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PERMA FIX ENVIRONMENTAL SERVICES INC
0000891532
2023-11-28
2023-11-28
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported) November 28, 2023
PERMA-FIX
ENVIRONMENTAL SERVICES, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
1-11596
|
|
58-1954497 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
8302
Dunwoody Place, Suite 250, Atlanta, Georgia |
|
30350 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (770) 587-9898
Not
applicable
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Trading
Symbol |
|
Name
of each exchange on which registered |
Common
Stock, Par Value, $.001 Per Share |
|
PESI |
|
NASDAQ
Capital Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2
of the Securities Exchange Act of 1934.
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Item
8.01 – Other Events.
On
November 28, 2023, Perma-Fix Environmental Services, Inc. (the “Company”) received notification from the European Commission
of its intent to award a joint venture of which the Company and Campoverde Srl are 50/50 joint venture partners, a multi-year contract,
valued at up to EUR 50 million, for the treatment of radioactive waste from the Joint Research Center (“JRC”) in Ispra, Italy.
Finalization of this award is subject to execution of a contract by the parties and, until executed, may be withdrawn by the contracting
authority.
Section
9 – Financial Statements and Exhibits
Item
9.01. Financial Statements and Exhibits
(d)
Exhibits.
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
November 29, 2023
|
PERMA-FIX ENVIRONMENTAL SERVICES, INC. |
|
|
|
|
By: |
/s/
Mark Duff |
|
|
Mark
Duff |
|
|
President,
Chief Executive Officer and Director |
Exhibit 99.1
Perma-Fix Joint Venture Receives Notice of Intent
to Award European
Waste Treatment Contract Valued at up to EUR 50 Million
Provides update on Test Bed Initiative for offsite
treatment
and disposal of Hanford Low Activity Waste
ATLANTA – November 28, 2023 – Perma-Fix
Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced it has been notified by the European Commission
(EC) of its intent to award a joint venture of which the Company and Campoverde Srl are 50/50 partners, a multi-year contract, valued
at up to EUR 50 million, for the treatment of radioactive waste from the Joint Research Center (JRC) in Ispra, Italy. Finalization of
this award is subject to execution of a contract by the parties and, until executed, may be withdrawn by the contracting authority.
Mark Duff, Chief Executive Officer, stated, “We
are honored that the European Commission has selected the Company’s joint venture with Campoverde Srl to support its radioactive
waste cleanup mission. This selection follows an extensive evaluation, and I am pleased to report that we met or exceeded all the requirements
for this important project. Moreover, we view this project as an entrée to expand our offering within Europe, and look forward
to providing comprehensive, safe and environmentally compliant solutions in this important market.”
The Company also provided an update on the Test Bed
Initiative for offsite treatment and disposal of Hanford Low Activity Waste (LAW). Mr. Duff further noted, “The United States Environmental
Protection Agency (EPA) today released a proposal to grant a treatability variance from the Land Disposal Restrictions (LDR) treatment
standards for the U.S. Department of Energy (DOE) for approximately 2,000 gallons of mixed low-activity waste from the Hanford Site in
Washington State. If the variance is granted, DOE announced the waste could be stabilized and disposed of at the nation’s two long-term
disposal landfills in Texas and Utah. This is consistent with past statements by the DOE that it is seeking to fulfill its obligation
to define multiple pathways for grouting as a supplemental alternative to vitrification. In 2017, Perma-Fix completed a successful grouting
demonstration at our Richland facility and DOE has recognized this performance as a key component of the overall grouting evaluation.
Perma-Fix remains confident that our Northwest facility provides the safest, lowest-risk and most cost-effective option for this waste,
by grouting tank waste locally in Richland, Washington, adjacent to the Hanford Site. The DOE has been highly supportive of our offering,
which would include the use of local union labor to grout the tank waste, and would utilize rail to transport stabilized tank waste to
the disposal facilities adjacent to the Hanford Site. We firmly believe our solution offers the lowest risk for grouting and transport
for disposal, by eliminating the need to transport liquid waste across the country.” Mr. Duff noted that comments on the proposal
must be received by the EPA no later than December 28, 2023.
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”, “plans to”, “estimates”,
“projects”, and similar expressions. Forward-looking statements include, but are not limited to: execution of the joint venture
contract by the European Commission and the joint venture parties; entrée to expand our offering within Europe; beliefs about the
Company’s product offering in the Test Bed Initiative. There are a variety of factors which could cause future outcomes to differ
materially from those described in this release, including, without limitation, failure to execute the definitive contract with the EC;
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 or terminates existing contracts;
and the additional factors referred to under “Risk Factors” and “Special Note Regarding Forward-Looking Statements”
of our 2022 Form 10-K and Form 10-Qs for quarters ended March 31, 2023, June 30, 2023 and September 30, 2023. 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 Relations
Crescendo Communications, LLC
(212) 671-1021
Herbert Strauss-European Investor Relations
herbert@eu-ir.com
+43 316 296 316
v3.23.3
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PERMA FIX ENVIRONMENTAL SERVICES INC
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0000891532
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|
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DE
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8302
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