SOURCE: EnergySolutions


September 12, 2012 08:30 ET

EnergySolutions Enters Second Phase of Fukushima Clean-Up Contract

SALT LAKE CITY, UT--(Marketwire - Sep 12, 2012) - EnergySolutions (NYSE: ES) announced today that it has entered into the second phase of its contract with Toshiba Corporation (Toshiba) as part of the on-going remediation of the damaged Fukushima Dai-ichi Nuclear Power Plant.

Previously selected as the technology provider for the clean-up of the large volume of radioactively contaminated water at the site, EnergySolutions will now supply the containers and materials necessary to support the operation of the technology, which is expected to commence on schedule this autumn. The materials will include the ion exchange media used in the water clean-up system and EnergySolutions' own proprietary High Integrity Containers for secondary waste collection and long-term storage. The new phase of the contract will cover supply of materials for the first several months of operations, with the system currently scheduled to run for over a year.

"We are pleased with the success of our work to date alongside TEPCO and Toshiba," said Mark Morant, President of EnergySolutions' Global Commercial Group. "Our people have risen to the unique challenges faced at Fukushima and are delivering our world-leading technology in support of this crucial task. We now look forward to assisting in its successful operation and moving the site towards its ultimate remediation."

Toshiba has been selected as the prime contractor for the work by Tokyo Electric Power Company (TEPCO), the owner of the Dai-ichi plant, and EnergySolutions is providing the technology and supporting Toshiba in designing, installing and operating the system to decontaminate the water down to levels satisfying the strict safety limits announced by the Japanese Government, which represent a world-leading standard of clean-up.

EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle.

The statements in this news release regarding application of the Company's proven technology and its ability to deliver uniquely high levels of decontamination constitute forward-looking statements that involve various risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Forward-looking statements are not guarantees of future performance and the Company's actual results may differ significantly from the results discussed or contemplated in the forward-looking statements. The unique levels of contamination, large volumes of waste water and other characteristics of the proposed Fukushima decontamination project may present unforeseen technological challenges and other risks and uncertainties could affect the Company's ability to deliver the results presently contemplated. In addition, other risks are identified in the Company's Annual Report on Form 10-K, as amended, for the fiscal year ended December 31, 2010 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 filed with the SEC. The Company expressly disclaims any obligation to update or revise any forward-looking statement found herein to reflect any change in Company expectations or results or any change in future events.

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