Perma-Fix Environmental Services (PESI) 11th Annual Waste and Environmental Symposium summary

Business overview and market position

• Operates in two segments: waste treatment (plant-based) and services (field-based remediation and demolition).

• Management team has extensive industry experience, with key leadership driving technology innovation and growth.

• Major revenue sources include the Department of Energy, National Nuclear Security Administration, and commercial sectors like oil, gas, and international clients.

• Unique facilities with rare permits enable handling of complex radioactive waste, including international shipments for treatment.

• International expansion includes projects in Europe and a joint venture in Italy, with plans to build a facility in the UK.

Growth initiatives and strategic projects

• Five key growth initiatives target $200 million annual revenue, focusing on larger bids, plant upgrades, Hanford site opportunities, international expansion, and PFAS technology.

• Recently selected as a primary subcontractor for a $3 billion, 10-year DOE cleanup project at West Valley, NY, with transition set for June 2024.

• Bidding on major projects, including a $500 million USS Enterprise decommissioning and multiple Department of Defense contracts.

• Plant upgrades funded by a recent capital raise aim to broaden market reach, especially for classified and fracking-related waste.

• Hanford site contract expected to generate $70 million annually, with operations starting August 2024 and additional grouting work in the pipeline.

Technology and operational advancements

• Founder holds 40 patents, driving new revenue-generating treatment technologies.

• PFAS destruction technology is cost-effective, scalable, and entering operational phase, with first prototype completed and a larger unit launching in Q4 2024.

• PFAS unit expected to generate $3–5 million in Q4 2024, scaling to $5 million per quarter through 2026.

• Technology applicable to soils, activated carbon, and landfill leachates, expanding addressable markets.

• Upgrades at all plants target new waste streams and regulatory needs, supporting future revenue growth.