Perma-Fix wins multi-million dollar service contract for Tritium Systems Demolition and Disposal project

Perma-Fix Environmental Services Inc (NASDAQ:PESI) (FRA:PFX1) has been awarded a multi-million dollar service contract for the Tritium Systems Demolition and Disposal (TSDD) project, which is expected to be completed over the next 18 months. 

The company said the TSDD project aims to remove legacy tritium systems and equipment from the Princeton Plasma Physics Laboratory (PPPL), with the goal of reducing the risk of a release and safely disposing of contaminated materials.  

PPPL is a US Department of Energy (DOE) national laboratory operated by Princeton University, and it plays a key role in assisting Fusion Energy Sciences to achieve its strategic goals.  

READ: Perma-Fix announces new Therma-Fix Gen3 vacuum thermal desorption system to treat problematic waste streams

Perma-Fix said it will serve as the technical expert for this project, providing project management, characterization, and material disposal services. The key subcontractors include Gottstein Corporation and ICE Service Group Inc.

“We are pleased to have been awarded this new project supporting the Princeton Plasma Physics Laboratory through the United States Department of Energy (DOE), which will include remediation, demolition and tritium waste management services at the James Forrestal Campus,” said Perma-Fix CEO Mark Duff in a statement.  

“Our selection for this important project highlights our prior success conducting complex remediation and building demolition in hazardous environments, as well as the capabilities of our team to establish a technical and management solution that addresses the unique challenges at PPPL in order to safely complete the project over the next 18 months.” 

Moreover, Duff noted, the contract increases the company’s funded backlog and bolsters its Services Segment revenues heading into the second half of 2021.

At PPPL, the Tokamak Fusion Test Reactor (TFTR) was an experimental tokamak built and operated from 1982 to 1997 and removed in 2002. PPPL has some residual tritium, a radioactive isotope of hydrogen, in the Tritium Systems and Neutral Beam Boxes that were used to support TFTR, and that were left on-site after completion of the TFTR experiment, the company said. 

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Story by ProactiveInvestors