Perma-Fix Environmental Services Announces Completion of Its First Commercial Bio-Fix(R) Water Treatment Facility
ATLANTA, Sept. 27 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI; BSE)(Germany: PES.BE) today announced that it has completed the construction of its new Bio-Fix(R) process at its Ohio waste treatment facility, and that the facility has begun accepting commercial wastewater for treatment through this process.
The Bio-Fix(R) process is a new technology developed by Perma-Fix that incorporates its patented variable depth biological treatment process with several proprietary water treatment processes to treat, highly organic, contaminated wastewaters, to remove the organic constituents. The process was developed to combine the advantages of physical and chemical treatment with the cost and efficiency advantages of biological systems.
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated that, "The industrial wastewater market is a multi-billion dollar market in the U.S. and our new Bio-Fix(R) process is focused on the more heavily contaminated wastewater streams in this market, such as waste oils, phenols and "lean" waters. The new technology enables Perma-Fix to treat these difficult waste streams at much more competitive prices than traditional methods.
"The new process meets the EPA's new centralized treatment standards that go into effect in 2003. These tightened standards may impact the ability of certain competing treatment facilities to treat such waste streams."
Perma-Fix Environmental Services, Inc. is a national environmental services company, providing unique mixed waste and industrial waste management services. The Company has increased its focus on the nuclear services segment, which 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 services 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 nine 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, the industrial wastewater market being a multi-billion dollar market in the U.S., the Bio- Fix(R) process enabling Perma-Fix to treat certain difficult wastewater streams at more competitive prices and the EPA's new centralized treatment standards impacting the ability of certain competing treatment facilities to treat such waste streams. 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, competitive pressures, the ability of the company to successfully apply and market its Bio-Fix(R) process and unfavorable changes to treatment standards or regulations . 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.
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SOURCE Perma-Fix Environmental Services, Inc.
Web site: http: //www.perma-fix.com
CONTACT: Dr. Louis F. Centofanti, Chairman and CEO, Perma-Fix Environmental Services, Inc., 404-847-9990; or Stan Altschuler, investor relations, Strategic Growth International, Inc., 516-829-7111, or saltschuler@sgi-ir.com; or Herbert Strauss, European investor relations, herbert@eu-ir.com, or +43-676-43-676-77, both for Perma-Fix Environmental Services, Inc.
Released September 27, 2002