Monday , August 14, 2006 11:35 ET
NEW YORK, NY -- (MARKET WIRE) -- 08/14/06 -- Commodore Applied Technologies, Inc. (OTCBB: CXIA), today announced that the Company's wholly owned subsidiary, Commodore Advanced Sciences, Inc., (CASI) has been awarded an Advanced Remediation Demonstration contract by the Department of Energy's Office of Environmental Management (DOE-EM) for the Company's technology for the separation of radioactive (surrogate) and RCRA heavy metals from sludges and other waste matrices.
The DOE-EM awarded 12 contracts totaling $3.3 million to support the development of technologies that have the potential to reduce cleanup costs and increase the safety and efficiency of treating and disposing of various waste streams, including radioactive waste at such sites as Hanford, Idaho, Savannah River, and others.
CASI's Phase I contract will be performed over a six month period. Phase I proposed activities include: laboratory/pilot-scale test results, developing a technical approach for demonstration, scale-up and implementation schedule, detailed system design, and a detailed cost estimate for implementation in Phase II.
Chairman and CEO Mr. Shelby Brewer said: "Over the past several years, CASI has focused on the delivery of innovative environmental services to the DOE-EM. This recent contract award will allow us to expand our technology offerings to the DOE-EM to assist them in their ongoing efforts to provide the safest, most cost-effective waste treatment processes for their facilities."
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 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.
YES It is turning positive and with all these contracts...it should blow soon...as people take notice..
TTM 2006 0.380
Shares Outstanding: 8 million only!!!!,