Perma-Fix Joint Venture Awarded $40 Million, 5-Year USACE Contract for Environmental Remediation at the Niagara Falls Storage Site
August 07 2023 - 8:30AM
Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the
“Company”) today announced its joint venture, Enviro-Fix Solutions,
LLC, in which it owns a 45% ownership stake, has been awarded a $40
million, 5-year contract by the Buffalo District of the U.S. Army
Corps of Engineers (USACE) for environmental remediation at the
Niagara Falls Storage Site (NFSS). Enviro-Fix is a joint
venture between ECC of Burlingame, CA and Perma-Fix to provide
remediation and waste management services for the USACE clean-up
mission.
NFSS occupies approximately 1,500 acres of the
original 7,500 acre Lake Ontario Ordnance Works (LOOW), a former
trinitrotoluene manufacturing facility built during the 1940s. In
1944, the LOOW was reassigned to the Manhattan Engineer District
and began to be used as a storage location for radioactive residues
and other radioactive material that resulted from the development
of the atomic bomb. NFSS is a designated Formerly Utilized Sites
Remedial Action Program (FUSRAP) site. FUSRAP was established to
identify, investigate, and cleanup or control sites that were
contaminated above DOE guidelines. Cleanup activities are managed
by USACE under the oversight of the U.S. Department of Energy (DOE)
Office of Legacy Management.
Mark Duff, Chief Executive Officer, stated, “We
are honored that our joint venture has been awarded this important
contract by USACE to support the DOE Office of Legacy Management’s
mission to support post-closure responsibilities of the FUSRAP
sites, as well as ensure the future protection of human health and
the environment. This selection highlights our technical
capabilities and prior success in remediating such sites and safely
disposing of hazardous materials.”
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 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.
Contacts:David K. Waldman-US
Investor RelationsCrescendo Communications, LLC (212) 671-1021
Herbert Strauss-European Investor Relationsherbert@eu-ir.com +43
316 296 316
PermaFix Environmental S... (NASDAQ:PESI)
Historical Stock Chart
From Apr 2024 to May 2024
PermaFix Environmental S... (NASDAQ:PESI)
Historical Stock Chart
From May 2023 to May 2024