ATLANTA, Jan. 31, 2011 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (Nasdaq:PESI) has been awarded a one year $4.1 million contract from Energy Northwest, a leading power supplier to the Pacific Northwest U.S., for the treatment and disposition of low-level radioactive wastes. Energy Northwest's Columbia Generating Station has awarded this contract to Perma-Fix's wholly owned subsidiary Perma-Fix Northwest (PFNW) located in Richland, Washington to provide radioactive material removal and disposition services that will be needed for the nuclear power plant's upcoming condenser replacement project.
Energy Northwest is a joint operating agency comprised of 28 public utilities that serve ratepayers throughout the State of Washington. Energy Northwest owns and operates four electricity generating projects including the Columbia Generating Station located near Richland, Washington. Energy Northwest's mission is to provide responsible and cost-effective energy solutions to the Northwest region's ratepayers. As such, Energy Northwest strives to provide reliable power at the least cost while protecting the environment, the public, and its employees.
Energy Northwest solicited experienced contractors that could support its upcoming refueling outage by providing turn-key, innovative solutions to safely and cost effectively manage approximately 3 million pounds of condenser tubes, piping, structural steel, and other related radioactively contaminated wastes.
Perma-Fix is a leading provider of radioactive waste management solutions throughout the U.S. to generators ranging from nuclear utilities to government agencies. The Perma-Fix Northwest facility has operated in Richland, Washington since 1993. Perma-Fix purchased the facility in 2007 and has made significant upgrades to the facility so that it can support commercial and government radioactive waste generators in Washington as well as throughout the U.S. PFNW is located approximately 15 miles from the Columbia Generating Station and has provided radioactive waste management services to the plant for a number of years.
Dr. Louis F. Centofanti, Perma-Fix chairman and chief executive officer, said "PFNW's close proximity to the Columbia Generating Station, expertise, licensed facilities, and personnel will provide Energy Northwest with the confidence that its condenser replacement project and outage are supported in a safe and reliable manner. This is the largest nuclear utility project that our company has performed to date, and represents the significant work and investment in our PFNW facility that will provide the necessary facilities and processes to safely manage these wastes. We have been fortunate to have a strong and established relationship with Energy Northwest, the local community and regulatory agencies and look forward to providing our services for this important project. "
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc., a national environmental services company, provides unique mixed waste and industrial waste management services, both at the Company's four major nuclear waste treatment facilities and on the customer site. The Company's primary focus is on nuclear services, including radioactive and mixed waste treatment services for hospitals, research labs and institutions, federal agencies, including DOE, DOD, and nuclear utilities.
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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 identified by use of words such as "believe", "expects", "intends", "anticipates", "plans to", "projects" and similar expressions. Forward looking statements include, but are not limited to, the value of the contract with Energy Northwest and that the waste is safely managed. These forward‑looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. 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, changes in government regulations, that Energy Northwest does not terminate the contract prior to expiration of its term or takes any action to reduce the amount of waste that the Company believes it will be required to store, treat or dispose of under the contract; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2009 Form 10-K, and Form 10-Q for the quarter ended March 31, 2010, June 30, 2010, and September 30, 2010. 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.
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