RadWaste Vol. 7 No. 12
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RadWaste & Materials Monitor
Article 4 of 9
May 29, 2014

PERMA-FIX MEDICIAL SUBSIDIARY REPORTEDLY IN DEAL WITH POLISH FIRM

By ExchangeMonitor

Jeremy L. Dillon
RW Monitor
3/28/2014

Perma-Fix Medical Corporation, a recently created subsidiary of Perma-Fix Environmental Services, has reportedly entered into a financial deal to conduct a reverse takeover of a Polish firm. According to reports from Reuters this week, CEE Opportunity Partners Poland SA has reached an agreement to purchase 100 percent of Perma-Fix Medical Corp. for 10 million Polish zlotys or approximately $3.3 million. Perma-Fix Environmental Services has reached “conditional agreement” to purchase an 80 percent stake CEE Opportunity Partners Poland SA’s “share capital,” Reuters reported. “We look forward to the completion of the reverse takeover CEE Opportunity Partners by Perma-Fix Medical, which will take place in the coming weeks,” CEE Opportunity Partners President Dominik Dymecki said, according to reports from Parkiet, a Polish news outlet. “The technological process of Perma-Fix has the potential to completely change the supply chain of medical isotopes in Europe, North America and around the world. In addition, the cost of acquiring the technology isotopes is rational and simplified logistics supply, and therefore in the future, this technology should become a standard in the industry,” he said.

The move seems to be an attempt by Perma-Fix to further its efforts in Europe to advance its technology to produce Technetium-99m (Tc-99m) from Molybdenum-99 (Mo-99). Perma-Fix formed the subsidiary as a means to attract financing to move the project through the regulation process. According to the release announcing the formation of the subsidiary, Perma-Fix had intentions to establish a European base. “In addition to raising capital, we look forward to establishing operations in Poland with its rich history in the nuclear field and leading nuclear research institutions,” the release from last month said. Perma-Fix declined to comment this week on the Reuters reports.

‘Successful Validation of the Process’

Meanwhile, Perma-Fix announced late this week that it had successfully received validation for its medical isotope production process using standard reactors in both the United States and Poland. The first set of tests, performed at POLATOM in Warsaw, showed that the resins used in the process could withstand the high levels of radiation while meeting regulatory standards for the production of Tc-99m. The second test, performed at the Missouri University Research Reactor (MURR) in Columbia, Mo., confirmed the results from Poland. “These results further validate the strength of our technology, which we believe has the potential to reshape the global supply chain of Tc-99m in the United States and around the world,” Perma-Fix CEO Lou Centofanti said in a release. “We believe the new process is a less expensive process and does not require the use of government-subsidized, weapons-grade materials.”

According to Perma-Fix, its process eliminates much of the proliferation problems that can go with Tc-99m production.   “We believe our process also addresses important issues associated with current production methods,” Centofanti said in a statement.  “Our process can be performed in most standard research reactors, which should help solve concerns regarding supply shortages of Tc-99m around the world.  Second, our process does not utilize Highly Enriched Uranium (HEU) or Low Enriched Uranium (LEU) targets, which are frequently cited as proliferation risks.  Lastly, we believe our process eliminates many environmental concerns associated with the current Mo-99 production methodology, including issues around reprocessing of target materials and production of high level waste requiring permanent disposal not currently provided for,” he said. The successful validation led to Perma-Fix filing a patent application concerning its production technology. 

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NEW: Via public records request, I’ve been able to confirm reporting today that a warrant has been issued for DOE deputy asst. secretary of spent fuel and waste disposition Sam Brinton for another luggage theft, this time at Las Vegas’s Harry Reid airport. (cc: @EMPublications)

DOE spent fuel lead Brinton accused of second luggage theft.



by @BenjaminSWeiss, confirming today's reports with warrant from Las Vegas Metro PD.

Waste has been Emplaced! 🚮

We have finally begun emplacing defense-related transuranic (TRU) waste in Panel 8 of #WIPP.

Read more about the waste emplacement here: https://wipp.energy.gov/wipp_news_20221123-2.asp

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