Westinghouse and Perma-Fix Advance Cost-Effective Nuclear Materials Management in Europe

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State-of-the-Art Thermal Treatment Facility Planned for United Kingdom

Waste Management Symposia, Phoenix, March 7, 2022 – Today, Westinghouse Electric Company and Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) signed a term sheet at the 2022 Waste Management Symposia, signaling plans to develop a state-of-the-art advanced materials treatment facility in the United Kingdom. Built at Westinghouse’s Springfields site, the facility will expand waste treatment capabilities for the European nuclear market. It is expected that upon finalization of the agreement, Westinghouse will own 55 percent of the initiative and Perma-Fix will own the balance.

The new facility will incorporate the Perma-Fix Bulk Processing Unit (BPU), a vessel designed to treat a wide range of radioactive materials. The BPU accepts a broad range of material types while reducing waste volume by 30 to 100 times, which meets the waste acceptance criteria of European disposal facilities. The BPU also eliminates the risk of cross-contamination.

“We are thrilled to partner with Westinghouse as we expand our proven technology to the European market,” said Mark Duff, CEO of Perma-Fix. “With the success that our BPU vessel has had in the United States for over two decades, we are eager to bring this technology to new markets, enabling more plants globally to enhance their capabilities when it comes to handling radioactive waste removal. In the UK alone, there are over 5.1 million tons of total waste for treatment, including radioactive waste in storage and anticipated waste from decommissioning operations. We look forward to working closely with Westinghouse and leveraging our track record to provide safe treatment options for some of the world's most challenging waste streams.”

“We look forward to working with Perma-Fix to provide European customers with increased access to the full range of treatment capabilities – from characterization, packaging, consignment and transport, to receipt, storage, sort and segregation, treatment and final disposal,” said Sam Shakir, President of Environmental Services at Westinghouse. “Our unmatched experience and proprietary technical innovations will be at the forefront of this facility to ensure the safest storage and disposal of radioactive materials.”