Parsons Completes Holistic PFAS Investigation, Sampling and Remediation Project for Fortune 100 Industrial Leader
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Insights
Addressing the presence of per- and polyfluoroalkyl substances (PFAS) in industrial settings is a critical environmental and public health issue. PFAS are known as 'forever chemicals' due to their persistence in the environment and potential to accumulate in living organisms, including humans. The successful remediation of these substances by Parsons Corporation demonstrates a significant technological and process-oriented advancement in the field of environmental management.
Their approach, which included the development of a mobile treatment system, allowed the client to maintain operational continuity, which is a substantial value proposition. This not only minimizes economic losses for the client but also showcases Parsons' capability to handle complex environmental challenges without disrupting business operations. The fact that they treated and disposed of 500 dry tons of sediment and 4,000,000 gallons of water to non-hazardous levels indicates a large-scale and effective treatment capacity.
For stakeholders, this represents a dual benefit: the reduction of environmental liability and the avoidance of operational downtime. From a broader perspective, Parsons' ability to execute such projects could lead to increased demand for their services, especially as regulatory pressures surrounding PFAS management intensify globally.
Parsons Corporation's announcement of the successful PFAS remediation project has several financial implications. Firstly, the completion of a project for a Fortune 100 industrial client enhances Parsons' reputation and demonstrates their expertise in a niche but increasingly important field. This could potentially lead to new contracts and partnerships, positively impacting future revenue streams.
Furthermore, the use of a custom-designed mobile treatment system represents a cost-effective solution for clients, which could become a competitive advantage for Parsons. By eliminating the need for clients to invest in long-term equipment, Parsons is not only offering a service but also a cost-saving opportunity, which is attractive to businesses looking to manage their environmental liabilities without incurring significant capital expenditures.
Investors might view this development as an indicator of Parsons' growth potential in the environmental management sector, which could influence the company's stock market performance. The ability to deliver complex environmental services efficiently may be factored into the company's valuation and if similar contracts are secured in the future, it could lead to an upward trend in the company's financial performance.
The environmental sector, particularly the segment dealing with PFAS remediation, is expected to grow as awareness and regulation of these substances increase. Parsons Corporation's successful project positions them well within this market. Their expertise in hydrogeology, human health, ecological risk assessment, remediation and modeling is now proven in a practical setting, which can be a strong selling point for future clients concerned with environmental compliance and sustainable operations.
Given the scale and complexity of PFAS issues, companies that can offer end-to-end solutions, from assessment to treatment, are likely to capture a larger market share. Parsons' integrated approach and the demonstrated capability to handle large volumes of contaminated material efficiently could set a new industry benchmark. This may pressure competitors to innovate similarly, potentially leading to a surge in research and development within the industry.
For businesses operating in sectors with potential PFAS exposure, the availability of such services is critical. It allows them to address environmental concerns proactively, potentially reducing future liabilities and ensuring compliance with ever-tightening regulations. As a result, the demand for Parsons' services could see a significant increase, which would have a positive impact on their market positioning and financial stability.
CHANTILLY, Va., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced that the company has completed a comprehensive assessment, investigation, and treatment of per- and polyfluoroalkyl substances (PFAS) for a major Fortune 100 industrial client.
Over the course of a 6-month contract, Parsons studied the manufacturing facility, took samples of the water and sediments, and tested the samples at the company’s Water Treatability Laboratory in Syracuse, New York. When the samples tested positive for PFAS, Parsons developed and fielded a mobile treatment system to keep the facility on-line while the impacted water and sediments were pumped out, treated, and disposed.
"PFAS is one of today’s most significant, widespread environmental issues that impacts the safety and health of our communities,” said Mark Fialkowski, president, Infrastructure North America for Parsons. "Completing this project from investigation to treatment – without causing downtime for the facility – is a testament to the innovation, creativity, and expertise of our multidisciplinary PFAS team, and helps our company continue delivering a better world.”
The project generated nearly 500 dry tons of sediment and treated approximately 4,000,000 gallons of water. The sediment was consolidated and PFAS concentrations were reduced to non-hazardous levels for offsite disposal. The water was treated to reduce PFAS concentrations to levels below detection limits such that the treated water could be disposed of onsite. The manufacturing facility did not experience any delays, shutdowns or interruptions related Parsons’ operations during the course of this project.
By utilizing a custom-designed mobile treatment system, the customer did not need to purchase or install equipment for the long-term. The Parsons Water Treatability Lab has been a powerhouse of water treatment innovation for more than 30 years. The research and treatment process lab played a key role in identifying PFAS during this project and developing the mitigation plan.
Parsons is a global leader in water and wastewater treatment, with a team of PFAS experts focused on hydrogeology, human health, ecological risk assessment, remediation, and modeling. This combination of knowledge positions the company to mitigate risks and liabilities through insight, advocacy, risk assessment, risk communication, remediation, and treatment.
To learn more about Parsons’ PFAS expertise, visit Parsons.com/pfas/.
About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
Media Contact:
Chelsie McKittrick
+1 512.719.6877
chelsie.mckittrick@parsons.com
Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@parsons.com
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