufacturing and research resurgence. This move is expected to enhance service reliability for Clean Earth's customer base, potentially leading to increased customer satisfaction and retention.

From a market perspective, the partnership could serve as a competitive differentiator, positioning Clean Earth favorably against rivals. The focus on sustainable energy use within the facility, including decarbonizing energy sources and on-site solar power generation, aligns with the increasing consumer and regulatory demand for environmentally responsible practices. This could improve the company's public image and possibly lead to premium pricing opportunities.

Environmental Sustainability Expert

The integration of local decarbonizing energy and the plan to reforest nearly 1,500 acres around Veolia's new facility is a noteworthy example of corporate environmental responsibility. The use of waste heat recovery and solar power to generate energy for the plant represents a shift towards sustainable operations, which is vital in an industry often scrutinized for its environmental impact. This initiative not only reduces the carbon footprint of the facility but also sets a precedent for future waste management projects.

Additionally, the environmental benefits extend beyond the facility's operations. The carbon sequestration from the reforestation plan and protection of local habitats signify broader ecological contributions. These efforts could lead to improved regulatory relations and may serve as a model for sustainability in the waste management industry, potentially influencing future environmental policies.

Financial Analyst

The announcement of this partnership could have implications for the financial performance of both Clean Earth and Veolia North America. Investors should note the potential for improved operational efficiencies and cost savings from the guaranteed incineration capacity. The forward-looking nature of the agreement suggests that both companies are anticipating and preparing for increased waste treatment demand, which could translate into steady revenue streams over the next five years.

Moreover, the investment in sustainable energy and reforestation may qualify for environmental credits or tax benefits, which can positively affect the companies' financials. The market will likely monitor the ramp-up of waste treatment access throughout 2024 and the transition in 2025 closely, as these milestones could serve as indicators of the partnership's operational success and financial impact.

•  Clean Earth will partner with Veolia North America on a five-year agreement to provide guaranteed incineration capacity in a new state-of-the-art waste treatment facility in Gum Springs, Ark.
• The agreement provides reliable, predictable, safe, and efficient waste disposal for Clean Earth customers.
• Technology at Veolia North America’s new facility offers treatment of environmental, household, and industrial waste.

KING OF PRUSSIA, Pa. & BOSTON--(BUSINESS WIRE)-- Clean Earth, a division of Enviri Corporation (NYSE: NVRI), and Veolia North America, have executed a long-term collaborative agreement for significant incineration capacity at the new state-of-the-art thermal facility in Southwest Arkansas. The five-year agreement, structured to provide guaranteed access for Clean Earth by Veolia, is a first-of-its-kind in the industry and a positive advancement for the waste management industry and customers as the new facility, opening in 2025, will provide much-needed additional capacity.

“This unique agreement solves some of the constraints that have challenged the industry in the past several years,” said Jeff Beswick, President of Clean Earth. “We are pleased to partner with Veolia on an initiative that will benefit our customers and the nation.”

Fred Van Heems, Veolia North America’s President and CEO, said, “Demand is growing across the U.S. for the safe, sustainable management of complex waste streams from the resurgent growth of research and manufacturing in North America. In addition, the facility will provide needed capacity to support contaminants of emerging concern. This agreement provides a solution for the gap in the industry. We have a long-standing relationship with Clean Earth, and we are pleased to work together to solve some of the country’s most difficult environmental challenges at our new facility.”

Veolia’s new facility will be powered by local decarbonizing energy generated directly on-site, North America’s first for a hazardous waste plant. The power will be supplied by capturing waste heat recovered from a boiler and steam turbine and generating five megawatts of on-site solar power per hour, creating a more sustainable option for the marketplace and benefiting consumers and the public. A plan to reforest nearly 1,500 acres surrounding the property will sequester carbon emissions, provide protection for local habitat, and prevent erosion.

Veolia North America will increase waste treatment access for Clean Earth throughout 2024 to ramp up activities for a smooth transition in 2025.

About Clean Earth

Clean Earth's vision is to create a better future for our people, partners, and planet by turning specialty waste into recycling opportunities. Clean Earth is one of the largest specialty waste companies in the United States providing remediation, disposal, recycling, and beneficial reuse solutions for hazardous and non-hazardous waste and contaminated materials. Headquartered in King of Prussia, Pennsylvania, it operates a network of 91 locations across the United States. As a leader in the industry, Clean Earth has the experience and capabilities to provide efficient, effective hazardous and non-hazardous waste recycling and disposal solutions and the business’ ReSolve™ program carries a valuable toolbox of customizable solutions to manage and treat unique per- and poly-fluoroalkyl (PFAS) challenges. Clean Earth’s portfolio of technologies and services touches nearly every industry that generates waste, including energy, infrastructure, commercial, industrial, retail, and healthcare markets. To learn more, visit www.cleanearthinc.com.

About Veolia North America

A subsidiary of Veolia group, Veolia North America (VNA) offers a full spectrum of water, waste, and energy management services, including water and wastewater treatment, commercial and hazardous waste collection and disposal, energy consulting and resource recovery. VNA helps commercial, industrial, healthcare, higher education, and municipality customers throughout North America. Headquartered in Boston, Mass., Veolia North America has more than 10,000 employees working at more than 350 locations across the continent. www.veolianorthamerica.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240125023718/en/

Clean Earth

Maddie Terefenko

445.448.1570

mterefenko@enviri.com

Veolia North America

Carrie Griffiths

781.491.3117

carrie.griffiths@veolia.com

Source: Veolia North America and Clean Earth

FAQ

What is the partnership between Clean Earth and Veolia North America about?

The partnership is about providing guaranteed incineration capacity in a new state-of-the-art waste treatment facility in Gum Springs, Ark.

What is the ticker symbol for Clean Earth's parent company?

The ticker symbol for Clean Earth's parent company, Enviri Corporation, is NVRI.

What kind of waste will Veolia North America's new facility treat?

Veolia's new facility offers treatment of environmental, household, and industrial waste.

What is powering Veolia's new facility?

Veolia's new facility will be powered by local decarbonizing energy generated directly on-site, North America's first for a hazardous waste plant.

What is the main goal of the partnership between Clean Earth and Veolia North America?

The main goal is to address the growing demand for safe, sustainable management of complex waste streams, providing a more sustainable option for the marketplace and benefiting consumers and the public.