FirstEnergy (FE) Inks Deal For Environmental Preservation
Zacks Investment Research | Nov 29, 2016 09:54PM ET
FirstEnergy Corp. (NYSE:FE) has inked a deal with an affiliate of Murray American Energy, Inc. to ship coal combustion residuals (CCRs) from the former’s Bruce Mansfield Plant in Shippingport.
Rationale of the Agreement
CCR is created by the combustion of coal and during the scrubbing process at coal-fired electricity plants. These residuals have been classified as non-hazardous by the state and federal government.
The CCRs produced from FirstEnergy’s Bruce Mansfield Plant will be sent to a site in Moundsville owned by the Marshall County Coal Company for mine reclamation.
As per the agreement, around 80% of the CCRs will be utilized for mine reclamation, while the remaining 20% will be recycled by National Gypsum Company into drywall at its Shippingport production facility. National Gypsum Company is a fully integrated building products manufacturer based in Charlotte, well known in the U.S. for its drywall gypsum boards.
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