Charah Solutions (NYSE:CHRA) stock is taking off on Friday after announcing a massive deal with Dominion Energy (NYSE:D).

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Here’s everything that potential investors need to know about CHRA stock and the deal with D.

• Charah Solutions is a “provider of environmental services and byproduct sales to the power generation industry.”
• This has the company helping other companies meet standards and recycle waste products from power generation.
• That includes distributing ash byproducts from coal combustion to those that can make use of it.
• That’s where the deal with Dominion Energy comes into play.
• The company is looking to meet government guidelines for its leftover ash.
• Charah Solutions will assist by setting up the infrastructure to do so.
• This will have it supply the ash byproduct to cement kiln feed markets.

• These companies can make use of it when making cement for construction projects.
• The deal with Dominion Energy will have it relocating 8.1 million tons of coal ash.
• D has contracted Charah Solutions to take care of this starting this year through 2032.
• The remaining coal ash not part of this agreement will be stored by Dominion Energy in a lined landfill.
• The news caught the interest of investors, who are now heavily trading shares of CHRA stock.
• As of this writing, some 22 million shares have changed hands.
• To put that in perspective, the company’s daily average trading volume is only about 40,000 shares.

CHRA stock was up 42.1% as of Friday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.