News Flash! EPA approves CXI to destroy PCB's in oil. Just saw the the story after the close.
SET(TM) Process Targets Superfund, DOE Sites; Permits
Commercial-Scale Operations
NEW YORK, June 2 /PRNewswire/ -- The U.S.
Environmental Protection Agency has expanded
Commodore Applied Technologies, Inc.'s (Amex: CXI)
nationwide operating permit to include the destruction of PCBs in oil, the company announced today.
The EPA's award also permits, for the first time,
Commodore's second-generation, commercial-scale
L1200 system, Commodore's transportable, non-thermal
SET(TM) process had been previously permitted by the
EPA to destroy PCBs in soils and on metallic surfaces.
"Most of the PCB contamination is found either in soils or
oils," said Paul E. Hannesson, Commodore chairman and
CEO. "This action by the EPA means that the SET(TM)
process becomes an applicable remediation technology for
many more Superfund and Department of Energy sites.
"The EPA permit also indicates, for the first time, that there
is a safe, non-thermal technology that can destroy or
neutralize the most toxic wastes. We as a nation can begin
eliminating these toxins, rather than worrying about their
safe storage."
Mr. Hannesson said that the issuance of the EPA permit to
Commodore, which was based on operations performed in
June 1997, comes at a time of renewed attention to the
dangers posed by the Superfund poisons. "Commodore
and its affiliates have contracts at two Superfund sites now,
we've demonstrated at others and we expect additional
Superfund contracts," he said.
The White House last week said that it would ask
Congress to release $650 million for Superfund cleanups at
171 sites around the country. These funds would be in
addition to the $1.4 billion that Congress approved for
1998.
Commodore said that its L1200 system will be joined by a
third-generation, commercial-scale system, the S-10, in the
third quarter. The L1200 is designed to remediate liquids,
such as solvents, oils and explosives. The S-10 is designed
to process solids, though it is more versatile, capable of
handling both liquids and solids.
The amendment to the EPA permit was forwarded by John
W. Melone, director, National Program Chemicals
Division. It "authorizes Commodore to use its L1200 unit
which was successfully demonstrated at Marengo, Ohio to
destroy waste oils containing PCBs." It also "authorizes
Commodore to use the L1200 unit to recycle waste oils
containing PCBs to a level of less than 2 parts per million."
Commodore's SET(TM) process has been successfully
operating under its initial EPA permit at the DOE Weldon
Spring, Mo. facility, a Superfund site. That S-4 processing
system has been remediating mixed waste, eliminating the
hazardous component by destroying PCBs, under a
contract with Morrison Knudsen, the DOE site manager.
The SET(TM) process is also expected to be the only
non-incineration technology approved for the destruction of
PCBs by the EPA at the New Bedford, Mass., Harbor
Superfund site.
The patented SET(TM) process is the most powerful
chemical reduction process and has been proven effective
in destroying or neutralizing PCBs, dioxins, CFCs,
HCFCs, pesticides and chemical warfare agents.
Teledyne-Commodore, LLC, a 50-50 joint venture of
Allegheny Teledyne Incorporated (NYSE: ALT) and
Commodore, that uses the SET(TM) process, is a
demonstration technology in the Assembled Chemical
Weapons Assessment program. Under the ACWA
schedule, Teledyne-Commodore is expected to have
completed full-scale neutralization of chemical warfare
agents by December.
The Commodore family includes Commodore Applied
Technologies, Inc. (Amex: CXI, CXIW), Commodore
Separation Technologies, Inc. (Nasdaq: CXOT, CXOTW,
CXOTP), Commodore Solution Technologies, Inc., and its
wholly-owned engineering subsidiary, Commodore
Advanced Sciences, Inc. Commodore Applied
Technologies, Inc., is approximately 42 percent owned by
Commodore Environmental Services, Inc. (OTC Bulletin
Board: COES).
These materials contain forward-looking statements based
on a series of projections and estimates regarding
economics within our markets, the industries in, which we
operate, the effects of legislation and regulations, as well as
business and competitive outlook.
SOURCE Commodore Applied Technologies, Inc.
/CONTACT: John Peterson, media, Melissa C.
Berkowitz, investors,
212-308-5800, both of Commodore Applied
Technologies/ |
