Perma-Fix Becomes First Company to Treat Radioactively Contaminated Liquid Elemental Mercury Waste
OAK RIDGE, Tenn., April 10 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI; BSE) (Germany: PES.BE) today announced that it has completed successful treatment of radioactively contaminated liquid elemental mercury waste, which has been accomplished through proprietary technologies, developed in cooperation with ADA Technologies, Inc. Much of this waste has been in storage since the early Cold War, awaiting a treatment methodology that would render the waste acceptable for disposal.
Since the early 1950s, mercury has been widely used throughout the Department of Energy (DOE) complex for activities associated with the production of weapons and various research and development projects. The legacy is more than 50,000 cubic meters of low-level radioactive and transuranic wastes co-contaminated with mercury. Radioactively contaminated mercury wastes require complex treatment processes that meet the requirements of federal regulations and disposal site criteria. Perma-Fix and ADA have partnered to address the different types of legacy mercury wastes so that the government and commercial sectors will have a safe and proven means to dispose of these wastes. The availability of this elemental treatment system offers the government and commercial sectors a breakthrough treatment option for this problematic waste stream.
Dr. Louis F. Centofanti, Perma-Fix chairman and chief executive officer, commented, "We are excited to begin this treatment process that will support the DOE's effort to clean up legacy waste generated at sites throughout the United States. This new treatment technology expands our capabilities and is another example of how Perma-Fix is working diligently to commercialize technologies to address such problematic waste streams, existing at government and industrial facilities."
Cliff Brown, President of ADA Technologies, stated, "Aligning ourselves with Perma-Fix, enables ADA to implement our breakthrough technologies with the support of one of the foremost waste treatment companies in the U.S. Importantly, we foresee tremendous opportunity for future technologies, which we are currently developing in cooperation with Perma-Fix." ADA Technologies, based in Littleton, Colorado, is a leading developer of commercial environmental technologies, which assist with waste cleanup and resource conservation.
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 information concerning possible or assumed treatment capabilities, viability of this mercury treatment technology, commercializing technologies to solve problematic waste streams and the Company's support of DOE's efforts to clean up legacy waste. 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 apply and market its technologies, or the DOE's failure to deliver waste as anticipated. 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 of Perma-Fix Environmental Services, Inc., +1-404-847-9990; or Investor Relations, Stan Altschuler or David Waldman, both of Strategic Growth International, Inc., +1-516-829-7111, or info@sgi-ir.com, for Perma-Fix; or European Investor Relations, Herbert Strauss, +011-43676-43676-77, or herbert@eu-ir.com, for Perma-Fix; or Media Relations, Stephanie Stern, sstern@sternco.com, or Stan Froelich, sfroelich@sternco.com, +1-212-888-0044, for Perma-Fix
Released April 10, 2002