Date: November 28, 2008
Source: Perma-Fix Environmental Services, Inc.
Commercial Permit to Treat Radioactive PCBs in the U.S. Issued to Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) today announced it has received its commercial permit in the U.S. from the U.S. Environmental Protection Agency (EPA) Region 4 to commercially store and dispose of radioactive Polychlorinated Biphenyls (PCB's) at the Company's Diversified Scientific Services, Inc. (DSSI) subsidiary facility located in Tennessee.
Perma-Fix's DSSI facility uses an EPA-authorized waste fuel boiler unit for the thermal destruction of radioactive and mixed (radioactive and hazardous) liquids and semi-solid wastes. In 2004, Perma-Fix DSSI began the permitting process to add TSCA-regulated wastes, namely PCBs, to its authorization in order to meet the demand for the treatment of government and commercially generated radioactive PCB wastes. Currently, there are no authorized, commercial facilities treating radioactive PCB wastes. The Department of Energy (DOE) operates a TSCA Incinerator authorized to treat only DOE generated wastes, which is scheduled to begin closure activities in 2009. The DSSI authorization will provide DOE with an alternative option for radioactive PCB wastes as well as provide an outlet for disposition of commercially generated radioactive PCBs.
Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "Perma-Fix strives to stay at the forefront of new technology development in the radioactive and mixed waste treatment market, and we are gratified that after four years of working with EPA and the State of Tennessee, we have received our long-awaited permit authorization. I have personally worked in the area of PCB treatment for the past two decades, and recognize the important contribution that this new alternative treatment technology will provide to our customers' waste management programs. This permit will allow for PCB-contaminated wastes that have been in storage for a number of years to be safely and effectively treated and disposed."
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc., a national environmental services company, provides unique mixed waste and industrial waste management services. The company's increased focus on nuclear services includes radioactive and mixed waste treatment services for hospitals, research labs and institutions, federal agencies, including DOE, DOD, and nuclear utilities. The company's industrial services treat hazardous and non-hazardous waste for a variety of customers including, Fortune 500 companies, federal, state and local agencies and thousands of other clients. Nationwide, the company operates nine major waste treatment facilities.
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 include, but are not limited to that this permit will allow for PCB-contaminated wastes that have been in storage for a number of years to be safely and effectively treated and disposed. 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; competitive pressures; our abilityto apply and market our technologies; that neither the federal government nor any other party to a subcontract involving the federal government terminates or renegotiates any material contract granted to us prior to expiration of the term of the contract, as such contracts are generally terminable or renegotiable on 30 day notice, at the government's option; or the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; that Congress provides funding for the new remediation projects; receipt of a final permit from the EPA relative to treatment of radioactive PCBs; community reaction to our permit application to treat PCB radioactive waste; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2007 Form 10-K/A and the Forward-Looking Statements discussed in our Form 10-Q for the quarters ending March 31, 2008 and June 30, 2008. 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.
For more information, contact:
Dr. Louis F. Centofanti
Chairman and CEO
Perma-Fix Environmental Services, Inc.
European Investor Relations
David K. Waldman
US Investor Relations
Crescendo Communications, LLC
212-671-1020, ext. 101