Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "We are very excited to unveil this breakthrough technology. There are a number of important benefits to our new process. First, we believe this technology has the potential to alleviate the worldwide shortages of Tc-99m, due to its use of readily-available, natural Molybdenum, rather than highly enriched uranium. Additionally, we believe that this technology can be easily deployed around the world using standard research and commercial reactors, thereby eliminating the need for more special purpose reactors. We expect this process will be much better for the environment since waste generated during the production process is more readily treated and disposed. Until now, there were no viable treatment or disposal options for the waste generated from production of these isotopes. Moreover, our process is far less expensive and does not require the use of government-subsidized, weapons-grade materials. As a result, we expect our process will alleviate major concerns about nuclear proliferation, which have plagued the industry."
Dr. Centofanti continued, "In addition to our proprietary processes, we believe we are well positioned to commercialize this technology due to our unique facilities and permits. Our facilities have been used in the past to produce radioisotopes for medicinal uses and this technology is a natural extension of our capabilities into new markets. Ultimately, we believe these technologies will not only reduce costs, help the environment, and solve proliferation concerns, but more importantly, will benefit the patients that require a steady and reliable supply of these isotopes for life saving medical procedures. We are very proud to be a part of this major undertaking."
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc., a national environmental services company, provides unique mixed waste and industrial waste management services. The Company's increased focus on nuclear services includes radioactive and mixed waste treatment services for hospitals, research labs and institutions, federal agencies, including the Department of Energy ("DOE"), the Department of Defense ("DOD"), and nuclear utilities. The Company's industrial services treat hazardous and non-hazardous waste for a variety of customers including, Fortune 500 companies, federal, state and local agencies and thousands of other clients. Nationwide, the Company operates seven waste treatment facilities.
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