But it is — it’s got to move forward, because it’s got the remediation contract has been selected, and is ready to mobilize, and are just waiting for us to be awarded, so we can get going. I was over there last week, I was actually there Monday, Tuesday this week, and everything is on track. I can make an announcement here in the next few weeks, so I will wait for that to occur there. Once that happens, as I mentioned before it opens up a lot of opportunity in Europe, and it kind of — begins implementation of our overall European strategy. As far as OSMS, that one has very significant revenue implications for us, because we have such a big piece of scope, defined from the overall contract. Again, several bidders that it’s got to be considered there.
The competition is a lot bigger, and I just can’t speculate on when that’s going to be award, other than to say, the DOE asked for an 18-day, it was extension into November, from the end of October. So when they asked for extension, it’s basically asking you to maintain your costing, without change for another 18 days. So I got to believe that’s going to come out in the next week or so. So we see these things coming. It’s been very frustrating for us, not understanding how to plan for them. But in the meantime, you know, the point is that we’re pursuing very, very aggressively other bids and opportunities of the same magnitude, and the same impact, and we’re getting on good teams, and providing innovation into the proposals that are needed to win.
So I do feel like we’ll — we’re going to getting companies nailed down, the next six months, and we’ll see those revenues go the direction that we’re talking to our investors about. To answer your question, Ross.
Ross Taylor: Honestly, kind of because I’m really trying to wrestle with the idea of, you know, we’ve been kind of you’ve been stuck in, then I understand you can’t control this. I’m trying to get understand that — if we get Italy, what does that open up? Because that opens up Europe, that probably opens up Croatia, and some other opportunities you’ve talked about in the past. If Italy comes to pass before the end of the year, could we see $20 million out of Europe next year?
Mark Duff: It’s not necessarily contingent on the GRC — the JRC, it has a big impact in that. We have some agreements for building a plant in England with Westing house, and because so much time has gone by, we’ll need to revisit that right now, again, met with him last week. That’s all still in place. And what it does is, it provides the backlog for that plant, and the ability to move forward with it, which would be able to service all of Europe. And not to answer your question, that’s going to take several years to build that plan. However, what we have worked several additional deals with clients in Europe, to begin shipping to us irrespective of that plant being there, in anticipation of it coming eventually. But the waste backlog in Germany, in Croatia, in the UK, are all such that they have to start moving those waste in the near term, and are not in a position to wait for that plant.
So we anticipate seeing our backlog of international waste grow from where it is right now, in the $2 million to $3 million a year range, closer to an annualized receipt in the $7 million to $10 million range by the end of ’24. So again, Croatia is a big piece — excuse me, JRC is a big piece of that, but not all contingent on that, and in talking to the German clients, we have there now tens of thousands of drums and storage over there, that have to be moved, as a facilities have reached their capacity, and regulatory drivers have forced them to move those waste. And where we are the only successful organization that’s has been able to take this waste stream in the US, and return other residues back successfully. So we remain optimistic on that, and really feel that.
But by the end of ’24, the annualized, we should be close to $10 million a year in revenues from Europe.
Ross Taylor: Okay. And then as we obviously, we just are kind of waiting for the dough on these other issues, when you — with that kind of — what do you think as a base load that kind of you’ve talked about profitability, does Europe come in at company average profitability?
Mark Duff: Correct. Yes, it does. So our treatment, our costs that we provide for our pricing we provide for the European market, is pretty close to what we provide here. And then you tack on the transportation costs, but that’s pretty much only options available, for most of those folks over there.
Ross Taylor: Okay. I’ll let someone come in and ask obviously the soon — it’s outside of your control. But obviously, I think you can you can tell from today’s action, investors are getting frustrated, and we’d love to see some tangible signs of victory between here and the end of the year, to remind us, because it strikes me, as from what you’re saying, this is a calendar play. 2025 should be a pretty powerful year, earnings wise, as you ramp up everything that’s going, and you have a chance to have it be hugely powerful. You picked up an enterprise win and some other factors. So thank you very much.
Mark Duff: You bet, Ross. We’re very sensitive to what you’re saying to. You know, it’s very frustrating us. We are the department, and most of our government agencies, typically make announcements on Thursdays. Every Thursday, because why will we all look at and say, oh, my gosh, another week’s gone by, and you know, these bids continue to be out there waiting for announcement. And but all we can do is keep our heads down, and keep fighting for new opportunities. And I’m very proud of what we’ve come up with, and direction we’re heading in, with those new opportunities that keep those irons in the fire. So, I appreciate your support.
Ross Taylor: Yes. Thank you, sir. You take care, keep looking at it.
Mark Duff: Thanks, Ross.
Operator: Your next question is coming from William Miller.
Unidentified Analyst: Yes. My question really is, I think all of our stockholders understand that we’d be billionaires, if writing RFPs and I mean, demand generated a bottom line, but they don’t. So what I’d like to know is at the end of last quarter, how many RFPs or bids did you have out, of those who were out, how many were awarded, and have those awarded, how many did you win? You constantly talk about our statistical win percentage, but we the stockholders just hear about stuff. So how many bids you got outstanding, how many did you win last quarter? How many do you lose, let us determine whether you’ve got a future or not?
Mark Duff: Well, we’ve I don’t have the numbers in front of me, but I can tell you that we have about $700 million in potential rev total contract values outstanding. And last quarter Q3, we actually had a good quarter. We had we’re pretty — I don’t have the statistic exactly, but we had wins for Niagara Falls, Santa Susana, a couple of commercial clients, [Boning Randy Minds] and Ion Beam, Los Alamos and this fruit job, I would estimate that would be in the 30% to 40% range of the number of bids we submitted. So there’s two ways to provide an answer to you. One is what is the percentage of revenue potential that you won, and what is the percentage of number of bids that you bid. And our goal is typically to get to a 40% win rate on the number of bids that we submit, because sometime you submit a much smaller, and sometimes there’s a couple of big ones.
When you do it the other way, it’s not necessarily a value — a statistic versus how many bids you submitted for semi wins. So we view a 40% win rate, as it’s kind of industry standard in this business. And we typically close between 20% and 40%, sometimes it depends on as to what was the government, or wherever the client is as announced, so which was they haven’t. So it’s difficult to show — to answer your question, without a lot of caveats and data. So but we do track that, and we can tried to provide a little bit more information on the next call, in regards to your question.
