Perma-Fix Announces Breakthrough Process for On-site Destruction of VX Nerve Agent By-Product
Environmentally Safe Process Operates at Ambient Temperatures and Pressures,
Eliminates Need for Water Discharge and Eliminates Transportation Concerns
ATLANTA, April 28 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) (BSE: PESI) (Germany: PES.BE) announces that it has completed work on modifying its VX hydrolysate destruction process for mobile on-site use. The proprietary process combines chemical destruction and biological treatments. This new breakthrough process operates at ambient temperatures, results in zero liquid release to the local community and eliminates all transportation concerns due to its proposed on-site processing. We believe that the new design features will achieve, for our customers, reduced capital and operating cost, shorter permitting times and an environmentally superior system, as compared to current alternatives.
VX nerve agent is an organic-phosphorus compound formerly produced by the United States and other countries as a chemical weapon. Conventional alternatives for the destruction of VX by-product include dilution, incineration and super-critical water oxidation.
Dr. Louis F. Centofanti, Chairman and CEO, states, "We believe that our new technology will be far safer and much more environmentally friendly than conventional alternatives; and unlike other methods, it operates at room temperature and there is no liquid discharge into the community. By adapting our proven technology to on-site use, we have also eliminated any concerns surrounding the transportation of agents and their by-products. The process versatility allows it to be adapted to other chemical weapons as well."
"It is estimated that there are more than 70,000 tons of nerve agents globally, the majority of which are in the U.S. and Russia, and only 10,500 have been treated to date. Those weapons stored within the U.S. pose a tremendous risk to our national security. In addition, most chemical weapons producing countries, including the United States, have signed an international treaty requiring the destruction of these weapons and their by-products by April 2007, with no extensions allowed past April 2012. We believe this technology can play a critical role in the United States, Russia and the other 165 countries around the world that are a party to the Chemical Weapons Convention," concluded Dr. Centofanti.
VX hydrolysate is produced by the neutralization of VX nerve agent with sodium hydroxide. The product is a complex mixture of various phosphonates, amines and sulfur compounds. The breakthrough process utilizes chemical oxidation of the components and then converts phosphorus-bearing materials into mineralized metal salts. The biological step converts organic components into carbon dioxide and water. The treated water is then recycled back into the process. The process operates at ambient temperature and pressure and destroys any remaining VX and VX by-product compounds. The only remaining product is a non-toxic, non-hazardous solid that can be safely disposed of with no related health risks or risks to the environment.
The process has been demonstrated by Perma-Fix on actual VX by-product. The process has also been demonstrated to meet chemical weapons treatment standards, as currently in place. Patents on the process were applied for in early 2004 and additional applications are being submitted to further solidify the Company's intellectual property protection.
Perma-Fix Environmental Services, Inc. is a national environmental services company, providing unique mixed waste and industrial waste management services. The Nuclear Segment provides radioactive and mixed waste treatment services to hospitals, research laboratories and institutions, numerous federal agencies including the Departments of Energy and Defense and nuclear utilities. The Industrial Segment provides hazardous and non-hazardous waste treatment services for a diverse group of customers including Fortune 500 companies, numerous federal, state and local agencies and thousands of smaller clients. The Company operates eleven major waste treatment facilities across the country.
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 include, but are not limited to, information concerning the statement that our technology is far safer, much more environmentally friendly, is adaptable to other chemical weapons, reduces our customer's capital and operating costs, and shortens permitting times and can play a critical role to countries that are a party to the Chemical Weapons Convention. 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, regulatory restrictions, the ability of the Company to apply and market such a technology, changes to the agreements under the Chemical Weapons Convention, ability to obtain a patent on this new process or new technological changes that occur after the date hereof. 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.
Please visit us on the World Wide Web at http://www.perma-fix.com .
SOURCE Perma-Fix Environmental Services, Inc.
-0- 04/28/2005
/CONTACT: Dr. Louis F. Centofanti, Chairman and CEO, Perma-Fix
Environmental Services, Inc., +1-404-847-9990; or Investors, David Waldman,
dwaldman@lhai.com, or John Heilshorn, both of Lippert/Heilshorn & Associates,
+1-212-838-3777; or Herbert Strauss-European investor relations in Austria,
+011-43-316-296-316, or herbert@eu-ir.com, all for Perma-Fix Environmental
Services, Inc./
/Web site: http://www.perma-fix.com /
(PESI)
CO: Perma-Fix Environmental Services, Inc.
ST: Georgia
IN: ENV
SU: PDT LEG POL
DS-SP
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8815 04/28/2005 08:30 EDT http://www.prnewswire.com
Released April 28, 2005