Perma-Fix Purchases Mercury Amalgamation Process Rights
ATLANTA, April 26, 2011 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (Nasdaq:PESI), a leading provider of nuclear waste services, today announced the purchase of two mercury treatment technologies from Mercury Control Technologies, LLC, a Colorado-based company. The first patented technology is for mercury amalgamation, which is the U.S. Environmental Protection Agency (EPA) required treatment method for radioactively contaminated elemental mercury. The second patented technology is for mercury stabilization, which is the EPA required treatment method for other chemical forms of mercury. The application of these treatment technologies ensures that radioactive mercury contaminated wastes meet EPA's Land Disposal Restrictions for safe disposal.
Prior to acquiring these technologies, Perma-Fix had been using these processes to treat U.S. Department of Energy (DOE) radioactive mercury contaminated waste since 2002 through a licensing agreement. Perma-Fix is one of only two companies to own the rights to a proven technology for the treatment of radioactively contaminated mercury.
Since the 1950's, mercury has been widely used throughout the DOE weapons complex, resulting in a large amount of legacy waste awaiting treatment. As DOE continues its mission to clean up Cold War sites across the U.S., there is a need to safely and efficiently treat this waste for disposal. Mercury contaminated waste is one of the most difficult waste streams to treat due to the complexities of the different matrices (soil, debris, liquid elemental mercury, etc.) and the regulatory requirements for treatment.
"As owners of these patents, Perma-Fix will be able to expand our mercury treatment capabilities for DOE's inventory of radioactively contaminated mercury as well as provide these capabilities to other market segments. This will strengthen our strategic position to remain the leading treatment provider for challenging waste forms, and provide our clients with solutions to their waste management challenges," stated Dr. Louis Centofanti, President and CEO of Perma-Fix.
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc., a national environmental services company, provides unique mixed waste and industrial waste management services. The Company's increased focus on nuclear services includes radioactive and mixed waste treatment services for hospitals, research labs and institutions, federal agencies, including DOE, DOD, and nuclear utilities. The Company's industrial services treat hazardous and non-hazardous waste for a variety of customers including, Fortune 500 companies, federal, state and local agencies and thousands of other clients. Nationwide, the company operates seven major waste treatment facilities.
The Perma-Fix Environmental Services, Inc. logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=7172
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", "projects", and similar expressions. Forward‑looking statements include, but are not limited to: "Application of these treatment technologies ensures that radioactive mercury contaminated wastes meet EPA's Land Disposal Restrictions for safe disposal" and "as owners of these patents, we will be able to expand our mercury treatment capabilities for DOE's inventory of radioactively contaminated mercury as well as provide these capabilities to other market segments." 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; our ability to apply and market our technologies; validity of the patents purchased; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2010 Form 10-K. 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.
CONTACT: Dr. Louis F. Centofanti, Chairman and CEO
Perma-Fix Environmental Services, Inc.
(770) 587-5155
Herbert Strauss
European Investor Relations
herbert@eu-ir.com
+43 316 296 316
David K. Waldman-US Investor Relations
Crescendo Communications, LLC
(212) 671-1020 x101
Released April 26, 2011