MORRISTOWN, N.J., Jan. 7, 2019 /PRNewswire/ -- Covanta Holding
Corporation (NYSE: CVA) ("Covanta"), a world leader in sustainable
waste management and renewable energy, today announced that it has
commenced construction of its first Total Ash Processing System
("TAPS"), with operational start-up expected in the second half of
2019. Located in Fairless Hills,
Pennsylvania, adjacent to Covanta's existing metals
processing facility, the first TAPS plant is designed to process
over 400,000 tons of ash from multiple Covanta Energy-from-Waste
("EfW") facilities, recovering previously untapped value from these
waste streams.
TAPS is a unique technology that separates the combined ash from
EfW facilities into its component parts. This enables increased
recovery of small metal fractions and the recovery of aggregate for
reuse as construction material, reducing the volume of ash
requiring landfill disposal by as much as 65 percent.
"We have long viewed ash reuse as a major opportunity to enhance
our EfW plant operations while simultaneously opening new markets,"
said Covanta's President and Chief Executive Officer, Stephen J. Jones. "TAPS has tremendous potential
to increase the sustainability and economics of our facilities,
while generating an attractive return on capital invested in the
system. I am excited about this first project and look forward to
its success, which we see paving the way for additional TAPS
facilities to complement our EfW portfolio."
About Covanta
Covanta is a world leader in providing
sustainable waste and energy solutions. Annually, Covanta's modern
Energy-from-Waste facilities safely convert approximately 22
million tons of waste from municipalities and businesses into
clean, renewable electricity to power one million homes and recycle
over 600,000 tons of metal. Through a vast network of treatment and
recycling facilities, Covanta also provides comprehensive
industrial material management services to companies seeking
solutions to some of today's most complex environmental challenges.
For more information, visit covanta.com.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this press release may constitute
"forward-looking" statements as defined in Section 27A of the
Securities Act of 1933 (the "Securities Act"), Section 21E of the
Securities Exchange Act of 1934 (the "Exchange Act"), the Private
Securities Litigation Reform Act of 1995 (the "PSLRA") or in
releases made by the Securities and Exchange
Commission ("SEC"), all as may be amended from time to time.
Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the
actual results, performance or achievements of Covanta Holding
Corporation, its subsidiaries and joint ventures or industry
results, to differ materially from any future results, performance
or achievements expressed or implied by such forward-looking
statements. Statements that are not historical fact are
forward-looking statements. For additional information see
the Cautionary Note Regarding Forward-Looking Statements in the
Company's 10-K, previously filed with the Securities and
Exchange Commission.
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SOURCE Covanta Holding Corporation