Perma-Fix Joint Venture Awarded $40 Million, 5-Year USACE Contract for Environmental Remediation at the Niagara Falls Storage Site

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Perma-Fix Environmental Services, Inc. announced that its joint venture, Enviro-Fix Solutions, LLC, has been awarded a $40 million, 5-year contract for environmental remediation at the Niagara Falls Storage Site.

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• Perma-Fix Environmental Services, Inc. has been awarded a $40 million, 5-year contract for environmental remediation at the Niagara Falls Storage Site.

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ATLANTA, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced its joint venture, Enviro-Fix Solutions, LLC, in which it owns a 45% ownership stake, has been awarded a $40 million, 5-year contract by the Buffalo District of the U.S. Army Corps of Engineers (USACE) for environmental remediation at the Niagara Falls Storage Site (NFSS). Enviro-Fix is a joint venture between ECC of Burlingame, CA and Perma-Fix to provide remediation and waste management services for the USACE clean-up mission.

NFSS occupies approximately 1,500 acres of the original 7,500 acre Lake Ontario Ordnance Works (LOOW), a former trinitrotoluene manufacturing facility built during the 1940s. In 1944, the LOOW was reassigned to the Manhattan Engineer District and began to be used as a storage location for radioactive residues and other radioactive material that resulted from the development of the atomic bomb. NFSS is a designated Formerly Utilized Sites Remedial Action Program (FUSRAP) site. FUSRAP was established to identify, investigate, and cleanup or control sites that were contaminated above DOE guidelines. Cleanup activities are managed by USACE under the oversight of the U.S. Department of Energy (DOE) Office of Legacy Management.

Mark Duff, Chief Executive Officer, stated, “We are honored that our joint venture has been awarded this important contract by USACE to support the DOE Office of Legacy Management’s mission to support post-closure responsibilities of the FUSRAP sites, as well as ensure the future protection of human health and the environment. This selection highlights our technical capabilities and prior success in remediating such sites and safely disposing of hazardous materials.”

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 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.

Please visit us at http://www.perma-fix.com.

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

Herbert Strauss-European Investor Relations
herbert@eu-ir.com
+43 316 296 316

FAQ

What is the contract amount for the environmental remediation at the Niagara Falls Storage Site?

The contract amount for the environmental remediation at the Niagara Falls Storage Site is $40 million.

Who awarded the contract for the remediation project?

The contract was awarded by the Buffalo District of the U.S. Army Corps of Engineers (USACE).

Who is the joint venture partner in Enviro-Fix Solutions, LLC?

The joint venture partner in Enviro-Fix Solutions, LLC is ECC of Burlingame, CA.