Perma-Fix Environmental on Winning Team for Contracts to Treat DOE Waste Worth up to $100 Million; These Awards are the Largest Contracts in Company's History.ATLANTA--(BUSINESS WIRE)--Aug. 13, 1998--Perma-Fix Environmental Services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PESI) (GERMANY:PES pes (pes) pl. pe´des [L.] 1. foot. 2. any footlike part. pes n. pl. pe·des 1. The foot. 2. .BE) and its President, Dr. Louis Centofanti, announced Thursday that its team led by East Tennessee East Tennessee is a name given to approximately the eastern third of the state of Tennessee. Unlike the names given to regions or portions of many of U.S. states, the term East Tennessee can be precisely defined. Materials and Energy Corp. (M&EC) has been awarded three contracts by Bechtel Jacobs Bechtel Jacobs Company LLC is a limited liability partnership of Bechtel and Jacobs Engineering Group that serves as the primary contractor to the U.S. Department of Energy (DOE) for waste management and environmental remediation activities on DOE-managed federal government Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control for the US Department of Energy under its Broad Spectrum mixed waste procurement. The award for the three separate contracts was made by Bechtel Jacobs Co. of Oak Ridge Oak Ridge, city (1990 pop. 27,310), Anderson and Roane counties, E Tenn., on Black Oak Ridge and the Clinch River; founded by the U.S. government 1942, inc. as an independent city 1959. , Tenn., and is estimated to be worth up to $100 million to be shared by the entire team during the 5+ year life of the contract. Work on the contracts awarded to the M&EC team would be performed at the M&EC facility currently under development in the East Tennessee Technology Park at Oak Ridge. Perma-Fix's contribution to the team will be its proprietary technologies for treating the mixed waste, installation of the equipment and supervision of the operations of the processes. The facility is intended to allow treatment of government and commercial wastes as part of DOE's reindustrialization program for facilities it no longer uses. The M&EC facility will use displaced workers from the DOE sites whenever possible. Bechtel Jacobs Co. recently assumed management of DOE's Oak Ridge environmental program and is responsible for awarding cleanup contracts for DOE generated wastes at the site. Current estimates indicate that the cleanup of Oak Ridge will take 20 years and cost $5 billion and it will take 75 years and cost more than $200 billion to cleanup the legacy of radioactive waste radioactive waste, material containing the unusable radioactive byproducts of the scientific, military, and industrial applications of nuclear energy. Since its radioactivity presents a serious health hazard (see radiation sickness), disposing of such material is a at DOE and U.S. Army sites. Dr. Louis F. Centofanti, president, commented that: "This major contract award is a significant milestone for PESI after having completed successfully several smaller radioactive cleanup projects for the DOE. The cleanup of radioactive waste at DOE will be the largest cleanup market in the U.S. Our proprietary technologies are cost effective and actually reduce the DOE's disposal costs. This award validates PESI's unique approach to radioactive cleanup and bodes well for our abilities to secure additional awards in this enormous, multi-billion dollar effort." The Perma-Fix Process(tm) converts hazardous low-level radioactive waste Noun 1. low-level radioactive waste - (medicine) radioactive waste consisting of objects that have been briefly exposed to radioactivity (as in certain medical tests) into a non-hazardous radioactive waste that can be disposed of. The process treats acids, bases, reactives and metal wastes. The Perma-Fix II Process(tm) is a non-thermal, water-based chemical destruction technology that destroys organic contaminants, especially in soils, solids, sludges and liquids. The process has been used successfully to treat a wide variety of organic contaminants, including PCB's, hydrocarbons, chlorinated chlorinated /chlo·ri·nat·ed/ (klor´i-nat?ed) treated or charged with chlorine. chlorinated charged with chlorine. chlorinated acids some, e.g. and F-listed materials (Hazardous components). Due to its low temperature and design, the process controls emissions of volatile radioactive isotopes, including C14 and tritium tritium (trĭt`ēəm), radioactive isotope of hydrogen with mass number 3. The tritium nucleus, called a triton, contains one proton and two neutrons. It has a half-life of 12.5 years and decays by beta-particle emission. . This release contains "forward-looking statements" that are subject to risks and uncertainties. Forward-looking statements include, but are not limited to the information concerning possible or assumed future results of operations of the company. 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 the technology and the actual value of the contract work received. Perma-Fix Environmental Services, Inc. provides unique hazardous, mixed and industrial waste management services, along with environmental engineering and consulting services. The Perma-Fix Process is a proprietary mobile treatment technology that converts hazardous, low-level radioactive waste into a non-hazardous material that can be disposed of. The process is simple, safe, creates little or no volume increase, reduces radioactive emissions through densification and is the most cost-effective option on the market today for the cleanup of mixed waste. The company is widely recognized for meeting customer needs with technologically advanced alternatives to traditional landfill and incineration incineration the act of burning to ashes. methods. The company plans to accelerate its acquisition activity within the highly fragmented industrial waste industry. CONTACT: Perma-Fix Environmental Services Inc., Atlanta Dr. Louis F. Centofanti, President 404/847-9990 or Liviakis Financial Communications Inc. Robert B. Prag, Sr. V.P. 916/448-6084 or Karl H. Ehlert, Conseiller (011) 34 971 825 719 |
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