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COVANTA HOLDING CORPORATION

(CVA)
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Covanta SEMASS Partners With Yarmouth, MA to Provide Bundled Sustainable Waste Management Services and Transfer Station Operation

12/30/2013 | 10:20am EDT

YARMOUTH, MA--(Marketwired - Dec 30, 2013) - Covanta SEMASS, L.P. (Covanta SEMASS), a subsidiary of Covanta (NYSE: CVA), a world leader in sustainable waste management and renewable energy, today announced a new agreement with the Town of Yarmouth, MA for bundled sustainable waste management services and the operation of the Yarmouth Transfer Station.

Covanta will provide sustainable disposal of the Town's approximately 10,000 tons of municipal solid waste at the Covanta SEMASS Energy-from-Waste facility in addition to handling recycling, e-waste recycling, organics and composting, secured destruction of prescription medication and bulky waste disposal. The new agreement is slated to begin February 1, 2014 with the contract running for 10 years with mutual extension options after the initial term.

As part of the agreement, Covanta will also assume control of the Yarmouth Transfer Station which provides municipal and commercial customers on the Cape with continued access to rail transport of solid waste from the Cape directly to the SEMASS facility in Rochester, MA. The station will continue to accept recyclable material with Covanta assisting municipal and commercial customers with opportunities to increase recycling through bundled services offerings.

"These agreements represent a continuation and expansion of what has been a mutually beneficial public-private partnership between the Town of Yarmouth and Covanta SEMASS," said William Hinchey, Yarmouth Town Administrator. "The Town benefits financially by securing a reasonable price for transportation and disposal of solid waste and by reducing solid waste through expanded recycling initiatives including e-waste and organics."

Solid waste that is delivered to the transfer station will continue to be processed and shipped by Mass Coastal Railroad to the Covanta SEMASS facility in Rochester, MA. A new 10-year agreement between Covanta and Mass Coastal will provide new opportunities to increase rail utilization for waste and recyclables.

"Mass Coastal is pleased to work with Covanta and the Cape Cod Communities to provide dependable and energy efficient transportation of waste from the Cape to the SEMASS Facility," said Christopher Podgurski, President & Chief Operating Officer for Massachusetts Coastal Railroad. "One of the most obvious benefits of our 'Energy Train Service' is avoiding over 10,000 truck trips along the Rte. 6 Corridor and the Canal Bridges. We also work in tandem with the MASSDOT Rail Unit and the Army Corp to ensure that the railroad infrastructure remains a viable means of transportation of waste along with other rail-borne commodities."

Covanta SEMASS provides southeastern Massachusetts communities with an environmentally superior alternative to landfilling their municipal solid waste. Operating since 1988, the facility processes approximately one million tons of municipal solid waste into clean, renewable electricity for approximately 75,000 southeastern Massachusetts homes and recycles nearly 50,000 tons of metals annually.

"Covanta is extremely pleased to be expanding our partnership with the Town of Yarmouth. The Yarmouth Transfer Station provides Cape Cod communities and commercial haulers a convenient location for disposal and recycling and by partnering with Mass Coastal Railroad, we are able to minimize truck traffic on Cape Cod roadways and bridges," said Stephen Diaz, Covanta's Waste Solutions vice president.

Recovering energy from waste after efforts to reduce, reuse and recycle is a critical component of managing waste. For every ton of municipal solid waste processed at Energy-from-Waste facilities like Covanta SEMASS, greenhouse gas emissions are reduced by the equivalent of approximately one ton of carbon dioxide emissions. This is possible due to the avoidance of methane from landfills, the offset of greenhouse gases from fossil fuel electrical production and the recovery of metals for recycling.

About Covanta
Covanta is a world leader in sustainable waste management and renewable energy. The Company's 45 Energy-from-Waste facilities provide communities and businesses around the world with an environmentally sound solution to their solid waste disposal needs by using waste to generate clean, renewable energy. Annually, Covanta's modern Energy-from-Waste facilities safely and securely convert approximately 20 million tons of waste into clean, renewable electricity to power one million homes and recycle over 430,000 tons of metal. Energy-from-Waste facilities reduce greenhouse gases, complement recycling and are a critical component of sustainable solid waste management. For more information, visit www.covantaenergy.com.


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Net income 2021 17,1 M - -
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Bradford J. Helgeson Chief Financial Officer & Executive Vice President
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Derek W. Veenhof Chief Operating Officer & Executive Vice President
Timothy John Simpson Chief Administrative Officer & Executive VP
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