Perma-Fix Partners with Veolia Nuclear Solutions to Expand Treatment Capabilities
Marks launch of expansion initiative at Perma-Fix Northwest Facility
ATLANTA, GA -- (Marketwired) -- 01/29/18 -- Perma-Fix Environmental Services, Inc. (the "Company") (NASDAQ: PESI) today announced a Cooperation Agreement with Veolia Nuclear Solutions. Under the agreement, Veolia Nuclear Solutions will provide its patented GeoMelt® system, cooperatively installed and operated by Perma-Fix at its Perma-Fix Northwest (PFNW) facility in Richland, Washington. Perma-Fix and Veolia Nuclear Solutions plan to perform treatability studies to demonstrate the system's capability to safely treat metallic, non-bulk sodium contaminated waste, which is generated from the sodium coolant used in certain types of nuclear reactors.
The treatability studies are designed to provide vital technical information for future permit modification through the Washington Department of Ecology and Department of Health. The current plan is to complete construction in the third quarter of 2018 and commence waste testing in late 2018.
"Veolia Nuclear Solutions is excited about this partnership with Perma-Fix, which will allow us to demonstrate the capabilities of our technologies for treating these difficult waste streams," said Ryan Dodd, director of the technology group for Veolia Nuclear Solutions Federal Services.
Mark Duff, Chief Executive Officer, stated, "This agreement marks the launch of an expansion initiative at our PFNW facility to broaden our market base by treating complex waste streams through new technologies and partnerships within our industry. We are especially delighted to partner with Veolia Nuclear Solutions, which brings extensive expertise and a wide range of capabilities in the nuclear waste industry. Expanding our PFNW facility to accept and treat these wastes will add a capability not readily available in our industry. This cooperation agreement further illustrates the unique nature of our facilities, permits and capabilities."
Veolia group is the global leader in optimized resource management. With over 163,000 employees worldwide, the Group designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them. In 2016, the Veolia group supplied 100 million people with drinking water and 61 million people with wastewater service, produced 54 million megawatt hours of energy and converted 30 million metric tons of waste into new materials and energy. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of EUR24.39 billion in 2016. www.veolia.com
About Veolia Nuclear Solutions
Veolia's Nuclear Solutions, which unites the best-in-class operations of Veolia's Kurion, Alaron and Asteralis businesses, is a leading world-class player in nuclear facility clean-up and treatment of radioactive waste. It provides the most comprehensive range of technologies, expertise and services to develop the activity of facility restoration, decommissioning and treatment of low-and intermediate-level radioactive waste. www.nuclearsolutions.veolia.com
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed 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, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates three nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide.
Please visit us on the World Wide Web at http://www.perma-fix.com.
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. Forward-looking statements include, but are not limited to: VNS will provide their patented GeoMelt® system, cooperatively installed and operated by Perma-Fix at its Perma-Fix Northwest (PFNW) facility; Perma-Fix and Veolia Nuclear Solutions plan to perform treatability studies to demonstrate the system's capability to safely treat metallic, non-bulk sodium contaminated waste;the current plan is to complete construction in the third quarter of 2018 and commence waste testing in late 2018; this agreement marks the launch of an expansion initiative at our PFNW facility in Richland, Washington to broaden our market base by treating complex waste streams through new technologies and partnerships within our industry; and, expanding our PFNW facility to accept and treat these wastes will add a capability not readily available in our industry. 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 our new technologies; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; inability to win bid projects; that Congress fails to provides continuing funding for the DOD's and DOE's remediation projects; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of, our 2016 Form 10-K and Forms 10-Q for quarters ended March 31, 2017, June 30, 2017 and September 30, 2017. 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.
David K. Waldman-US Investor Relations
Crescendo Communications, LLC
Herbert Strauss-European Investor Relations
+43 316 296 316
Source: Perma-Fix Environmental Services, Inc.
Released January 29, 2018