The Company’s prior bench-scale testing of PFAS compounds demonstrated that the process is effective and can be applied to a variety of potential markets, including liquids, solids, soils, biosolids, and sludges. The new pilot plant operates in a closed system under mild conditions.
Present disposal options for PFAS liquids include deep wells, incineration and landfills, all of which have serious environmental liability issues. We expect that the Perma-Fix’s process will virtually eliminate PFAS compounds (minimum of 99.9999% destruction) and reduces the environmental liability associated with these materials. Additionally, the process is designed to operate at a highly competitive price compared to traditional disposal options.
According to a recent article in Barron’s the estimated cleanup cost for PFAS compounds could exceed
Dr.
Centofanti continued, “While there are inherent risks and potential delays with any new technology, especially as we continue to scale the process, with the pilot plant test now complete we have confidence moving forward. We are now in the process of constructing our initial commercial unit, which will be comprised of a sealed vessel operating under mild conditions. We believe that this process is highly scalable with minimal capex or labor costs required since we are employing a non-incineration, chemical-based process. Our proprietary process is expected to destroy the fluorocarbon chain, mineralizes the fluoride, and creates calcium fluoride as the primary byproduct, which is a completely non-hazardous material far exceeding even the strictest disposal requirements set by the
Centofanti further noted: “PFAS chemicals have been designated as “forever chemicals,” but we know from basic chemistry they are fundamentally unstable. This is because of an activation barrier that exists with carbon-fluorine materials. After several years of research, Perma-Fix has developed a process that has bypassed that barrier and readily destroys PFAS materials under mild conditions. This process has been screened against a large variety of PFAS materials in bench tests, and we were able to destroy all materials screened. The process is fundamentally new, and patents have been filed, including 3 patents pending, a fourth patent in process, and several more underway to cover the various potential applications that we see in the various PFAS markets.”
Duff concluded: “We are now in the process of final design and fabrication for installation of the first operational unit and plan to be operational, accepting commercial waste for destruction by the end of the year. Perma-Fix has established goals for additional units to be installed at each existing treatment plant to follow in 2025. The initial feedback from potential customers has been positive given the increasing pressure to treat and dispose of these waste streams. In addition to the costs associated with storing these materials, there are significant growing legal and regulatory requirements to treat these wastes, not to mention the potential liabilities associated with these harmful and dangerous waste streams that have permeated landfills. Initial estimates associated with impact to soils include more than 200 million acres of contaminated farmland in the
Commercial and government entities interested in speaking to a Perma-Fix representative about the new PFAS destruction process may contact the Company at (770) 587-9898.
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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: testing results of the new process to treat PFAS; benefits of our new process; patent applications; construction and installation of first operational unit by year end; installing of additional units in 2025; and receipt of commercial waste for destruction. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; acceptance of our new process by the public; granting of the patents which are subject to review by the appropriate governmental authorities; industry conditions; competitive pressures; our ability to apply and market our new technology; acceptance of our new technology; and the “Risk Factors” discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of, our 2023 Form 10-K. 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
(212) 671-1021
Herbert Strauss-European Investor Relations
herbert@eu-ir.com
+43 316 296 316
Source:
2024 GlobeNewswire, Inc., source