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Stock Alert: Charah Solutions Hits New 52-week High On 12-year Contract With Dominion Energy

Shares of Charah Solutions, Inc. (CHRA), a Louisville, Kentucky-based provider of environmental and maintenance services to the power generation industry, are surging more than 54 percent or $1.47 in Friday's morning trade at $4.18, after hitting a new 52-week high of $5.20.

Friday, Charah Solutions said it has been awarded a twelve-year ash marketing contract by Richmond, Virginia-based Dominion Energy Inc. (D) for the beneficiation and utilization of up to 8.1 million tons of reclaimed ponded coal ash at Dominion's Chesterfield Power Station in Chester, Virginia. Dominion Energy has contracted with Charah Solutions for the coal ash utilization efforts effective 2021 through 2032.

The beneficiated ash product will replace other currently utilized virgin raw materials in the production of Portland cement at several cement kiln locations in the eastern U.S. for the next more than ten years and also help supply the rising demand for concrete in the construction industry.

Charah Solutions has traded in a range of $1.28 to $5.20 in the past 52 weeks.

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