ARLINGTON, Va.--(BUSINESS WIRE)--Homeland Security Capital Corporation ("HSCC") (OTCBB: HOMS) announced today that its environmental remediation subsidiary, Safety and Ecology Corporation (SEC), was awarded a contract valued just under $500K with UT-Battelle, LLC, whose sole purpose is the management of the Oak Ridge National Laboratory (ORNL) and is under contract with the U.S. Department of Energy (DOE).
This project supports the mission for the modernization of ORNL located in Oak Ridge, Tennessee. The SEC team is providing all the labor, materials, equipment, and tools required to safely perform demolition of a 160-foot tall radial brick chimney that vents exhaust gases from boilers at the steam plant at Oak Ridge National Laboratory (ORNL). SEC is also responsible for transporting and disposing waste at an onsite landfill. The project will be completed by mid-December 2008.
"Our work with UT-Battelle is an integral part of our commitment to supporting the Department of Energy's expansion of science and technology by renovating, refurbishing, and/or removing old facilitates to allow for new construction," said SEC's CEO and HSCC President, Christopher Leichtweis.
"Our SEC subsidiary continues to demonstrate they are a reputable contractor for DOE, as well as other federal agencies, whether as a subcontractor or prime contractor," said former Maryland Congressman C. Thomas McMillen, Homeland Security Capital Corporation's Chairman and CEO.
A not-for-profit company, known as UT-Battelle, has been established for the sole purpose of managing and operating the Oak Ridge National Laboratory for the U.S. Department of Energy. Formed as a 50-50 limited liability partnership between the University of Tennessee and Battelle, UT-Battelle is the legal entity responsible for leading ORNL as the Laboratory enters the 21st Century. UT-Battelle's plan for ORNL is guided by the commitment to achieving Simultaneous Excellence in the areas of Science and Technology, Laboratory Operations, and Community Service.
About Safety and Ecology Corporation
Safety and Ecology Corporation is a rapidly growing environmental services company in the U.S., providing services nationally, in Europe and the Caribbean. The Company specializes in the removal and remediation of hazardous nuclear materials for the U.S. Department of Energy, U.S. Department of Defense, and other federal agencies. SEC also provides advanced environmental services for private industry across the country and internationally. Since its founding in 1991, SEC has grown approximately 30 percent per year, and has emerged as a technology innovator with more than 420 personnel worldwide and with annual revenues of more than $55 million. For more information on SEC, please visit us: www.sec-tn.com.
About Homeland Security Capital Corporation
HSCC is an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief, and security solutions to government and commercial customers through its portfolio companies. Former Maryland Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland, heads the company. Homeland Security Capital Corporation operates businesses that provide homeland security products and services solutions, growing organically and by acquisitions. The company is targeting emerging companies that are generating revenues but face challenges in scaling their businesses to capitalize on homeland security opportunities.
Homeland Security Capital Corporation's portfolio of companies, in addition to Safety and Ecology Corporation, include:
Polimatrix, Inc., a system integrator and total solutions provider delivering advanced radiation and nuclear protection and detection services. The company has been operating since September 2006 as a joint venture between Homeland Security Capital Corporation and Polimaster, Inc. For more information about Polimatrix, visit www.polimatrix.com.
Nexus Technologies Group, a mid-Atlantic security integrator for the corporate and governmental security markets that specializes in non-proprietary integrated security solutions including access control, alarm, video, communication, perimeter protection and bomb and metal detection security systems. Nexus provides integrated security solutions for the corporate and government security markets. For more information about Nexus, visit www.nexusna.com.
For more information about Homeland Security Capital Corporation, visit www.hscapcorp.com.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future activities, performance, events or developments, are forward-looking statements. Although Homeland Security Capital Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements.
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