Perma-Fix Shares Hit One-Year High on DOE Nuclear-Waste Contract
By Anvee Bhutani
Shares of Perma-Fix Environmental Services rose to a one-year high Wednesday after the company said it was awarded part of a $4.37 billion U.S. government contract to treat and dispose of nuclear waste.
The stock was up 18% at $20.96 in early trading.
The Atlanta-based nuclear-waste treatment company said the subcontract, awarded by Hanford Tank Waste Operations & Closure, covers the treatment and disposal of pretreated liquid mixed low-level waste from the U.S. Energy Department's Hanford site in southeastern Washington.
The multiple-award contract has a maximum cumulative value of $4.37 billion and covers as much as 50 million gallons of waste. That maximum value is to be shared among all companies awarded subcontracts, however, and is not solely destined for Perma-Fix.
The company will perform the work at its Perma-Fix Northwest facility in Richland, Wash., near the Hanford site.
The Hanford site, a former nuclear-production complex, contains some of the country's largest inventories of radioactive and hazardous waste. The DOE has been working for decades to clean up millions of gallons of waste stored in underground tanks at the site.
Perma-Fix said it had invested in its Richland operations in anticipation of the program, including upgrading facilities, purchasing large-scale treatment equipment, hiring and training workers and acquiring land connecting its facility to a short-line railroad serving the Port of Benton.
Perma-Fix said the U.S. government would retain legal title to and responsibility for the waste under the agreement.
Write to Anvee Bhutani at anvee.bhutani@wsj.com
(END) Dow Jones Newswires
August 12, 2026 11:09 ET (15:09 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
3 Stocks to Sell and 3 Stocks to Buy for October
The Smartest Moves for Bond Investors Today, and What to Do When You Have Too Many Investments
Undervalued by 15%, This Utilities Stock Could Be an Unexpected AI Winner
The Thrilling 37
United States