PESI 8-K
Perma Fix Environmental Services Inc (PESI)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 – Entry into a Material Definitive Agreement.
On November 28, 2023, Perma-Fix Environmental Services, Inc. (the “Company”) disclosed that it was advised by the European Commission (the “Contracting Authority”) that the joint venture consisting of the Company and Campoverde Srl would be awarded a multi-year contract valued at approximately EUR 50 million for the treatment of radioactive waste from the Joint Research Center in Ispra, Italy. On December 18, 2023, this contract was executed by the Contracting Authority and the joint venture consisting of the Company and Campoverde Srl. The Company is a 50% partner in the joint venture. The Contracting Authority may terminate the contract under certain conditions as set forth in the contract. See the attached press release for risks relating to the forward-looking statements contained herein.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
| Exhibit | Description | |
| 99.1 | Press release of the Company dated December 21, 2023. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| 2 |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 21, 2023
| PERMA-FIX ENVIRONMENTAL SERVICES, INC. | ||
| By: | /s/ Ben Naccarato | |
| Ben Naccarato | ||
| Executive Vice President and Chief Financial Officer | ||
| 3 |
Exhibit 99.1
Perma-Fix
Joint Venture Receives Formal Award of European
Waste Treatment Contract Valued at up to EUR 50 Million
ATLANTA – December 21, 2023 – Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced that the European Commission (EC) has formally awarded the previously announced multi-year contract, valued at up to EUR 50 million, for the treatment of radioactive waste from the Joint Research Center (JRC) in Ispra, Italy, to the Company’s joint venture with Campoverde Srl.
Mark Duff, Chief Executive Officer, stated, “We are proud to receive formal award of this contract to support the European Commission’s radioactive waste cleanup mission at JRC in Italy. In addition to the revenue potential of this contract, it opens the door to an expansion of our offering across Europe. Given our long and successful track record in the U.S., we look forward to replicating our capabilities in Europe.”
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 U.S Department of Energy (DOE), the U.S 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”, “plans to”, “estimates”, “projects”, and similar expressions. Forward-looking statements include, but are not limited to: the revenue potential of this contract; opening the door to an expansion of our offering in Europe; and replicating our capabilities in Europe. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, the contract is not terminated by the European Commission; the parties complying with the terms of the contract; future economic conditions; industry conditions; competitive pressures; 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 or terminates existing contracts; and the additional factors referred to under “Risk Factors” and “Special Note Regarding Forward-Looking Statements” of our 2022 Form 10-K and Form 10-Qs for quarters ended March 31, 2023, June 30, 2023 and September 30, 2023. 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
+43 316 296 316