Perma-Fix Among Three Suppliers Awarded Four-Year Framework Contract Worth up to £41 Million for the Treatment and Conditioning of Radioactive Waste in the UK
July 11 2022 - 8:30AM
Perma-Fix Environmental Services, Inc. (NASDAQ:
PESI) (the “Company”) today announced it is one of only
three suppliers awarded a Framework Contract by Nuclear Waste
Services (NWS), part of the United Kingdom’s (UK) Nuclear
Decommissioning Authority (NDA), which is focused on management of
the UK’s nuclear waste, safely and securely for generations to
come. As a result of the award, Perma-Fix has been selected to
compete for firm, fixed-price and cost-reimbursement task orders
for the treatment and conditioning of radioactive waste in the UK,
with a maximum ceiling of £41 million over four years.
The Framework Agreement includes a variety of
services covering the full waste lifecycle, including but not
limited to, project management, expert advice, characterization,
site preparations, dismantling, transport, segregation, treatment,
conditioning and optimized disposal.
Mark Duff, President and CEO of the Company,
commented, “Perma-Fix is thrilled to receive the award of this
Framework Contract by the UK government’s Nuclear Waste Services,
with a total value of up to £41 million across three suppliers for
the treatment and conditioning of radioactive waste. This award
underscores our view of the market potential for our services in
Europe, as well as the importance of our current technology
offering, which has proven valuable in the US for over 30
years.”
Dr Craig Ashton, Waste Services Director at NWS,
said, “This Framework Contract marks the continued evolution of our
service offering to customers as part of a longer-term strategy for
generating even greater value and enabling mission
acceleration.”
About Nuclear Waste
Services
Nuclear Waste Services brings together the UK’s
leading nuclear waste management capabilities. We have integrated
the expertise of Low Level Waste Repository (LLWR), Radioactive
Waste Management (RWM), and the Nuclear Decommissioning Authority
(NDA) group’s Integrated Waste Management Programme (IWMP). This
creates an organization focused on the management of the UK’s
nuclear waste, safely and securely for generations to come.
We are part of the NDA group, which is
undertaking the biggest clean-up project in Europe over many
decades. Nuclear Waste Services is integral to this environmental
clean-up mission, as we work to provide permanent answers to our
country’s nuclear waste.
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 U.S Department of Energy (“DOE”), the U.S 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.
Please visit us 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”, “plan to”,
“estimates”, “projects”, and similar expressions. Forward-looking
statements include, but are not limited to the market potential for
our services in Europe, as well as the importance of our current
technology offering. 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 or terminates
existing contracts; and the additional factors referred to under
“Risk Factors” and "Special Note Regarding Forward-Looking
Statements" of our 2021 Form 10-K and Form 10-Q for quarter ended
March 31, 2022. 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.
Contacts:David K. Waldman-US
Investor RelationsCrescendo Communications, LLC (212) 671-1021
Herbert Strauss-European Investor Relationsherbert@eu-ir.com+43
316 296 316
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