Perma-Fix Team Awarded Task Order for the Environmental Management Test Bed Initiative Completion

ATLANTA, Jan. 29, 2019 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced that Department of Energy (DOE) has awarded its team a cost-plus-fixed-fee task order under an Indefinite Delivery/Indefinite Quantity (IDIQ) contract for the DOE Environmental Management (EM) Test Bed Initiative (TBI) for offsite treatment and disposal of Hanford Low Activity Waste (LAW). The IDIQ contract was awarded to Aerostar Perma-Fix TRU Services, LLC (APT Services, LLC), located in Oak Ridge, Tennessee. The task order will have a maximum value of $4.8 million over a ten-month performance period.

Work under this task order includes:

• In-tank pre-treatment system (ITPS) design completion
• ITPS fabrication, testing, training, installation and operation support
• Waste treatment (approx. 2,000 gallons), packaging, transportation, and disposal
• TBI final report

Mark Duff, President and CEO of the Company, commented, “We are honored to be a part of the TBI team for the next phase of this initiative to demonstrate the feasibility of options for retrieval and treatment of low activity tank waste at the Hanford site in Washington State. This demonstration initiative will highlight several new technologies that could have a dramatic impact on the future of the tank waste program at Hanford.”

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 three nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide. 

Please visit us at .

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”, “plans to”, “estimates”, “projects”, and similar expressions. Forward looking statements include, but are not limited to: retrieval and treatment of tank waste at the Hanford site in Washington State; and dramatic impact on the future of the tank waste program at Hanford. 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 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; inability to win bid projects; that Congress fails to provides continuing funding for the DOD’s and DOE’s remediation projects; ability to obtain new foreign and domestic remediation contracts; and the “Risk Factors” discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of, our 2017 Form 10-K and Forms 10-Q for quarters ended March 31, 2018, June 30, 2018 and September 30, 2018. 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 .

Contacts:

David K. Waldman-US Investor Relations

Crescendo Communications, LLC

 (212) 671-1021

Herbert Strauss-European Investor Relations