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.
SEC brings more than 18 years of successful, hands-on experience with remediation projects at DOE facilities and those regulated by the Nuclear Regulatory Commission. Christopher Leichtweis, President of HOMS and CEO of SEC, said, “SEC’s local experience, resources and knowledge provide strength in maximizing project efficiencies, while minimizing costs to the government.”ARRA’s purpose is to stimulate the economy and to create and retain jobs. SEC estimates that throughout the project lifecycle, approximately 15 months, more than 30 technical positions will have been created or retained. Mr. Leichtweis added, “SEC is fortunate to have an avenue to put Americans back to work through the stimulus funds.” Last week, US Secretary of Energy Steven Chu toured ORNL to inspect a range of Recovery Act projects and to see firsthand the progress that has been made as a result of the investments. SEC was showcased by DOE in a press release issued 3/23/2010, as an example of companies that are spurring job growth and economic recovery while cleaning up the environment through the use of ARRA funds. As stated in the DOE release: SEC has been awarded four Recovery Act projects in Oak Ridge totaling $21 million for the demolition of facilities and cleanup of hazardous materials at ORNL and the Y-12 National Security Complex. Secretary Chu was quoted: “Because of the Recovery Act, programs around the country have been able to expand, hire and continue our important cleanup work. These investments have played a key role in helping local economies recover, creating jobs and supporting small businesses in dozens of communities.” The Department of Energy also said, "With the Recovery Act funding, the Department of Energy will be able to reduce the legacy footprint of Cold War-era sites across the country by 40 percent by 2011." “Secretary Chu’s visit to Oak Ridge and his commitment to making sure stimulus funds are being used effectively is a great example of how government policy is aligned with SEC’s strategic goals and capabilities,” said Leichtweis.