U.S. Department of Energy Selects Perma-Fix to Participate in Nationwide DD&R Small Business IDIQ Contract

ATLANTA, May 03, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced that it was selected by the U.S. Department of Energy (DOE) Office of Environmental Management (EM) to participate in a 10-year, small business set-aside, multiple-award Indefinite Delivery/Indefinite Quantity (IDIQ) contract to provide nationwide Deactivation, Decommissioning and Removal (DD&R) services for EM sites, the National Nuclear Security Administration (NNSA), Office of Naval Reactors (ONR), and the Office of Science (SC).

The Perma-Fix team is among fourteen small businesses selected, making them eligible to compete for firm fixed price and cost reimbursement task orders with a maximum ceiling of $2 billion over a 10-year period.

Mark Duff, President and CEO of the Company, commented, “We are honored to have been chosen among a select group of companies to participate in this 10-year IDIQ contract to support the DOE’s cleanup mission. We believe this selection highlights our growing reputation, technical capabilities, and proven track record of addressing our nation’s most pressing environmental challenges in a safe and cost-effective manner.”

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 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.

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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 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: award of task order under the IDIQ; . 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; Congress fails to provides continuing funding for the DOE’s remediation projects; 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; and the “Risk Factors” discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of, our 2023 Form 10-K. 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.

Contacts:

David K. Waldman-US Investor Relations

Crescendo Communications, LLC

(212) 671-1021

Herbert Strauss-European Investor Relations