The environmental remediation subsidiary of Homeland Security Capital Corp. (OTC Bulletin Board: HOMS), named Safety and Ecology Corporation (SEC) has received the task order OR22 for complex environmental cleanup operations at the Oak Ridge National Laboratory (ORNL).
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The contract was awarded to the company by the U.S. Department of Energy’s (DOE) Oak Ridge Office (ORO) as part of the American Recovery and Reinvestment Act. The contract has a total value of $50.2 million, if all options are exercised.
Under the initial $16.6 million task order, the SEC team will remove contaminants and equipment, preparing Building 3038 for deactivation and decommissioning (D&D). SEX will work to destroy hot cells, located at ORNL’s Building 3026. The 18-month project is expected to be completed by the end of August, 2011.
The contract also contains options to remove and disposition legacy contaminants from ORNL Building 3517 and the D&D of ORNL Buildings 3038 and 2026. Should these options be exercised, the total value of the contract is raised to $50.2 million.
Homeland Security Capital Corporation is a company engaged in the strategic acquisition, development, and consolidation of homeland security-related businesses, within the fragmented homeland security industry. The company is focused on creating long-term value by taking controlling interest and developing its subsidiary companies through superior operations and management.
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