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Covanta Starts Building its First Total Ash Processing System
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Covanta Holding Corporation has begun constructing its first Total Ash Processing System (“TAPS”) in Fairless Hills, PA, next to Covanta’s existing metals processing facility.
The primary objective of this system is in sync with this sustainable waste and energy solutions provider’s motto, which is to ensure that no waste is ever wasted. TAPS will process more than 400,000 tons of ash from multiple Covanta Energy-from-Waste (“EfW”) facilities and thereby reduce the volume of ash requiring landfill disposal by nearly 65%.
This facility is expected to begin commercial operation from the second half of 2019.
Importance of TAPS
TAPS will utilize a unique technology to segregate the combined ash from Covanta’s Efw facilities into its component parts. This separation of ash will provide Covanta with new business opportunities through the recovery of small metal fractions and the recovery of aggregate for reuse as construction material.
The TAPS facility holds immense growth potential for Covanta through proper management of ash generated from its EfW units. It will also help in venturing new markets by marketing the byproducts generated from the segregation of ash.
There is strong demand for heavy metal steel in the United States. Covanta might plan to increase production from its metal processing facilities, with the excess ash taken care of by the new processing facility.
The success of the pilot TAPS projects holds the key for the emergence of more such projects in the coming years. Depending on the success of the project, the company might set up more EfW facilities to manage waste and provide clean energy to customers.
Price Performance
Covanta Holdings’ shares have lost 9.7% in the past three months, narrower than its industry’s decline of 12.8%.
Other top-ranked stocks from the same industry include NextEra Energy Partners L.P. (NEP - Free Report) and Central Puerto S.A. Sponsored ADR (CEPU - Free Report) and FuelCell Energy Inc. (FCEL - Free Report) . While NextEra Energy Partners and Central Puerto both sport a Zacks Rank #1, FuelCell Energy holds a Zacks Rank #2.
The Zacks Consensus Estimate for NextEra Energy Partners, Central Puerto and FuelCell Energy for 2019 has moved up 3.2%, 15.1% and 5.9%, respectively, in the past 60 days.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Covanta Starts Building its First Total Ash Processing System
Covanta Holding Corporation has begun constructing its first Total Ash Processing System (“TAPS”) in Fairless Hills, PA, next to Covanta’s existing metals processing facility.
The primary objective of this system is in sync with this sustainable waste and energy solutions provider’s motto, which is to ensure that no waste is ever wasted. TAPS will process more than 400,000 tons of ash from multiple Covanta Energy-from-Waste (“EfW”) facilities and thereby reduce the volume of ash requiring landfill disposal by nearly 65%.
This facility is expected to begin commercial operation from the second half of 2019.
Importance of TAPS
TAPS will utilize a unique technology to segregate the combined ash from Covanta’s Efw facilities into its component parts. This separation of ash will provide Covanta with new business opportunities through the recovery of small metal fractions and the recovery of aggregate for reuse as construction material.
The TAPS facility holds immense growth potential for Covanta through proper management of ash generated from its EfW units. It will also help in venturing new markets by marketing the byproducts generated from the segregation of ash.
There is strong demand for heavy metal steel in the United States. Covanta might plan to increase production from its metal processing facilities, with the excess ash taken care of by the new processing facility.
The success of the pilot TAPS projects holds the key for the emergence of more such projects in the coming years. Depending on the success of the project, the company might set up more EfW facilities to manage waste and provide clean energy to customers.
Price Performance
Covanta Holdings’ shares have lost 9.7% in the past three months, narrower than its industry’s decline of 12.8%.
Zacks Rank & Other Key Picks
Covanta currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other top-ranked stocks from the same industry include NextEra Energy Partners L.P. (NEP - Free Report) and Central Puerto S.A. Sponsored ADR (CEPU - Free Report) and FuelCell Energy Inc. (FCEL - Free Report) . While NextEra Energy Partners and Central Puerto both sport a Zacks Rank #1, FuelCell Energy holds a Zacks Rank #2.
The Zacks Consensus Estimate for NextEra Energy Partners, Central Puerto and FuelCell Energy for 2019 has moved up 3.2%, 15.1% and 5.9%, respectively, in the past 60 days.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>