Form 8-K - Current report

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 Finalization of this award is subject to execution of a contract by the parties and, until executed, may be withdrawn by the contracting authority.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.

Exhibit		Description

99.1		Press release of the Company dated November 28, 2023.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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

Cover	Nov. 28, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 28, 2023
Entity File Number	1-11596
Entity Registrant Name	PERMA FIX ENVIRONMENTAL SERVICES INC
Entity Central Index Key	0000891532
Entity Tax Identification Number	58-1954497
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	8302 Dunwoody Place
Entity Address, Address Line Two	Suite 250
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30350
City Area Code	(770)
Local Phone Number	587-9898
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, Par Value, $.001 Per Share
Trading Symbol	PESI
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false