Company History

We are leaders in rediscovering resources. Over the past 20 years, the nature of our business has evolved and definitions of what is considered "waste" have been transformed. We have added clean technology processes to recover products and to recycle resources from industrial residues. The path to our leadership position began in 1993.

Today, the company has a staff of more than 2,000 and a network of 85 facilities across Canada and the U.S. We recover approximately $400 million worth of reuseable products that would otherwise go to disposal.


  • Current management team joins the company and begins to build the company by establishing oilfield and industrial environmental services
  • Six facilities in Alberta primarily focused on treatment and terminaling of crude oil and in water disposal
  • Just over $1 million in cash flow

1993 – 2002

  • Revenue grows from $8 million to $112 million
  • Cash flow improves from $1.5 million to $32 million
  • Market capitalization increases 15 times to $175 million
  • Acquired and constructed facilities
  • Commercialized new processes to recover saleable products from oilfield and industrial wastes

2003 – 2005

  • Newalta Corporation converts to an income trust in early 2003
  • Dynamic growth continues, through investments in growth projects and acquisitions that total $152 million
  • Revenue grows from $112 million to $248 million
  • Cash flow increases from $32 million to $75 million
  • Market capitalization increases five times to $840 million
  • Year-end 2005, Newalta has 47 facilities and almost 1,000 people


  • Newalta completes seven acquisitions for a combined purchase price of approximately $200 million
  • Acquisitions included PSC Industrial Services Canada Inc. which established a strong company presence in Ontario.
  • Operations were reconfigured into Western and Eastern divisions to improve customer access, enhance productivity and standardize processes
  • At year-end, Newalta has over 1,700 employees and more than 70 facilities


  • Newalta completes seven acquisitions, primarily in Eastern Canada, for a total of approximately $97 million
  • In just two years, we successfully established a strong Eastern Canadian market presence with 30 facilities, approximately 800 people and an approximate 20 percent market share.


  • Newalta Income Fund converted to a corporation in late 2008
  • Revenue and EBITDA increased 19 percent and 31 percent as compared to 2007, to $597 million and $126 million respectively. Improved performance was a result of solid returns from investments made in 2007 to expand services and improve profitability, as well as strong commodity prices
  • At year-end 2008, Newalta has over 80 facilities across Canada and 2,000 people


  • Adjusted EBITDA improved from $30 million in the first half to $52 million in the second half, as commodity prices strengthened, our markets recovered and cost reductions were realized
  • Brought SG&A expense before non-cash stock-based compensation down 13 percent compared to 2008


  • Revenue increased $93 million, or 19 percent, and Adjusted EBITDA climbed $37 million, or 45 percent, from 2009
  • Our strong performance supported a 30 percent dividend increase and $76 million in capital investments
  • We responded to recovering markets, driving improved return on capital of 13 percent from 9 percent in 2009
  • Newalta delivered a 50 percent return to investors in 2010, bringing total returns to 100 percent over the previous two years


  • Revenue increased $106 million or 19 percent, Adjusted EBITDA increased $28 million or 23 percent and Return on capital improved to 15 percent
  • We added new Onsite contracts and strengthened our U.S. business platform
  • We identified several new processes to be piloted
  • We strengthened the balance sheet with refinancing long term debt
  • Our strong performance supported a $87 million growth capital investment and a 23 percent dividend increase


  • Grew our employee base by 10 percent to over 2,200 people
  • Revenue of approximately $726 million
  • Adjusted EBITDA of approximately $142 million
  • Grew U.S. revenue by 25 percent over 2011
  • Aligned the organization into three new divisions - New Markets, Oilfield and Industrial - to enhance customer service and support key growth areas
  • Established a leadership position in the area of mature fine tailings processing in Canada's oil sands


  • Revenue of approximately $783 million
  • Adjusted EBITDA of approximately $150 million
  • Opened our U.S. head office in Denver, Colorado to serve growing U.S. business
  • Pioneered the development of modular "satellite" facilities to treat oilfield waste streams for customers in Canada and the U.S.
  • Recorded our safest year on record with a total recordable injury frequency of 1.9, down from 2.7 in 2012
  • Signed a development agreement with DuPont Canada to demonstrate a new wastewater process for customers