Business
Perma-Fix Develops and Deploys Perma-Sort(SM) Material Segregation System; Awarded First Two Contracts to Treat Over 100 Thousand Tons of Material for Federal Client
Initial contracts valued at over $3.7 million with expected project completion by mid-2020ATLANTA, GA / ACCESSWIRE / May 11, 2020 / Perma-Fix Environmental
About this update from Perma-fix Environmental Services, Inc.
[{"type":"text","content":"Initial contracts valued at over $3.7 million with expected project completion by mid-2020ATLANTA, GA / ACCESSWIRE / May 11, 2020 / Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) (the \"Company\") today announced that it has completed development of its new Perma-SortSM material sorting and segregation process, a customized, conveyor-based radiological assay system designed to provide 100% characterization of material efficiently and with industry-leading measurement quality. The Company also announced it has been awarded two federal contracts valued at $3.7 million to separate and treat radioactive materials from over 100,000 tons of soils, debris and dredged materials.Mark Duff, Chief Executive Officer, stated \"We are excited to announce that we have completed both the design and development of the nation's newest automated material sorting and segregation system. Drawing on Perma-Fix's core capabilities of waste characterization and health physics, the system provides efficient and innovative material management for existing and future clients.\"\"The launch of this technology represents an important milestone for the Company, as this system has been under development for some time. We developed Perma-SortSM in response to our customers' needs and believe this new capability has the potential to generate significant revenue. These first two contracts alone are collectively valued at $3.7 million with project completion expected in the next few months. In addition, we are currently working to expand the system to address other contaminates of concern.\"The Perma-SortSM conveyor-based radiological assay systemThe Perma-SortSM material segregation system includes the following benefits to federal and commercial clients:Perma-SortSM is a trailer mounted system offering simple and rapid mobilization and setup.Material is processed using electrically powered conveyors, offering minimal effluent and noise emissions.Detector type(s), number, and configuration are customizable, depending on the site-specific requirementsThe system design and proprietary software design offers industry-leading detection rates.Perma-SortSM is designed to operate with multiple layers of health and safety constraints, in accordance with Occupational Safety and Health Administration (OSHA) and American National Standards and Measurement Institute (A...