Perma-Fix Announces New $7 Million Contract Award

ATLANTA, GA / ACCESSWIRE / June 19, 2020 / Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) (the “Company”) entered into a new contract in its Services Segment valued at approximately $7 million over the next eight months.

Mark Duff, Chief Executive Officer, stated, “We have recently been awarded a new project supporting the Lawrence Berkeley National Laboratory (LBNL) through the Department of Energy (DOE) to include remediation, demolition and waste management services. This award further increases our funded backlog and bolsters our Services Segment revenues beginning in the second quarter of 2020. Perma-Fix was able to leverage our recent experience conducting complex remediation and building demolition in radiological environments. This award reflects the success of our project team to establish a technical and management solution that addresses the unique challenges at LBNL to reduce safety risk while meeting the cost and schedule requirements.”

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 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.

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 identifiable by use of the words such as “believe”, “expects”, “intends”, “anticipate”, “plan to”, “estimates”, “projects”, and similar expressions. Forward‑looking statements include, but are not limited to: increase backlog; bolster Services Segment revenues; and cost and schedule requirements. 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 ability to apply, commercialize, and market our new technologies; 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; completion of construction projects on a timely basis; Congress provides continuing funding for the DOD’s and DOE’s remediation projects; ability to obtain new foreign and domestic remediation contracts; our ability to fund the commercialization of our technology; impact of COVID-19; and the additional factors referred to under “Risk Factors” and “Special Note Regarding Forward-Looking Statements” of our 2019 Form 10-K and Form 10-Q for quarter ended March 31, 2020. 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.

Please visit us on the World Wide Web 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

SOURCE: Perma-Fix Environmental Services, Inc.

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