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Perma-fix Expects 2028 Revenue of $97.4M
Says treatment backlog up 29% in Q2 to $15.7M on growing Hanford-related waste receipts. Says H2C Master IDIQ subcontract task orders eligible beginning January 2027. In investor presentation slides, Perma-fix commented on the Hanford opportunity, seeing total 2028 annual run rate revenue $97.4M. Sees 200 East - combined Waste - annual revenue $62.4M, with DFLAW - combined waste - annual revenue $35M.
Perma-Fix Awarded Hanford Waste Treatment Contract
Perma-Fix Environmental announced that it has been awarded a master indefinite delivery/indefinite quantity subcontract by Hanford Tank Waste Operations & Closure, for the treatment and disposal of pretreated liquid mixed low-level waste from the U.S. Department of Energy's Hanford Site. H2C is the prime contractor to DOE's Office of Environmental Management for tank waste operations and closure at the Hanford Site in southeastern Washington State. The master subcontract is effective August 11. Task orders may be issued from January 1, 2027 through December 31, 2041, with performance of task orders issued before the end of the ordering period permitted for up to five years beyond the end of the ordering period.
Perma-Fix Environmental Services Launches Public Offering
Perma-Fix Environmental Services announced that it has commenced an underwritten public offering of shares of its common stock. Perma-Fix intends to use the net proceeds from the offering to fund (i) costs relating to capacity upgrades at its Perma-Fix Northwest Richland facility, (ii) continued development relating to its patent-pending Perma-FAS process for the destruction of PFAS; and (iii) general corporate and working capital purposes. Craig-Hallum is acting as sole managing underwriter for the proposed offering.
Perma-Fix Completes PFAS Treatment Project
Perma-Fix Environmental announced the completion of a per- and polyfluoroalkyl substances, or PFAS, treatment project for Four Rivers Nuclear Partnership, the DOE contractor responsible for environmental cleanup activities at the Paducah Site. The project further demonstrates Perma-Fix's leadership in the destruction of PFAS compounds and the company's ability to execute complex treatment solutions supporting government environmental remediation programs. The company also recognizes FRNP for its proactive approach to addressing PFAS-contaminated materials as part of its environmental stewardship efforts. Perma-Fix received approximately 1,500 gallons of PFAS-contaminated liquids and successfully treated the material using its patent-pending proprietary Perma-FAS destruction technology. The 1,500 gallons were the result of two tasks awarded to Perma-Fix; the first was the transportation and treatment of legacy AFFF and the second was the onsite remediation of a tank and bladder containing PFAS liquids.
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