SOURCE: Perma-Fix Environmental Services, Inc.

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July 25, 2016 12:50 ET

Perma-Fix Team Selected for $7 Million 5-Year Project at University of California, Lawrence Berkeley National Laboratory

ATLANTA, GA--(Marketwired - July 25, 2016) - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced that The Regents of the University of California, Lawrence Berkeley National Laboratory (LBNL) awarded a Master Service Agreement (MSA) for environmental restoration and regulatory compliance support services to a team comprised of Perma-Fix Environmental Services, Geosyntec Consultants, and Engineering Remediation Resources Group. The Perma-Fix team was one of four successful bidders under this five year MSA. The MSA has a total project value of $7 million. LBNL is a multi-program scientific research campus operated by the University of California (UC) for the United States Department of Energy (DOE).

Dr. Louis F. Centofanti, President and CEO, stated, "We are pleased to be part of the winning team for this project. We were selected based on our 20 years of experience and proven track record."

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 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.

Through Perma-Fix Medical S.A., our majority-owned Polish subsidiary, we are developing a new process to produce Tc-99m, a widely used medical isotope in the world.

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. 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; our ability to apply and market our new technologies; 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 fails to provides continuing funding for the DOD's and DOE's remediation projects; ability to obtain new foreign and domestic remediation contracts; our ability to fund the commercialization of our technology; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2015 Form 10-K and Form 10-Q for quarter ended March 31, 2016. 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.

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Contact Information

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

    Herbert Strauss-European Investor Relations
    +43 316 296 316