Perma-Fix Announces Exclusive Agreement With Kurion, Inc. to Advance New Treatment Technologies for Complex Nuclear Waste
ATLANTA, GA -- (MARKETWIRE) -- 03/05/13 -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced it has partnered with Kurion, Inc., to pursue deployment of Kurion's GeoMelt® In-Container Vitrification (ICV™) at Perma-Fix's fixed facilities. Kurion is a clean energy company that creates technological solutions that minimize and stabilize nuclear and hazardous waste for safe, secure and permanent disposal.
Kurion's GeoMelt® ICV™ turns certain components of nuclear waste into glass through a process known as vitrification (a volume reduction and stabilization process that immobilizes waste in a leach-resistant glass matrix so that the resulting waste form provides the ultimate assurance of long-term environmental isolation). The ICV™ is a cost-effective, modular, robust and easily deployable in-container and low-cost application of vitrification. The ICV™ is ideal for tank, mixed, debris-laden or pre-containerized waste streams where temperature, glass former and process flexibility is important to address waste streams with varying and/or challenging chemistries and densities. GeoMelt® has been used around the world and has many different applications.
Targeted waste streams for processing and demonstration of capabilities include Class B or C nuclear power plant primary or radwaste resins, filters, sludges; sealed sources; and those required by customers to be vitrified, such as certain Hanford Low Activity Wastes (LAW).
Dr. Louis F. Centofanti, Chairman and CEO of Perma-Fix, commented, "We believe that this collaboration will allow us to treat a variety of highly complex nuclear waste streams that we believe currently have no other commercially available treatment and disposal options. We are excited to work exclusively with Kurion in advancing this discriminating technology in the U.S. and other strategic markets."
Ralph DiSilbo, Chairman and CEO of Kurion, stated, "Perma-Fix, a pioneer and technology leader in treating a variety of nuclear waste streams, is the ideal partner to help further our own advanced technologies. Together, we look forward to addressing some of the most challenging nuclear waste streams around the world. Perma-Fix's permitted facilities, including its Perma-Fix Northwest facility in Hanford, Washington, are ideally suited for processing a variety of domestic nuclear waste streams."
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear 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 Department of Energy ("DOE"), the 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.
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, including but not limited to the type of nuclear waste that can be treated by ICV™. 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; our ability to apply and market this technology; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2011 Form 10-K and our quarterly reports on Form 10-Q filed during 2012. 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.
Company Contact:
Anne Smith
Perma-Fix Environmental Services
asmith@perma-fix.com
(865) 342-7668
Investor Relations:
David K. Waldman
Crescendo Communications
pesi@crescendo-ir.com
(212) 671-1021
European IR:
Herbert Strauss
herbert@eu-ir.com
+43 316 296 316
Released March 5, 2013