Latest news with #ResourceConservationandRecoveryAct
Yahoo
23-05-2025
- General
- Yahoo
Alabama Power threatened with lawsuit for contaminating groundwater with coal ash
A covered coal ash pond sits adjacent to the Coosa River in Gadsden, Ala. (Courtesy of Coosa Riverkeeper) This article originally appeared on Inside Climate News, a nonprofit, non-partisan news organization that covers climate, energy and the environment. Sign up for their newsletter here. GADSDEN, Ala.—Cruising upstream on the Coosa River through downtown Gadsden, it would be easy to miss the old coal ash pond sitting on the north bank of the river. It's mostly hidden by trees and bushes, except for a narrow opening with an aging chain-link fence and a 'no trespassing' sign. Even from the air, the green synthetic liner that covers 65 years' worth of coal combustion residuals looks like an extension of the Twin Bridges Golf Club that borders the pond to the west. 'There are people that boat by this all the time and have no idea what it is,' Coosa Riverkeeper Justinn Overton said as the boat idled in the channel. 'Because it just looks like it's an extension off the golf course, or nothing to be concerned about. It doesn't look like it's the leftover waste from the coal-fired power plant.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX Alabama Power's Gadsden Steam Plant was demolished last year after 109 years on the river, but the unlined coal ash pond remains, and, according to the Coosa Riverkeeper, continues to leech potentially harmful substances like arsenic, boron, chromium and cobalt into the groundwater. Now, Coosa Riverkeeper has filed a formal notice of intent to sue Alabama Power over the groundwater pollution from the old pond, based on groundwater testing results that Alabama Power is required to post twice per year. The Riverkeeper, represented by the Southern Environmental Law Center, says it will file a lawsuit under the Resource Conservation and Recovery Act (RCRA) and the U.S. Environmental Protection Agency's Coal Combustion Residuals (CCR) Rule, which regulates coal ash disposal. Such lawsuits require a formal notice at least 60 days before filing. 'Alabama Power has zero excuses for leaving its leaking waste dump in the middle of the commercial riverfront area of Gadsden and exposing the community to this hazard,' Barry Brock, director of SELC's Alabama office, said in a news release announcing the move. 'Other utilities across the South are cleaning up unlined coal ash dumps and moving waste to safer storage away from our waterways. Alabama Power must do the same in Gadsden.' Alabama Power did not immediately respond to multiple requests for comment by phone and email. At 77 acres and 1.2 million cubic yards of coal ash, the Gadsden ash pond is much smaller than some of the other massive coal ash lagoons in Alabama. The one at Plant Barry, in Mobile County, is nearly 600 acres. But Gadsden's was the first coal ash pond in Alabama to fully close after the U.S. Environmental Protection Agency implemented federal coal ash disposal rules in 2015. In fact, plans for the closure were already underway before the final rule was issued. Coal ash, or CCR, is an umbrella term that refers to several waste materials generated by the process of burning coal for electricity production. These waste materials can include fly ash, bottom ash, boiler slag and flue gas desulfurization sludge. Often, energy utilities combine these waste materials with water and store them in ponds at or near electrical generating plants, a practice environmental groups have criticized because they risk contaminating groundwater. Currently, Alabama has nine coal ash disposal sites across the state, most of which are located near waterways. The Gadsden ash pond was covered in 2018, but still appears to be releasing significant levels of toxins into groundwater. The Riverkeeper says that the October 2024 sampling results show arsenic at 40 times the legal standard for groundwater. The Gadsden ash pond is also close to the city's riverfront area, including numerous boat launches and areas where people can fish from the banks. There's also a drinking water intake just 0.6 miles downstream from the ash pond. Overton said it's concerning that the pond is still contaminating groundwater at high levels years after closure. 'We've been asking for the same thing, over and over again, which is [for Alabama Power to] move your ash to an upland lined landfill,' Overton said. 'Unfortunately, it takes litigation at times to force movement.' For all of its coal ash lagoons, Alabama Power elected to 'dewater' and cover the ponds where they are rather than excavate the ash and move it to a lined landfill. In that process, the remaining ash slurry was dewatered and compacted into a smaller footprint. A low-permeability liner was then installed on top of the slurry to keep rainwater from entering the disposal area and carrying contaminants into the environment. Environmental advocates and concerned citizens have urged the company for a decade now to move the coal ash to lined landfills away from the rivers to prevent groundwater contamination. They are also concerned about the potential for a catastrophic incident like the one at the Tennessee Valley Authority's Kingston, Tennessee, plant in 2007, when a dam breach sent 5.4 million cubic yards of coal ash slurry into a holding pond and then the Emory River. In 2014, a steel sewer line under a North Carolina coal ash pond collapsed, allowing the waste material to flow into the pipe and, eventually, into the nearby Dan River, polluting the water and putting dozens of marine species in harm's way. The disaster was among more than 160 cases of water contamination at coal ash sites that spurred adoption of the Coal Ash Rule in 2015. The 2015 EPA coal ash rules allowed for cover in place, as long as certain conditions were met. The Alabama Department of Environmental Management signed off on the company's cover in place plans, approving closure permits for all ash ponds in the state. However, last year, the EPA rejected Alabama's coal ash permitting program, saying it was 'significantly less protective of people and waterways than federal law requires.' 'Under federal regulations, coal ash units cannot be closed in a way that allows coal ash to continue to spread contamination in groundwater after closure,' the EPA said, in denying Alabama's program. 'In contrast, Alabama's permit program does not require that groundwater contamination be adequately addressed during the closure of these coal ash units.' A 2019 report by the Environmental Integrity Project and other advocacy groups found that 91 percent of coal-fired plants still had ash landfills or waste ponds that leak highly toxic metals and chemicals such as arsenic, lead, mercury, selenium and cadmium into groundwater at dangerous levels, often threatening streams, rivers and drinking water aquifers. 'Exposure to coal ash can lead to serious health concerns like cancer if the ash isn't managed appropriately,' then-EPA Administrator Michael S. Regan said of the federal government's denial of Alabama's coal ash permitting plan at the time. 'Low-income and underserved communities are especially vulnerable to coal ash in waterways, groundwater, drinking water, and in the air. This is why EPA works closely with states to ensure coal ash is disposed of safely, so that water sources remain free of this pollution and communities are protected from contamination.' An executive of Alabama Power, which owns most of the state's CCR units, claimed at a September 2023 EPA hearing that the utility's storage ponds are 'structurally sound.' Susan Comensky, Alabama Power's vice president of environmental affairs, told EPA officials that allowing the company to 'cap' CCR waste in place, even in unlined pits, will not present significant risks to human or environmental health. 'Even today, before closure is complete, we know of no impact to any source of drinking water at or around any Alabama Power ash pond,' Comensky said at the time. However, Alabama Power has been repeatedly fined for leaking coal ash waste into groundwater. In 2019, ADEM fined the utility $250,000 after groundwater monitoring at a disposal site on the Coosa River in Gadsden showed elevated levels of arsenic and radium, according to regulatory documents. In 2018, ADEM fined Alabama Power a total of $1.25 million for groundwater contamination, records show. In its order issuing the fine, the agency cited the utility's own groundwater testing data, which showed elevated levels of arsenic, lead, selenium and beryllium. The EPA denial notice cited Gadsden, among other coal ash ponds in Alabama, where waste ash material remains in constant contact with groundwater. Overton said about 40 percent of the ash at Gadsden is saturated by groundwater. 'Alabama Power created this mess,' Overton said. 'They shut this facility down and demolished it, but now they want to leave [the ash] here. Alabama Power claims to be a good neighbor, but I was taught that to be a good neighbor, you clean up after yourself.' SUPPORT: YOU MAKE OUR WORK POSSIBLE
Associated Press
14-05-2025
- Business
- Associated Press
American Resources Corporation's Electrified Materials Receives RCRA Permit for Recycling Batteries and Rare Earth Magnets
Electrified Materials recycles lithium ion batteries and rare earth magnet material to create MREC and Battery Black Mass from end-of-life and non-spec products The permit enables Electrified Materials to monetize copper, aluminum and ferrous metals along with critical minerals and rare earth elements at its Noblesville, IN site FISHERS, IN / ACCESS Newswire / May 14, 2025 / American Resources Corporation's (NASDAQ: AREC ) ('American Resources') announced that its wholly-owned subsidiary, Electrified Materials Corp ('Electrified Materials' or 'EMCO'), has received its Resource Conservation and Recovery Act (RCRA) permit issued by the Environmental Protection Agency (EPA) and the Indiana Department of Environmental Management (IDEM). This permit enable EMCO to preprocess and recycle products containing end-of-life lithium-ion batteries and rare earth magnets to produce critical mineral concentrates that will be supplied to ReElement Technologies to be refined into magnet and battery-grade materials for the domestic defense and commercial supply chains. Mark Jensen, Chairman and CEO of American Resources Corporation commented, 'The full life cycle solution we've created provides a streamlined and collaborative platform to efficiently return critical minerals, rare earth elements, and defense metals back into the domestic supply chain. Securing this permit-along with the installation of our power and substation at our Noblesville, Indiana site-marks a key milestone in scaling our recycling and refining partnership with ReElement Technologies. Together, our ecosystem of incubated companies now delivers the first truly comprehensive circular lifecycle solution in the United States capable of processing and refining end-of-life and off-spec products into high-purity (99.5% to 99.999%) critical materials, rare earths, and defense metals. This permit, combined with the $900,000+ grant from the State of Indiana and our strategic alignment with ReElement, will accelerate our expansion and strengthen our domestic footprint.' Mark Jensen further added, 'Many early market entrants deployed underdeveloped processes that ultimately lacked scalability or efficiency. Today, our preprocessing (recycling) technologies have been significantly refined - making them safer, more efficient, and more versatile than ever. We're excited to demonstrate a solution that can be scaled and replicated in other states and countries currently under evaluation.' Electrified Materials (EMCO) is a next-generation recycler focused on supporting the electrified economy by processing used minerals and metals into new steel-based, battery-grade, and magnet-grade products. Operating across the U.S., EMCO traces its roots to reclaiming former thermal coal mines and industrial sites. By leveraging regional logistics and infrastructure, and through its strategic partnership with ReElement Technologies - a leader in critical mineral refining - EMCO is expanding into high-growth markets for used steel, rare earth elements, and key battery and defense materials. The company is also committed to remediating legacy mining infrastructure. EMCO will preprocess end-of-life materials such as wind turbines, EV motors, lithium-ion batteries, consumer electronics, and e-waste, delivering concentrated critical minerals to ReElement for final refinement into manufacturing-grade products ready to reenter the domestic supply chain. About American Resources Corporation American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The American Resources is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated. American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit or connect with the American Resources on Facebook, Twitter, and LinkedIn. About Electrified Materials Corporation Electrified Materials Corporation ('EMCO') was formed by, and is a wholly-owned subsidiary of, American Resources Corp (Nasdaq: AREC). EMCO is a cutting-edge recycler of metals for the electrified economy. It controls the preprocessing of both end of life magnets, batteries and ferrous metals that enables EMCO to ensure a domestic supply chain for copper, aluminum, steel, plastic as well as rare earth and battery elements through its refining partnership with ReElement Technologies Corp. Special Note Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words 'believes', 'may', 'will', 'should', 'would', 'could', 'continue', 'seeks', 'anticipates', 'plans', 'expects', 'intends', 'estimates', or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved. Investor Contact: JTC Team, LLC Jenene Thomas (908) 824 - 0775 [email protected] Company Contact: Mark LaVerghetta 317-855-9926 ext. 0 [email protected] SOURCE: American Resources Corporation press release
Business Journals
01-05-2025
- Business
- Business Journals
Why Ohio businesses should continue environmental compliance efforts amid federal shifts
During the first Trump administration, federal regulatory policies experienced significant changes under a policy of pro-industry deregulation. Those changes pale in comparison to what is currently being proposed and anticipated for the second administration. Significant restructuring of federal agencies aimed at reducing spending appears to also be driven by a more refined policy of pro-industry deregulation. However, it is not clear if (or when) these actions will lead to noticeable changes impacting a business' day-to-day operations. Should businesses respond to recent changes and assess significant reductions to their compliance programs? At least for environmental compliance, it is probably best to continue with the status quo. The U.S. Environmental Protection Agency (U.S. EPA), like most federal agencies, has undergone sweeping changes. This includes significant staff cuts and reorganizations, threatened and realized budget cuts, the elimination of programs and a change in enforcement priorities and rulemaking focuses. These changes may make it seem tempting for companies to ease up on their environmental compliance efforts. However, there are several compelling reasons why businesses should not abandon their environmental compliance programs, even in the face of a shifting U.S. EPA landscape. The Vorys Energy & Environmental Law Blog helps keep readers informed about what is going on in both the energy and environmental fields. You can expect to find news and breaking legal developments on the latest environmental issues. Learn more and subscribe here. The EPA's role is not disappearing Unlike the Department of Education, where President Trump has consistently stated a desire to fully eliminate the department, there does not appear to be any intention to eliminate EPA. The matter of fact is that everyone realizes the importance of environmental protection, lest we return to the days of a burning Cuyahoga River. While there are disagreements on the extent of EPA's role, it is important to understand that the EPA is not vanishing. Nor are the substantial federal statutes regulating the environment such as the Clean Air Act (CAA), Clean Water Act (CWA), and Resource Conservation and Recovery Act (RCRA). Even if U.S. EPA enforcement softens, federal environmental statutes contain citizen suit provisions that allow for private parties (including environmental groups) to 'step in the shoes' of the U.S. EPA and bring lawsuits against businesses to comply with environmental laws. These citizen suits are often much more costly than government enforcement and can seek significant more burdensome corrective actions and you may be obligated to pay the private parties' attorney fees if they are successful. State-level enforcement is independent and remains strong It is also critical to recognize that while the U.S. EPA's focus may be changing, state environmental agencies do not have to follow suit. Federal environmental laws have a unique structure and relationship with state environmental laws. Generally, federal legislation sets the bar for environmental rules. EPA is tasked with writing regulations and enforcing the statutes – but they also commonly authorize states to implement their own environmental programs. State programs must be as strict as the federal programs but also can be more restrictive. Most states have taken EPA up on the offer and currently oversee their own state versions of the CAA, CWA, RCRA and others. This is the case in Ohio where the Ohio Environmental Protection Agency (Ohio EPA) is the primary regulatory and enforcement authority for environmental compliance. Ohio EPA has a long history of operating a robust regulatory program in the state. It was first authorized to issue National Pollutant Discharge Elimination System (NPDES) water permits under the CWA in 1974, regulate the base hazardous waste program under RCRA in 1989, and issue major Title V air permits under the CAA in 1994. It currently has an active and robust compliance and enforcement program that is generally not affected by federal changes. Ohio has yet to signal major agency shakeups like those happening at the federal level. Thus, businesses in Ohio will still face inspections, penalties, and potential lawsuits from Ohio EPA even if federal enforcement becomes more relaxed. Ohio EPA is also more connected to local environmental issues and has a deeper interest in protecting local communities and ecosystems. Relying solely on reduced federal enforcement will leave businesses exposed to state-level enforcement. Long-term considerations Corporate environmental responsibility is not just about avoiding fines or regulatory penalties; it is also about maintaining a strong reputation. Maintaining a strong compliance program can position companies as leaders in sustainability, which can translate into new business opportunities, improved relationships with regulators, and greater customer loyalty. Putting aside considerations of consumers and investors, abandoning or reducing environmental compliance programs will harm a company's image vis-à-vis Ohio EPA and U.S. EPA in the future. We know policies are cyclical and today's federal changes, even if they drip down to the state level, likely won't be around forever. It is important to maintain relationships with regulators whose tenure outlasts these policy shifts. In addition, the costs saved in the near term must be compared to the future costs (including operational impacts) of re-implementing compliance programs when the need arises in the future. Conclusion While the federal administration change and changes within the U.S. EPA may create uncertainty, businesses should not abandon their environmental compliance programs. U.S. EPA's core regulatory functions remain in place, state agencies like Ohio EPA continue to be the frontline of compliance, and environmental laws are still enforceable by citizens and environmental groups. Investing in robust compliance programs not only helps mitigate legal risks but also ensures long-term sustainability, protects a company's reputation, and positions it to navigate future regulatory changes effectively. Abandoning environmental compliance efforts now could result in costly setbacks, future legal consequences, and reputational damage. Maintaining strong environmental practices is almost always the better long-term choice for any business. Vorys was established in 1909 and currently has nearly 375 attorneys in 10 offices in Ohio, Washington, D.C., Texas, Pennsylvania, California, London and Berlin. Vorys currently ranks as one of the 200 largest law firms in the United States according to American Lawyer magazine. Learn more.
Yahoo
30-03-2025
- Business
- Yahoo
Clean Harbors, Inc. (CLH): Among the Best Waste Management Stocks to Invest In Now
We recently compiled a list of the 12 Best Waste Management Stocks to Invest In Now. In this article, we are going to take a look at where Clean Harbors, Inc. (NYSE:CLH) stands against the other waste management stocks. Waste management stocks include those companies that provide supporting environmental, engineering, and consulting services, as well as those that gather, process, store, transport, recycle, and dispose of waste products. The waste management industry is expanding rapidly. The market was worth $1,293.70 billion in 2022 and is projected to grow at a CAGR of 5.4% between 2023 and 2030, according to Grand View Research. Strict laws like the Resource Conservation and Recovery Act and the Waste Shipment Regulation are anticipated to drive the market to improve this service. In 2022, the collection segment held a dominant market share of over 62.0%. The industrial waste industry dominated the market, accounting for more than 85.9% in 2022. It is anticipated that during the projection period, the e-waste segment will grow at the quickest CAGR of 7.4%. Asia Pacific led the industry, accounting for more than 24.5% of the market in 2022. The projection period is anticipated to see the Middle East and Africa grow at a compound annual growth rate (CAGR) of 5.6%. According to Debra Reinhart, a Board of Scientific Counselors member for the EPA: 'It's a difficult industry, but it is profitable if it's done right.' Waste management is critical to promoting the growth of sustainable energy by reducing environmental impact, recovering valuable materials, and increasing resource efficiency. According to Deloitte's insights, land, water, and waste management must all be integrated in order to achieve a sustainable energy transition. Repurposing brownfield sites, abandoned power stations, and landfills for solar or battery storage maximizes land usage, while spatial mapping technologies reduce environmental effects. Water efficiency can be improved by recycling wastewater, using brackish and greywater, and switching to closed-cycle cooling systems. Advanced sorting, material recovery from retired equipment, and robotics are all waste reduction solutions that prioritize safety and efficiency. Moreover, cross-industry collaboration promotes industrial symbiosis, resulting in maximum resource utilization. Circular design concepts help to increase product life and facilitate disassembly. Increased renewable energy efficiency reduces land and waste footprints. Smart sensors and IoT technology reduce water leaks, while industrial sites' centralized recycling networks reduce freshwater extraction and wastewater outflow. These methods promote a sustainable and resource-efficient energy transition. According to S&P Global's October 2, 2024, report, private equity and venture capital investments in the waste management sector were projected to decline further in 2024 as investors moved their focus to circular economy solutions rather than traditional waste services. Global PE and VC-backed deals totaled $247.2 million in 2024, accounting for only 7% of the $3.62 billion reported in 2023, according to S&P Global Market Intelligence. The sector has steadily declined since peaking at $8.87 billion in 2021. The number of transactions declined in 2024 when compared to 2023 and 2022. In Q3 2024, the deal value was $8.3 million, down from $2.42 billion in Q3 2023, with only six transactions compared to 22 in the same period last year. The report further mentioned that eleven deals were announced in the United States and Canada, with seven deals in Europe and Asia-Pacific each. In terms of deal value, the United States and Canada received $116 million in announced investments, while Europe raised $104.5 million. Waste management enterprises in the Asia-Pacific received $26.7 million in private equity financing. Looking forward, as per the UN's Global Waste Management Outlook 2024, municipal solid waste generation is projected to jump from 2.1 billion tonnes in 2023 to 3.8 billion tonnes by 2050. In 2020, direct waste management expenses reached $252 billion, but hidden costs from pollution and climate change boosted the total to $361 billion. Without intervention, annual costs could nearly quadruple to $640.3 billion by 2050. Implementing waste management methods may reduce net expenses to $270.2 billion, whereas a circular economy could result in a $108.5 billion yearly net gain. The report calls on governments, businesses, and citizens to take action to mitigate rising prices and environmental impact. A truck filled with hazardous waste being safely unloaded at a recycling facility. We sifted through holdings of waste management ETFs and online rankings to form an initial list of 30 Waste Management stocks. From the resultant dataset, we chose the top 12 stocks most favored by hedge funds, using Insider Monkey's database of 1,009 hedge funds in Q4 2024 to gauge hedge fund sentiment for stocks. We have used the stock's Revenue Growth Rate (year-over-year) as a tie-breaker in case two or more stocks have the same number of hedge funds invested. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Hedge Fund Investors: 44 Clean Harbors, Inc. (NYSE:CLH) is included among the Best Waste Management Stocks. It is an environmental and industrial service provider. It delivers parts cleaning and environmental services to commercial, industrial, and automotive customers. Its business units are Environmental Services and Safety-Kleen Sustainability Solutions. The majority of the company's revenue comes from the Environmental Services division. The firm is the leader in hazardous waste management, with significant entry hurdles, 90% recurring revenue, and great pricing power. Clean Harbors, Inc. (NYSE:CLH)'s competitive advantage consists of owning EPA-approved landfills, high-capacity incinerators, and exclusive contracts for emergency response and industrial services. In Q4 2024, Clean Harbors, Inc. (NYSE:CLH) reported solid consolidated results, exceeding Street expectations with a 10% EBITDA growth in 2024. It had record sales, adjusted EBITDA, and adjusted free cash flow throughout the year. The Environmental Services division outperformed expectations, increasing revenue by 9% and adjusted EBITDA by 11%. The successful introduction of the Kimball Incinerator in Nebraska improved North American capacity by 12%. The company launched its Total PFAS solution and performed successful PFAS incineration testing, expecting significant market growth. It is in a good position for strategic expansion prospects because of its low leverage and solid $790 million cash balance. Risks include cost inflation, margin pressure, and volatility in the Safety-Kleen area, but Clean Harbors, Inc. (NYSE:CLH) has the potential for long-term success. Bell Global Equities Fund stated the following regarding Clean Harbors, Inc. (NYSE:CLH) in its Q4 2024 investor letter: 'The other new name introduced to the portfolio was Clean Harbors, Inc. (NYSE:CLH), the largest hazardous waste company in North America. We expect Clean Harbors' demand to grow a little faster than GDP as environmental regulations continue to tighten and the scarcity value of their landfill and incinerator assets allows them to consistently raise prices. Additionally, the onshoring of manufacturing and their Total PFAS solution act as further growth drivers. We initiated the position based on these robust fundamentals, coupled with our belief that the market has yet to fully appreciate the value of these assets and services, a view supported by recent private market transaction prices.' Overall, CLH ranks 4th on our list of the Best Waste Management Stocks to Invest In Now. While we acknowledge the potential for CLH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CLH but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stock To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at . Sign in to access your portfolio
Yahoo
30-03-2025
- Business
- Yahoo
Is Montrose Environmental Group, Inc. (MEG) Among the Best Waste Management Stocks to Invest In Now?
We recently compiled a list of the 12 Best Waste Management Stocks to Invest In Now. In this article, we are going to take a look at where Montrose Environmental Group, Inc. (NYSE:MEG) stands against the other waste management stocks. Waste management stocks include those companies that provide supporting environmental, engineering, and consulting services, as well as those that gather, process, store, transport, recycle, and dispose of waste products. The waste management industry is expanding rapidly. The market was worth $1,293.70 billion in 2022 and is projected to grow at a CAGR of 5.4% between 2023 and 2030, according to Grand View Research. Strict laws like the Resource Conservation and Recovery Act and the Waste Shipment Regulation are anticipated to drive the market to improve this service. In 2022, the collection segment held a dominant market share of over 62.0%. The industrial waste industry dominated the market, accounting for more than 85.9% in 2022. It is anticipated that during the projection period, the e-waste segment will grow at the quickest CAGR of 7.4%. Asia Pacific led the industry, accounting for more than 24.5% of the market in 2022. The projection period is anticipated to see the Middle East and Africa grow at a compound annual growth rate (CAGR) of 5.6%. According to Debra Reinhart, a Board of Scientific Counselors member for the EPA: 'It's a difficult industry, but it is profitable if it's done right.' Waste management is critical to promoting the growth of sustainable energy by reducing environmental impact, recovering valuable materials, and increasing resource efficiency. According to Deloitte's insights, land, water, and waste management must all be integrated in order to achieve a sustainable energy transition. Repurposing brownfield sites, abandoned power stations, and landfills for solar or battery storage maximizes land usage, while spatial mapping technologies reduce environmental effects. Water efficiency can be improved by recycling wastewater, using brackish and greywater, and switching to closed-cycle cooling systems. Advanced sorting, material recovery from retired equipment, and robotics are all waste reduction solutions that prioritize safety and efficiency. Moreover, cross-industry collaboration promotes industrial symbiosis, resulting in maximum resource utilization. Circular design concepts help to increase product life and facilitate disassembly. Increased renewable energy efficiency reduces land and waste footprints. Smart sensors and IoT technology reduce water leaks, while industrial sites' centralized recycling networks reduce freshwater extraction and wastewater outflow. These methods promote a sustainable and resource-efficient energy transition. According to S&P Global's October 2, 2024, report, private equity and venture capital investments in the waste management sector were projected to decline further in 2024 as investors moved their focus to circular economy solutions rather than traditional waste services. Global PE and VC-backed deals totaled $247.2 million in 2024, accounting for only 7% of the $3.62 billion reported in 2023, according to S&P Global Market Intelligence. The sector has steadily declined since peaking at $8.87 billion in 2021. The number of transactions declined in 2024 when compared to 2023 and 2022. In Q3 2024, the deal value was $8.3 million, down from $2.42 billion in Q3 2023, with only six transactions compared to 22 in the same period last year. The report further mentioned that eleven deals were announced in the United States and Canada, with seven deals in Europe and Asia-Pacific each. In terms of deal value, the United States and Canada received $116 million in announced investments, while Europe raised $104.5 million. Waste management enterprises in the Asia-Pacific received $26.7 million in private equity financing. Looking forward, as per the UN's Global Waste Management Outlook 2024, municipal solid waste generation is projected to jump from 2.1 billion tonnes in 2023 to 3.8 billion tonnes by 2050. In 2020, direct waste management expenses reached $252 billion, but hidden costs from pollution and climate change boosted the total to $361 billion. Without intervention, annual costs could nearly quadruple to $640.3 billion by 2050. Implementing waste management methods may reduce net expenses to $270.2 billion, whereas a circular economy could result in a $108.5 billion yearly net gain. The report calls on governments, businesses, and citizens to take action to mitigate rising prices and environmental impact. A biohazard waste disposal team safely transferring contaminated water for treatment. We sifted through holdings of waste management ETFs and online rankings to form an initial list of 30 Waste Management stocks. From the resultant dataset, we chose the top 12 stocks most favored by hedge funds, using Insider Monkey's database of 1,009 hedge funds in Q4 2024 to gauge hedge fund sentiment for stocks. We have used the stock's Revenue Growth Rate (year-over-year) as a tie-breaker in case two or more stocks have the same number of hedge funds invested. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Hedge Fund Investors: 17 Revenue Growth Rate (year-over-year): 11.56% Montrose Environmental Group, Inc. (NYSE:MEG) is an environmental services provider. The company's operations segments include Assessment, Permitting and Response, Measurement and Analysis, and Remediation and Reuse. Its Assessment, Permitting, and Response segment offers scientific advising and consultancy services to assist with environmental assessments, emergency response, and environmental audits. Measurement and Analysis involves testing and analyzing air, water, and soil to determine contaminant concentrations, whereas the Remediation and Reuse segment provides clients engineering, design, implementation, operations, and maintenance services to treat contaminated water, remove contaminants, or generate biogas. The United States generates the majority of geographic revenue. The waste management industry is fragmented, and Montrose Environmental Group, Inc. (NYSE:MEG) is looking for ways to strengthen its expertise through acquisitions. The business acquired two companies in 2024, including Colorado-based Two Dot Consulting, to expand its foothold in the Rocky Mountain states, making it one of the Best Waste Management Stocks for our list. Montrose Environmental Group, Inc. (NYSE:MEG) achieved record financial results in 2024, with total sales of $696.4 million, an 11.6% surge year on year, led by 8.3% organic growth and acquisitions. Fourth-quarter 2024 revenue reached an all-time high of $189.1 million, representing a 14.1% YoY rise. In 2024, Adjusted EBITDA grew 21.9% to $95.8 million, with the EBITDA margin rising to 13.8%. The company estimates revenue between $735 million and $785 million in 2025, driven by organic growth of 7% to 9%. Consolidated Adjusted EBITDA is expected to range between $101 million and $108 million, reflecting ongoing margin expansion and enhanced operational efficiency. Montrose Environmental Group, Inc. (NYSE:MEG)'s priority remains on increasing profitability and significantly boosting operating cash flow, utilizing its strong financial basis and rising demand for environmental services. Overall, MEG ranks 7th on our list of the Best Waste Management Stocks to Invest In Now. While we acknowledge the potential for MEG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MEG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stock To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at .
