Perma-Fix Among Three Suppliers Awarded Four-Year Framework Contract Worth up to £41 Million for the Treatment and Conditioning of Radioactive Waste in the UK

ATLANTA, July 11, 2022 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced it is one of only three suppliers awarded a Framework Contract by Nuclear Waste Services (NWS), part of the United Kingdom’s (UK) Nuclear Decommissioning Authority (NDA), which is focused on management of the UK’s nuclear waste, safely and securely for generations to come. As a result of the award, Perma-Fix has been selected to compete for firm, fixed-price and cost-reimbursement task orders for the treatment and conditioning of radioactive waste in the UK, with a maximum ceiling of £41 million over four years.

The Framework Agreement includes a variety of services covering the full waste lifecycle, including but not limited to, project management, expert advice, characterization, site preparations, dismantling, transport, segregation, treatment, conditioning and optimized disposal.

Mark Duff, President and CEO of the Company, commented, “Perma-Fix is thrilled to receive the award of this Framework Contract by the UK government’s Nuclear Waste Services, with a total value of up to £41 million across three suppliers for the treatment and conditioning of radioactive waste. This award underscores our view of the market potential for our services in Europe, as well as the importance of our current technology offering, which has proven valuable in the US for over 30 years.”

Dr Craig Ashton, Waste Services Director at NWS, said, “This Framework Contract marks the continued evolution of our service offering to customers as part of a longer-term strategy for generating even greater value and enabling mission acceleration.”

About Nuclear Waste Services

Nuclear Waste Services brings together the UK’s leading nuclear waste management capabilities. We have integrated the expertise of Low Level Waste Repository (LLWR), Radioactive Waste Management (RWM), and the Nuclear Decommissioning Authority (NDA) group’s Integrated Waste Management Programme (IWMP). This creates an organization focused on the management of the UK’s nuclear waste, safely and securely for generations to come.

We are part of the NDA group, which is undertaking the biggest clean-up project in Europe over many decades. Nuclear Waste Services is integral to this environmental clean-up mission, as we work to provide permanent answers to our country’s nuclear waste.

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 U.S Department of Energy (“DOE”), the U.S 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.

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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”, “plan to”, “estimates”, “projects”, and similar expressions. Forward-looking statements include, but are not limited to the market potential for our services in Europe, as well as the importance of our current technology offering. 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 or terminates existing contracts; and the additional factors referred to under “Risk Factors” and "Special Note Regarding Forward-Looking Statements" of our 2021 Form 10-K and Form 10-Q for quarter ended March 31, 2022. 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.

David K. Waldman-US Investor Relations
Crescendo Communications, LLC
(212) 671-1021

Herbert Strauss-European Investor Relations
+43 316 296 316

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Source: Perma-Fix Environmental Services, Inc