SOURCE: Casella Waste Systems, Inc.

April 30, 2008 16:02 ET

Casella Waste Systems, Inc., in Effort to Reduce Both Fuel Consumption and Greenhouse Gas Emissions, Puts First Hybrid Resource Collection Vehicle in Service

RUTLAND, VT--(Marketwire - April 30, 2008) - Casella Waste Systems, Inc. (NASDAQ: CWST), as part of its commitment to resource sustainability and its pledged reduction in greenhouse gas emissions, said today that it will deploy its first hybrid diesel electric collection vehicle.

The company expects the vehicle, an International DuraStar Hybrid diesel electric hybrid truck, to reduce fuel consumption by 30 to 40 percent and reduce greenhouse gas emissions by 65 percent. The vehicle will be put into service on an organics recycling route in the greater Burlington, Vermont market in early May.

"We have challenged our people to find solutions to operate our business more efficiently while also reducing our environmental impact," John W. Casella, chairman and chief executive officer of Casella Waste Systems, said. "Servicing our customers with this hybrid recycling truck is an important step forward in our commitment to reduce our greenhouse gas emissions as part of the EPA Climate Leaders program, reduce our overall consumption of fossil fuels, and insulate our business from the volatility of fuel costs."

"We are excited to partner with Navistar, a forward-thinking company that understands the rapidly changing global energy and resource constraints," Casella said. "We plan to roll out this technology to additional locations and we continue to look for other applications to put hybrid vehicles into service to further reduce our environmental footprint and diesel fuel costs."

Earlier this year, the company installed an on-board oil refining system on over 800 of its vehicles, significantly extending time between oil changes, reducing oil consumption and maintenance costs, and reducing greenhouse gas emissions. Combined with the commitment to deploy hybrid truck solutions, the company expects to make further strides toward adopting innovative technologies to reduce fuel consumption and greenhouse gas emissions.

Casella expects to reduce greenhouse gas emissions by an estimated 8 to 11 metric tons of CO2 equivalents annually with this single hybrid vehicle through reduced vehicle emissions.

About Casella Waste Systems, Inc.

Casella Waste Systems is an integrated solid waste and resource management company headquartered in Rutland, Vermont. In addition to providing traditional solid waste collection, transfer and disposal services, in the fiscal year ended April 30, 2007, the company renewed the life-cycle of over 3.8 billion pounds of recyclable material (the equivalent of a line of fully loaded garbage trucks stretching from New York City to Omaha, Nebraska) and produced over 91,500 MWh of clean, renewable energy from landfill gas-to-energy facilities (enough energy to power a community of 33,000 people each year). It is the only solid waste services company participating in the U.S. Environmental Protection Agency's Climate Leaders program to reduce greenhouse gases. For further information, investors should contact Ned Coletta, director of investor relations at (802) 772-2239; media should contact Joseph Fusco, vice president at (802) 772-2247; or visit the company's website at http://www.casella.com.

Safe Harbor Statement

Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as the Company "believes," "expects," "anticipates," "plans," "may," "will," "would," "intends," "estimates" and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's beliefs and assumptions. We cannot guarantee that we actually will achieve the plans, intentions or expectations disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of our operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in our forward-looking statements. Such risks and uncertainties include or relate to, among other things: actual results of and savings from our hybrid diesel electric vehicles may be less substantial than we are currently estimating; the economics of hybrid diesel vehicles may limit our deployment of these vehicles; we may be unable to reduce costs sufficiently to achieve estimated EBITDA and other targets; anticipated revenue may not materialize; landfill operations and permit status may be affected by factors outside our control, continuing weakness in general economic conditions and poor weather conditions may affect our revenues; we may be required to incur capital expenditures in excess of our estimates; and fluctuations in the commodity pricing of our recyclables may make it more difficult for us to predict our results of operations or meet our estimates. There are a number of other important risks and uncertainties that could cause our actual results to differ materially from those indicated by such forward-looking statements. These risks and uncertainties include, without limitation, those detailed in Item 1A, "Risk Factors" in our Form 10-K for the year ended April 30, 2007. We do not necessarily intend to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

  • Contact:
    Ned Coletta
    Director of Investor Relations
    (802) 772-2239

    Joseph Fusco
    Vice President
    (802) 772-2247