Covanta Energy and Marion County, Oregon Reach Contract Extension Agreement for Sustainable Waste Disposal

New Agreement Extends Long-Term Partnership for up to Five Years

Marketwired

BROOKS, OR--(Marketwired - Sep 11, 2013) - Covanta Marion, Inc., a subsidiary of Covanta Energy Corporation, (NYSE: CVA) and Marion County, Oregon today announced an agreement that extends sustainable waste disposal services for the county at the Covanta Marion Energy-from-Waste (EfW) facility. The new agreement, which is for up to five years, was recently approved by the Marion County Board of Commissioners and begins in September 2014 after the expiration of an existing 30-year agreement.

"The new contract provides for the continuation of reliable waste disposal and extends a successful partnership between Covanta and Marion County that began in the mid-1980s," remarked Commissioner Sam Brentano, Marion County. "The Energy-from-Waste facility coupled with innovative recycling programs has enabled Marion County to be a leader in solid waste management."

Since 1987, the Covanta Marion Energy-from-Waste facility has been a critical component of the county's sustainable, integrated waste management system. The County has built a world-class system that prioritizes recycling and relies on energy recovery for material that remains. Electricity and metal recycling revenues from the EfW facility enable the county to provide residents with innovative recycling programs including, among other things, a curbside collection program for non-traditional recyclable materials such as latex paint, household batteries, motor oil, antifreeze and cooking oil. The county has also achieved a recycling rate of approximately 60 percent which is among the highest in the country and more than double the national average.

Under terms of the new agreement, the county will continue to supply 145,000 tons of municipal solid waste per year to Covanta.

"Covanta is pleased to continue our long and mutually-beneficial partnership with Marion County," said Paul Stauder, Covanta senior vice president of business management. "The county and its residents should be proud of the sustainable waste management system they have worked hard to establish over the years. These efforts have resulted in a true model of environmentally sound waste disposal that can be emulated by communities around the country. We are proud of Covanta's contribution in providing a critical component of that system through our Energy-from-Waste facility."

Since its inception, the Covanta Marion Energy-from-Waste facility has:

  • Converted approximately 5 million tons of municipal solid waste into approximately 2.2 million megawatt hours of clean, renewable energy - enough to power over 190,000 homes for a year
  • Recovered and recycled approximately 100,000 tons of metal, the equivalent amount of steel used to build more than 80,000 automobiles
  • Reduced approximately 5 million tons of greenhouse gases based on national averages, which is equal to avoiding the annual greenhouse gases from nearly 950 thousand passenger vehicles

Recovering energy from waste after employing efforts to reduce, reuse and recycle is a critical component of managing residual waste. On average, for every ton of municipal solid waste processed at energy-from-waste facilities like Covanta Marion, greenhouse gas emissions are reduced by approximately one ton. 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 to sustainable solid waste management. For more information, visit www.covantaenergy.com.

About Marion County
Marion County, Oregon is located south of the Portland metropolitan area and stretches from the Willamette River to the Cascade Mountains encompassing nearly 1,200 square miles. Most of the county's 315,900 residents can reach Pacific beaches in less than two hours. Marion County has 20 cities, including the State Capital, Salem. It is the largest producer of agriculture among Oregon's 36 counties. The economy is also based on government, with 38 of the largest state agencies based in Marion County. Marion County provides essential public services including public and mental health, elections, licensing and recording, property assessment, road and bridge maintenance, mapping, land use, public safety, waste management and more. For more information, visit www.co.marion.or.us

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