CANONSBURG,
Pa. , March 15, 2024 /PRNewswire/ -- CONSOL
Energy Inc. ("CONSOL Energy," NYSE: CEIX) is proud to announce the
release of its 2023 Corporate Sustainability Report, "Here Today
AND Tomorrow" and is available for download at
www.consolenergy.com/sustainability.
The report provides an update on the Company's
ongoing sustainability and operational initiatives focused on
innovating for the energy economy today and beyond during the
fiscal year ended December 31, 2023,
including:
- Achieving record free cash flow1 and our goal of
deriving more than 50% of revenue from non-power generation
sales.
- Maintaining an environmental compliance rate exceeding 99.9%,
for the 11th consecutive year;2
- Leveraging key partnerships to support CONSOL Energy's
stated greenhouse gas emissions reduction goals;
- Surpassing 1,000,000 safe working hours at the CONSOL
Marine Terminal;
- Achieving a Total Recordable Incident Rate (TRIR) that is 33%
better than MSHA Industry Averages;3
- Expanding CONSOL Innovations, a wholly owned subsidiary
focused on developing and commercializing advanced carbon-based
products and carbon management technologies;
- Acquiring the assets of Touchstone Advanced Composites (TAC),
an innovative composite tooling supplier for the aerospace
industry, specializing in producing tools from CFOAM carbon foam;
and
- Launching the Not So Fast public awareness campaign, advocating
for a more measured, analytical, and moral approach to our nation's
energy policies. We invite you to learn more
at theCOALhardtruth.com.
"2023 was an outstanding year for the
CONSOL Energy team, on multiple fronts. From record financial
performance to achievement of our revenue diversification goal, we
continue to demonstrate the flexibility of our operations and
product, as well as our ability to consistently create value. This
level of performance also catalyzes execution of our strategic
priorities, including continued investment in our sustainability,
technology, and innovation initiatives throughout the year," said
CONSOL Energy Chief Executive Officer, Jimmy Brock. "I am incredibly proud of our
team's commitment to continuous improvement, and I am excited to
share our positive vision for the future." The Company is confident
in its role as a responsible coal provider and a necessary part of
the energy mix today AND tomorrow.
About CONSOL Energy Inc.
CONSOL Energy Inc. (NYSE: CEIX) is a Canonsburg, Pennsylvania-based producer and
exporter of high-Btu bituminous thermal coal and metallurgical
coal. It owns and operates some of the most
productive longwall mining operations in the Northern
Appalachian Basin. CONSOL Energy's flagship operation is the
Pennsylvania Mining Complex, which has the capacity to produce
approximately 28.5 million tons of coal per year and is comprised
of 3 large-scale underground mines: Bailey Mine, Enlow Fork Mine,
and Harvey Mine. CONSOL Energy recently developed the Itmann Mine
in the Central Appalachian Basin, which has the capacity when fully
operational to produce roughly 900 thousand tons per annum of
premium, low-vol metallurgical coking coal. The company also owns
and operates the CONSOL Marine Terminal, which is located in
the port of Baltimore and has a
throughput capacity of approximately 20 million tons per year. In
addition to the ~584 million reserve tons associated with the
Pennsylvania Mining Complex and the ~ 28 million reserve tons
associated with the Itmann Mining Complex, the company also
controls approximately 1.3 billion tons of greenfield thermal and
metallurgical coal reserves and resources located in the major
coal-producing basins in the eastern United States. Additional information
regarding CONSOL Energy may be found at
www.consolenergy.com.
Contacts:
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Investor:
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Nathan Tucker, at (724)
416-8336
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nathantucker@consolenergy.com
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Media:
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Erica Fisher, at (724)
416-8292
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ericafisher@consolenergy.com
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Cautionary Statement Regarding Forward-Looking
Statements
Certain statements, estimates, and projections in
this press release are "forward-looking statements" within the
meaning of the federal securities laws and speak only as of the
date of this press release. While these forward-looking statements
reflect CEIX's expectations at the date of this press release, they
are not guarantees or predictions of future performance or
statements of fact. With the exception of historical matters, the
matters discussed in this press release are forward-looking
statements (as defined in Section 21E of the Securities Exchange
Act of 1934, as amended) that involve risks and uncertainties that
are unknown or out of our control and, therefore, could cause
actual results, performance, or achievements to differ materially
from results, goals and achievements projected in or implied by
such forward-looking statements. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction
of actual results. The forward-looking statements may include
projections and estimates concerning the timing and success of
specific short term and long term emission reduction targets, the
role of specific technologies in reducing carbon emissions, and
CEIX's role in contributing to global social and environmental
goals. When we use the words "anticipate," "believe," "could,"
"continue," "estimate," "expect," "intend," "may," "plan,"
"predict," "project," "should," "will," or their negatives, or
other similar expressions, the statements which include those words
are usually forward-looking statements. All statements other than
statements of historical facts included in this press release are
forward-looking statements. When we describe strategy that involves
risks or uncertainties, we are making forward-looking statements.
Past performance cannot be relied on as a guide to future
performance. We have based these forward-looking statements on our
current expectations and assumptions about future events. While our
management considers these expectations and assumptions to be
reasonable, they are inherently subject to significant business,
economic, competitive, regulatory and other risks, contingencies
and uncertainties, most of which are difficult to predict and many
of which are beyond our control. Specific risks, contingencies and
uncertainties include but are not limited to changes in laws and
regulations including international treaties and laws and
regulations regarding greenhouse gas emissions and carbon costs
actions, including changes with respect to tax policy, emissions
credits, carbon offsets and carbon pricing; trade patterns and the
development and enforcement of local, national and regional
mandates; unforeseen technical or operational difficulties; the
outcome of research efforts and future technology developments,
including the ability to scale projects and technologies on a
commercially competitive basis and our ability to take advantage of
those innovations and developments; the effectiveness of our risk
management strategies, including mitigating climate-related risks;
our ability to identify and execute opportunities, and the economic
viability of those opportunities, including those relating to
methane destruction; the ability of our existing assets and
expertise to support the growth of, and transition to, various
energy opportunities, including through the positioning and
optimization of our assets; our ability to efficiently reduce the
carbon output (both on an absolute scale and relative intensity) of
our operations (both Scope 1 and 2), including through the use of
lower carbon power alternatives, management practices and system
optimizations; the necessity to direct our focus on maintaining and
enhancing our existing assets; the impacts of acquisitions or
dispositions; changes in supply and demand and other market factors
affecting future prices of coal; changes in the relative energy mix
across activities and geographies; the actions of competitors;
changes in regional and global economic growth rates and consumer
preferences; the pace of regional and global recovery from the
COVID-19 pandemic and actions taken by governments and consumers
resulting from the pandemic; changes in population growth, economic
development or migration patterns; and other factors discussed in
this press release and in Item 1A of CEIX's Annual Report on
Form 10-K for 2023 and subsequent Quarterly Reports on Forms 10-Q.
The forward-looking statements in this press release speak only as
of the date of this press release and CEIX disclaims any intention
or obligation to update publicly or review any forward-looking
statements, whether in response to new information, future events,
or otherwise, except as required by applicable law. In this press
release, we refer to direct operating greenhouse gas emissions
(inclusive of Scope 1 and Scope 2 emissions). We note that the
direct operating greenhouse gas emissions does not refer to our
carbon emissions associated with the use of energy products we sell
(referred to as Scope 3 emissions). CEIX only controls its direct
operating emissions. We do not intend to suggest that CEIX is
addressing the emissions from use of its energy products in its net
zero plan.
_____________________________
1 "Free cash flow" is a non-GAAP financial measure.
Please refer to the "Reconciliation of Non-GAAP Financial Measures"
for the year ended December 31, 2023
in our February 6, 2024 press
release.
2 Compliance rate measured as the rate of compliance
with NPDES permit effluent limits.
3 Referring to TRIR for Coal Operations' employees.
Comparison to MSHA preliminary data, from January – September 2023.
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SOURCE CONSOL Energy Inc.