Clean Earth Joins in Department of Defense Study for PFAS Remediation

Rhea-AI Summary

Clean Earth, a division of Enviri Corporation (NYSE: NVRI), has been selected by the U.S. Department of Defense for a critical PFAS remediation study, positioning the company as a key player in providing commercial PFAS treatment options. Clean Earth's engagement in this project showcases its expertise and capabilities in environmental management and remediation, making it a high-priority project for the company. The partnership with the U.S. DoD and other leading companies in the field demonstrates the potential for advanced and cost-effective solutions to tackle PFAS contamination.

Insights

Environmental Management Expert

PFAS, or per- and polyfluoroalkyl substances, have emerged as a significant environmental concern due to their persistence and potential health risks. The partnership between Clean Earth and the U.S. Department of Defense to demonstrate PFAS remediation technologies is a critical development in environmental management. It addresses the urgent need for effective treatment options that can be deployed across various contamination scenarios. The engagement of Clean Earth, with its extensive experience in environmental services, suggests a proactive approach to managing these 'forever chemicals'.

The project's success could lead to widespread commercial applications for PFAS remediation, potentially benefiting Clean Earth financially. Moreover, this collaboration may set a precedent for future public-private partnerships in addressing complex environmental challenges. It's essential to monitor the scalability of the remediation technologies and their cost-effectiveness, as these factors will significantly influence their adoption and impact on Clean Earth's business performance.

Market Analyst

The announcement of Clean Earth's involvement in a Department of Defense prototype project for PFAS remediation presents potential market implications. As a division of Enviri Corporation, Clean Earth's participation could signal investor confidence in the company's expertise and prospects for growth in the environmental sector. The project aligns with increasing regulatory scrutiny and market demand for environmental remediation services, particularly for contaminants like PFAS.

Should the project demonstrate effective and scalable solutions, it could lead to significant contracts for Clean Earth, directly impacting Enviri Corporation's revenue streams. Stakeholders should consider the potential for increased market share and enhanced reputation in the environmental management space. However, it's crucial to assess the project's progress and outcomes, as any setbacks could affect investor sentiment and the stock performance of NVRI.

Financial Analyst

The strategic partnership with the DoD positions Clean Earth favorably within the niche market of PFAS remediation. Financially, this could translate into a competitive advantage and a steady revenue source, assuming the prototype project leads to further government contracts. The long-term financial implications for Enviri Corporation hinge on the project's ability to deliver results that meet the DoD's requirements and the broader market's adoption of the technologies.

Investors should examine the capital expenditure involved in scaling up these technologies and the potential return on investment. Additionally, the ability to offer sustainable solutions that minimize long-term risk could attract environmentally conscious investors, potentially leading to an increase in Enviri Corporation's shareholder value. It is pertinent to analyze future financial statements for R&D expenses and revenue from government contracts to gauge the actual financial impact of this partnership.

• Clean Earth will partner with the U.S. Department of Defense in a critical PFAS remediation study.
  
• Clean Earth is a leading authority in PFAS with more than three decades of expertise in environmental management, clean up, and remediation.

KING OF PRUSSIA, Pa., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Clean Earth, a division of Enviri Corporation (NYSE: NVRI) and a leading provider of environmental and regulated waste management services, has been tapped by the U.S. Department of Defense (“DoD”) as part of a prototype project to demonstrate remediation technologies for PFAS, per- and polyfluoroalkyl substances. 

In its press release, the DoD calls the project “a major step forward in the effort to provide [it] with commercial PFAS treatment options for a variety of scenarios.” Clean Earth’s engagement in this project positions it to help the U.S. Government better understand its capabilities and dovetails with the company’s network of facilities, logistics capabilities, and ever-expanding toolbox of PFAS management technologies.  

"This proof of concept will demonstrate our team’s capability to successfully remediate this critical environmental issue,” said Jeff Beswick, President of Clean Earth. “This is a high-priority project, and we stand prepared to support and demonstrate how these processes can remediate PFAS, helping the DoD achieve its mission while being friendly to the environment. In this project, Clean Earth is the hub in the DoD’s hub and spoke strategic remediation approach." 

Clean Earth and five other companies, Aquagga, Arcadis, 374Water, Battelle, and General Atomics, will participate in the remediation of PFAS-impacted waste collected from two Department of Defense bases in Pennsylvania (Naval Air Station Joint Reserve Base Willow Grove and Biddle Air National Guard Base, Horsham Township) with the waste being treated at Clean Earth’s offsite locations. 

"This collaboration represents a synergy of exciting technology, world-class expertise, and a practical strategy for scale-up and accelerated commercialization,” said Craig Divine, Ph.D., Arcadis, Senior Vice President and Project Principal Investigator. “As we coordinate this pivotal project's implementation and performance analysis, Arcadis is proud to partner with Clean Earth and 374Water, bringing forth advanced and cost-effective solutions to tackle PFAS contamination.” 

“Clean Earth’s ReSolve™ program has tested various methods to treat PFAS-contaminated soil and water,” said Beswick. “With operations covering all 50 states, Clean Earth can support on-site PFAS remediation or treat it offsite at one of our facilities. Rather than a short-term fix, we are committed to implementing sustainable solutions that minimize the long-term risk for our customers.” 

Further details about Clean Earth's environmental services, sustainability efforts, and future initiatives can be found on the Clean Earth website here.  

About Clean Earth
Clean Earth's vision is to create a better future for our people, partners, and planet by turning specialty waste into recycling opportunities. Clean Earth is one of the largest specialty waste companies in the United States providing remediation, disposal, recycling, and beneficial reuse solutions for hazardous and non-hazardous waste and contaminated materials. Headquartered in King of Prussia, Pennsylvania, it operates a network of 91 locations across the United States. As a leader in the industry, Clean Earth has the experience and capabilities to provide efficient, effective hazardous and non-hazardous waste recycling and disposal solutions and the business’ ReSolve program carries a valuable toolbox of customizable solutions to manage and treat unique per- and poly-fluoroalkyl (PFAS) challenges. Clean Earth’s portfolio of technologies and services touches nearly every industry that generates waste, including energy, infrastructure, commercial, industrial, retail, and healthcare markets. To learn more, visit www.cleanearthinc.com.

About Enviri
Enviri is transforming the world to green as a trusted global leader in providing a broad range of environmental services and related innovative solutions. The Company serves a diverse customer base by offering critical recycle and reuse solutions for their waste streams, enabling customers to address their most complex environmental challenges and to achieve their sustainability goals. Enviri is based in Philadelphia, Pennsylvania and operates in more than 150 locations in over 30 countries. Additional information can be found at www.enviri.com.

Media Contact
Maddie Terefenko
445.448.1570
mterefenko@harsco.com

FAQ

What is the ticker symbol for Clean Earth's parent company?

The ticker symbol for Clean Earth's parent company, Enviri Corporation, is NVRI.

What is the PFAS remediation study that Clean Earth is partnering with the U.S. DoD on?

Clean Earth is partnering with the U.S. Department of Defense in a prototype project to demonstrate remediation technologies for PFAS, per- and polyfluoroalkyl substances.

Which other companies are participating in the remediation of PFAS-impacted waste with Clean Earth?

The other companies participating in the remediation of PFAS-impacted waste with Clean Earth are Aquagga, Arcadis, 374Water, Battelle, and General Atomics.

What is Clean Earth's ReSolve™ program focused on?

Clean Earth's ReSolve™ program is focused on testing various methods to treat PFAS-contaminated soil and water, with operations covering all 50 states.

What are Clean Earth's capabilities in PFAS management technologies?

Clean Earth has a network of facilities, logistics capabilities, and an ever-expanding toolbox of PFAS management technologies, positioning it to help the U.S. Government better understand its capabilities.

What is the significance of Clean Earth's engagement in the PFAS remediation project?

Clean Earth's engagement in the PFAS remediation project demonstrates its capability to successfully remediate this critical environmental issue and positions it as a key player in providing commercial PFAS treatment options.

How many decades of expertise does Clean Earth have in environmental management?

Clean Earth has more than three decades of expertise in environmental management, clean up, and remediation.

Which Department of Defense bases in Pennsylvania are involved in the PFAS remediation project?

The PFAS-impacted waste is collected from Naval Air Station Joint Reserve Base Willow Grove and Biddle Air National Guard Base, Horsham Township, in Pennsylvania.

What is the focus of Clean Earth's commitment to sustainable solutions?

Clean Earth is committed to implementing sustainable solutions that minimize the long-term risk for its customers, rather than a short-term fix.

What is the scope of Clean Earth's operations?

Clean Earth's operations cover all 50 states, allowing it to support on-site PFAS remediation or treat it offsite at one of its facilities.