Perma-Fix Environmental Services (NASDAQ:PESI) has secured a Master Indefinite Delivery/Indefinite Quantity subcontract from Hanford Tank Waste Operations & Closure, LLC (H2C) covering the treatment and disposal of pretreated liquid mixed low-level waste from the U.S. Department of Energy’s Hanford Site in southeastern Washington State.
The subcontract became effective on August 11, 2026, and allows H2C to issue task orders between January 1, 2027 and December 31, 2041. Performance may continue for as long as five years beyond that period.
The overall procurement has a maximum cumulative quantity of 50 million gallons and a ceiling value of $4.37 billion. However, these limits are shared across all subcontract holders and do not represent guaranteed volumes or revenue for Perma-Fix. Two other companies were awarded the same subcontract through the procurement process.
Perma-Fix Northwest to handle waste treatment
Work awarded to Perma-Fix will be carried out at its licensed Perma-Fix Northwest facility in Richland, Washington.
The scope covers transportation and receipt verification of the waste, followed by grouting, packaging and temporary storage. It also includes rail transportation and final disposal at a licensed commercial facility outside Washington State.
Under the Performance Work Statement, Perma-Fix must maintain treatment capacity of 100,800 gallons per week.
Company invests in facility and rail infrastructure
Perma-Fix said it has been preparing its Richland operations for the Hanford programme through a series of investments.
These include facility upgrades, the procurement of large-scale treatment equipment and an expansion of the company’s workforce.
Perma-Fix has also acquired a rail-line land parcel connecting the Richland facility with the Port of Benton short-line railroad, providing infrastructure to support transportation requirements associated with the programme.
“The treatment and disposal of Hanford’s tank waste is among DOE’s highest environmental priorities, and this award positions Perma-Fix to partner with H2C to support that mission directly from our Richland facility,” said Mark Duff, President and Chief Executive Officer of Perma-Fix.
Task order value remains uncertain
While the procurement carries a substantial overall ceiling, Perma-Fix cautioned that the number, timing and value of individual task orders it may receive cannot be guaranteed.
The $4.37 billion ceiling applies collectively to the companies selected under the procurement rather than representing a firm contract value awarded specifically to Perma-Fix.
The subcontract nevertheless gives Perma-Fix the opportunity to compete for long-term waste treatment and disposal work at Hanford, with potential task orders extending over more than a decade.
Perma-Fix Environmental Services stock price
