Casella Waste Systems, Inc. Further Expands Its Clean Energy Platform: Opens 4.8 Megawatt Gas-to-Energy Facility at Clinton Coun
October 23 2008 - 9:23AM
Marketwired
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste,
recycling and resource management services company, announced today
that operations at its Clinton County landfill gas-to-energy plant,
producing clean energy from landfill methane gas, began ahead of
schedule. This facility is the company's fifth landfill
gas-to-energy project.
The new landfill gas-to-energy plant, located at the company's
Clinton County landfill in Morrisonville, NY, is expected to
produce 4.8 megawatts per hour of clean energy, or enough renewable
electricity to power over 5,000 households.
Beyond producing clean energy, the facility, as part of the
company's low-emission landfill model, will reduce carbon dioxide
equivalents -- "greenhouse gases" -- by eliminating landfill
methane emissions and displacing the use of fossil fuel with
renewable energy. In total, the emissions savings are equivalent to
taking approximately 40,000 cars off the roads each year. The
Clinton County facility is expected to produce clean energy for
well over 30 years.
"As with the Hyland facility two weeks ago, our team did an
excellent job bringing the Clinton County facility on-line ahead of
our fiscal year plan," John W. Casella, chairman and chief
executive officer of Casella Waste Systems, said. "With our
resource transformation business strategy, we are constantly
seeking opportunities to leverage our existing assets as well as
traditional waste streams to create incremental revenues. Creating
clean energy from landfill methane gas builds additional economic
value from the waste stream."
"Investments in resource transformation solutions, such as
landfill gas-to-energy facilities, position the company to take
advantage of significant economic, environmental policy and
cultural shifts by pursuing opportunities that create both economic
and environmental value from waste," said Casella.
Casella and its partners are now producing roughly 25 megawatts
per hour of clean energy at five of the company's landfills. This
clean energy is powering roughly 25,000 homes and the emissions
savings are equivalent to taking over 205,000 cars off the roads
each year.
The company recently began producing clean energy at its Hyland
landfill gas-to-energy facility during the second quarter of fiscal
year 2009 and at its Pine Tree landfill gas-to-energy facility
during the first quarter of fiscal year 2009. The company expects
operations to begin at its Southbridge landfill gas-to-energy
facility during the first half of fiscal year 2010. When the
Southbridge facility comes on-line, the company and its partners
expect to produce approximately 28 megawatts per hour of clean
electricity at six landfill gas-to-energy facilities.
About Casella Waste Systems, Inc.
Casella Waste Systems is an integrated solid waste and resource
management company headquartered in Rutland, Vermont. In addition
to providing traditional solid waste collection, transfer and
disposal services, the company renews the life-cycle of materials
at its 37 recycling facilities, and generates clean energy at its
five landfill gas-to-energy facilities. It is the only solid waste
services company participating in the U.S. Environmental Protection
Agency's Climate Leaders program to reduce greenhouse gases. For
further information, investors should contact Ned Coletta, director
of investor relations at (802) 772-2239; media should contact
Joseph Fusco, vice president at (802) 772-2247; or visit the
company's website at http://www.casella.com.
Safe Harbor Statement
Certain matters discussed in this press release are
"forward-looking statements" intended to qualify for the safe
harbors from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
generally be identified as such by the context of the statements,
including words such as the company "believes," "expects,"
"anticipates," "plans," "may," "will," "would," "intends,"
"estimates" and other similar expressions, whether in the negative
or affirmative. These forward-looking statements are based on
current expectations, estimates, forecasts and projections about
the industry and markets in which we operate and management's
beliefs and assumptions. We cannot guarantee that we actually will
achieve the plans, intentions or expectations disclosed in the
forward-looking statements made. Such forward-looking statements,
and all phases of our operations, involve a number of risks and
uncertainties, any one or more of which could cause actual results
to differ materially from those described in our forward-looking
statements. Such risks and uncertainties include or relate to,
among other things: our landfill gas-to-energy facility might not
perform as expected, including with respect to power generation or
reduced emissions; we may be unable to reduce costs or increase
revenues sufficiently to achieve estimated EBITDA and other
targets; landfill operations and permit status may be affected by
factors outside our control, continuing weakness in general
economic conditions and poor weather conditions may affect our
revenues; we may be required to incur capital expenditures in
excess of our estimates; and fluctuations in the commodity pricing
of our recyclables may make it more difficult for us to predict our
results of operations or meet our estimates. There are a number of
other important risks and uncertainties that could cause our actual
results to differ materially from those indicated by such
forward-looking statements. These additional risks and
uncertainties include, without limitation, those detailed in Item
1A, "Risk Factors" in our Form 10-K for the year ended April 30,
2008. We do not necessarily intend to update publicly any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
Investors Contact: Ned Coletta Director of Investor Relations
(802) 772-2239 Media Contact: Joseph Fusco Vice President (802)
772-2247 http://www.casella.com
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