Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q1 2024 Earnings Call Transcript

Aaron Warwick: So I mean you mentioned there is some competition even though they can’t do what you say you can do. But my understanding was that kind of what got you on this track to begin with of the R&D on this PFAS treatment is that you already have some customers. Is that an accurate statement that you already have some people that you — that are ready for this treatment to proceed once you get the plant up and running?

Mark Duff: We do, Aaron. We don’t have contracts for significant volumes in place is what we have several clients that we deal with on a regular monthly basis that have very defined inventories and are waiting for us to get the system up and running. So when we get closer to operations, we’ll be moving towards those contracts. Some of them were actually taking samples from now to make sure that we can perform the way we say we are. And that’s been strategic for us. And some of the larger folks that have bigger inventories, they’re shooting us or sending us a liquid samples for us to run in our pilot scale testing. So yes, we do have some locked in. We shouldn’t say locked in. We have some defined that will be locked in, in the next couple of weeks and some that we’re also pursuing grants with to do demonstrations as well.

Aaron Warwick: Last thing, I guess, for me would be any sort of partnership or licensing interest from any of these larger players in the space that you think could be additional source of revenue for you besides your own plant?

Mark Duff: We see licensing to be an option. We have not pursued that we really had discussions about this specifically yet until we can show performance of our operational system. But we’ve talked to several companies that would align very well with that and have very far reach in regards to entering the market and have clients that have significant volumes or clients themselves that have the volumes, and that will be a step that we’ll be looking to address in the January time frame.

Operator: There are no further questions in queue at this time. I would now like to turn the floor back over to management for any closing remarks.

Mark Duff: All right. I’d like to thank everyone for participating in our first quarter conference call. As you can see, hopefully, we are quite confident in the outlook for the business over the next few years. We look forward to providing further updates as we continue to execute our strategy. We appreciate the continued support and patience of our shareholders, and we look forward to providing further updates as developments unfold. Thank you.

Operator: Thank you. This does conclude today’s conference call. You may disconnect your phone lines at this time and have a wonderful day. Thank you for your participation.