Million-PlusNEW YORK, NY -- (MARKET WIRE) -- 09/02/04 -- Commodore Applied
Technologies, Inc. (OTC BB: CXII), today announced that its wholly
owned engineering services subsidiary, Commodore Advanced Sciences,
Inc. (CASI), has been awarded an environmental sampling and data
integration contract by Bechtel Jacobs Company LLC of Oak Ridge, TN.
CASI is the lead small business member of the Commodore Advanced
Sciences Team (CAST), which also includes team members Science
Applications International, Inc. (SAIC), and RCS Corporation (RCS).
The Environmental Data Acquisition and Management (eDAM) contract
awarded to CAST is valued at over $12 million for the base and option
periods September 2004-2008. The eDAM contract scope of work includes
three major components: execution of environmental sampling, sample
management, and environmental information management. Sampling
includes collecting soil, groundwater, surface water, air, sediment,
biological, waste characterization, and building D&D samples in
support of site closures and CERCLA, RCRA, NPDES, and TSCA compliance
at all three U. S. Department of Energy (DOE) Oak Ridge sites: ETTP,
ORNL, and Y-12.
Sample Management includes packaging and shipping samples to
analytical laboratories subcontracted to CASI and verifying/validating
data received from subcontracted laboratories to provide continuous
evaluation of laboratory performance.
Environmental Information Management includes management, reporting,
and archival of all data obtained by this program and other Bechtel
Jacobs Company subcontractors, using three existing databases on an
Oracle platform.
Shelby Brewer, Commodore's Chairman and CEO said, "We are pleased to
support Bechtel Jacobs in its role as DOE's environmental management
contractor. We have a strong integrated team with SAIC and RCS.
Transition from the incumbent contractor to the Commodore team will
begin as quickly as possible." Brewer continued, "Commodore Applied
Technologies, Inc. has two business thrusts -- engineering services,
and the applications of its patented technologies, such as Solvated
Electron Technology -- SET(TM). The engineering services part of our
portfolio is managed by our subsidiary Commodore Advanced Sciences.
This award from Bechtel Jacobs means a great deal to our company in
that it will stabilize the engineering services part of our portfolio
and provide a platform for growth."
Mack Jones, President of Commodore Advanced Sciences, noted that this
contract will significantly increase the size of its Oak Ridge
office, which was opened over twenty-five years ago to support the U.
S. Department of Energy's (DOE) management of legacy waste issues
related to the country's national defense programs. "The
Environmental Data Acquisitions and Management work scope is an
example of many such issues that must be handled meticulously,
producing high integrity data, safely and efficiently," said Jones.
"The CAST is the very best combined team of skilled and experienced
professionals to perform this work scope," he continued.
Bechtel Jacobs Company has been the environmental management
contractor for DOE's Oak Ridge Operations since 1998, employing about
1,000 workers in Oak Ridge, TN, Paducah, KY, and Portsmouth OH.
Bechtel Jacobs oversees a number of subcontractors who assist in
performing the cleanup work at these locations.
Commodore Applied Technologies, Inc. is a diverse technical solutions
company focused on high-end environmental markets. The Commodore
family of companies includes subsidiaries Commodore Solution
Technologies and Commodore Advanced Sciences. The Commodore
companies provide technical engineering services and patented
remediation technologies designed to treat hazardous waste from
nuclear and chemical sources. More information is available on the
Commodore web site at www.commodore.com.
This Press Release contains forward-looking statements that are based
on our current expectations, beliefs and assumptions about the
industry and markets in which Commodore Applied Technologies, Inc.
and its subsidiaries operate. Such forward-looking statements
involve known and unknown risks, uncertainties, and other factors
that may cause Commodore's actual results to be materially different
from any future results expressed or implied by these statements.
Actual results may differ materially from what is expressed in these
statements, and no assurance can be given that Commodore can
successfully implement its core business strategy and improve future
earnings.
The factors that may cause Commodore's actual results to differ from
its forward-looking statements include: Commodore's current critical
need for additional cash to sustain existing operations and meet
ongoing existing obligations and capital requirements; Commodore's
ability to implement its commercial waste processing operations,
including obtaining commercial waste processing contracts and
processing waste under such contracts in a timely and cost-effective
manner; the timing and award of contracts by the U.S. Department of
Energy for the clean-up of waste sites administered by it; the
acceptance and implementation of Commodore's waste treatment
technologies in the government and commercial sectors; and other
large technical support services projects. All forward-looking
statements are also expressly qualified in their entirety by the
cautionary statements included in Commodore's SEC filings, including
its quarterly reports on Form 10-Q and its annual report on Form
10-K.
Contact:
James M. DeAngelis
(212) 308-5800
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