SOURCE: Perma-Fix Environmental Services, Inc.

Perma-Fix Environmental Services, Inc. Logo

October 01, 2014 08:39 ET

Perma-Fix Environmental Services Announces $4.5 Million Service Contract

ATLANTA, GA--(Marketwired - October 01, 2014) - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced the U.S. Department of Energy (DOE) has awarded Perma-Fix a Firm-Fixed-Price task order off the Mixed Low-Level Waste (MLLW) Treatment Indefinite Delivery/Indefinite Quantity (ID/IQ) contract with Perma-Fix Environmental Services, LLC of Oakridge, TN. The dollar value of the task order is $4.5 million with a one year period of performance. Work will be performed at the Los Alamos National Lab (LANL) and at Perma-Fix's facility. The work to be performed under this contract includes, but is not limited to:

  • Conducting a complete characterization of waste from the Flanged Tritium Waste Container (FTWC) waste streams and packaging and transportation of the FTWCs from LANL to an approved and authorized Treatment Storage and Disposal Facility (TSDF)
  • Treatment of the FTWC waste stream at Perma-Fix's waste treatment facility.
  • Shipment of the treated FTWC daughter waste streams to the Nevada National Security Site (NNSS) or other appropriate TSDF for disposal.

The mission of the Office of Environmental Management is to complete the safe cleanup of the environmental legacy brought about from five decades of nuclear weapons development and government-sponsored nuclear energy research.

Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "We are proud to have been selected for this important task order and look forward to supporting the DOE in its mission to clean up these sites."

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the DOE, the Department of Defense ("DOD"), and the commercial nuclear industry. The Company's nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide. Additional information is available at http://www.perma-fix.com.

This press release contains "forward-looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plans to", "estimates", "projects", and similar expressions. Forward-looking statements include, but are not limited to: contract value of this contract and work enables us to continue our relationship with NNPP. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; that Congress does not provide the appropriate funding for the navy to perform under this contract; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of, our 2013 Form 10-K and our Form 10-Q for the quarter ended June 30, 2014. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.

Contact Information

  • Contacts:
    David K. Waldman
    US Investor Relations
    Crescendo Communications, LLC
    (212) 671-1021

    Herbert Strauss
    European Investor Relations
    herbert@eu-ir.com
    +43 316 296 316