October 7, 2008
Covanta Celebrates Major Milestone
To: ENVIRONMENTAL EDITORS
Contact: Vera Carley, Media Relations Manager, +1-973-882-2439; or Marisa Jacobs, Vice President, Investor Relations and Corporate Communications, +1-973-882-4196, both of Covanta Holding CorporationProcessing 250 Millions Tons of Waste into Energy
While Offsetting 250 Million Tons of Greenhouse Gas Emissions
FAIRFIELD, N.J.,Oct. 7/PRNewswire-FirstCall/ --Do you know what happens when you use 250 million tons of household trash to make clean, renewable energy? Covanta Holding Corporation (NYSE: CVA) can tell you since it announced today that it has done just that.
Covanta has reached a significant milestone -- converting more than 250 million tons of waste into energy and offsetting 250 million tons of greenhouse gases. Turning waste into watts, Covantas 35 domestic facilities offset approximately one ton of greenhouse gases for every ton of waste processed.
Covanta is a world leader in the development and operation of large scale Energy-from-Waste and other renewable energy projects. The 250 million tons of residual municipal solid waste converted into energy since beginning operations in 1986 has several significant environmental benefits. Covanta has:
-- Offset enough greenhouse gas emissions to have the same benefit as planting 6 billion trees;
-- Generated enough clean, renewable electricity to power 11
-- Preserved hundreds of acres of land and habitat - 250 million
tons of waste is enough to cover the entire island of Manhattan
30 feet deep; and
-- Recycled approximately 5 million tons of metal that would have
otherwise been landfilled; enough metal to build 60 Golden Gate
The achievement of this milestone was made possible through the hard work and dedication of our employees and the foresight of our client communities who shared our vision for a long-term, environmentally responsible waste disposal solution long before it was fashionable, said Anthony J. Orlando, Covanta CEO and President. Over the past 22 years, we have proven that Energy-from-Waste helps address three of societys biggest issues: how to provide sustainable waste disposal, how to generate clean energy and how to reduce greenhouse gas emissions.
Covanta Energys achievement clearly demonstrates that converting waste into energy is helping our nation meet its renewable energy needs and fight global warming, said Michael Eckhart, President of the American Council on Renewable Energy (ACORE). By turning municipal solid waste into clean energy, Covanta enables local communities to achieve their sustainability goals and businesses to achieve near zero-landfill targets.
Each year, Covantas Energy-from-Waste facilities process approximately 5% of the nations waste. At the same time, energy derived from that waste generates enough energy to power all the homes in Philadelphia and its suburbs for a year. Covantas facilities also recover and recycle more than 360,000 tons of metals from the waste each year, which is enough metal to manufacture 275,000 hybrid cars.
Covanta Holding Corporation (NYSE: CVA), is an internationally recognized owner and operator of large-scale Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy. Covantas 38 Energy-from-Waste facilities provide communities with an environmentally sound solution to their solid waste disposal needs by using that municipal solid waste to generate clean, renewable energy. Annually, Covanta's modern Energy-from-Waste facilities safely and securely convert approximately 16 million tons of waste into more than 8 million megawatt hours of clean renewable electricity and create 10 billion pounds of steam that are sold to a variety of industries. For more information, visit www.covantaholding.com.
SOURCE Covanta Holding Corporation
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