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Homeland Security Capital Corporation’s Subsidiary Awarded $16.8M DOE Stimulus Project To Perform Environmental Cleanup ORNL

Homeland Security Capital Corporation (OTCBB:HOMS), an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief and security solutions to government and commercial customers, announced today that its environmental remediation subsidiary, Safety and Ecology Corporation (SEC) was awarded a contract valued at $16.8M under the American Recovery and Reinvestment Act (ARRA) from the Department of Energy (DOE). The contract calls for the demolition of facilities and cleanup of legacy materials at the Oak Ridge National Laboratory (ORNL) in Tennessee.

“SEC has proven it is prepared and qualified to perform environmentally challenging cleanup work. So far, we have aggregated $37M in ARRA funded projects for our company,” said C. Thomas McMillen, Chairman and CEO of HOMS. “We are pleased to assist DOE in ensuring safe and efficient project completion.”

Under this contract, SEC will perform Demolition, Deactivation and Decommissioning (D&D) services at 34 facilities in the ORNL central campus area. When operating, these facilities were used to support reactor operations and for various laboratory support activities. In addition to the D&D work, SEC will also remove materials from other buildings in the lab’s historic central campus, dating back to the World War II Manhattan Project.

This $16.8 million contract is part of $755 million received by DOE’s Environmental Management program for projects in Oak Ridge. In total, 49 buildings across the Oak Ridge Reservation are being demolished using ARRA funds. Additionally, other work includes tank and soils remediation, capping of old burial grounds, and expansion of the on-site waste disposal facility. The ARRA provides Oak Ridge the opportunity to begin much needed cleanup projects at ORNL, Y-12, the East Tennessee Technology Park, and the Transuranic Waste Processing Center.

As stated in the DOE press release issued 3/31/2010, "This funding is helping to accelerate the cleanup and demolition of unneeded facilities at the Oak Ridge National Laboratory – an important step for the continued environmental cleanup at the site," said Gerald Boyd, manager of the Oak Ridge Office.

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