SEC Awarded $2.6 Million in Stimulus Task Orders

SEC to Perform Hazardous Environmental Services in Oak Ridge, TN

Arlington, Virginia – November 18, 2009 – A Subsidiary of Homeland Security Capital Corporation (HOMS), Safety and Ecology Corporation (SEC), has been awarded two task orders from B&W Technical Services for environmental services at the Y-12 National Security Complex in Oak Ridge, TN., funded by the American Recovery and Reinvestment Act (ARRA).

“SEC has proven to be prepared and qualified to perform these initial ARRA tasks,” C. Thomas McMillen, Chairman and CEO of HOMS. “We are pleased to support B&W and DOE ensuring safe and efficient project completion.”

These task orders fall under SEC’s existing Infrastructure Reduction General Ordering agreement with B&W Technical Services. The first mentioned task order is valued at $1.8 million to perform hazardous abatement of multiple structures referred to as the Biology Complex Buildings. Scheduled to conclude in March 2010, this task order will employ approximately 40 people including technical and field support personnel. In the second task order, valued at $760K, the SEC team of approximately 15 personnel will perform hazardous materials removal, deactivation and demolition, waste disposition, and demolition including site restoration, to be completed by March 2010. Both task orders are being performed at the Y-12 National Security Complex in Oak Ridge, TN.

“By removing the contaminated footprint of buildings with radiological and hazardous material, and thus reducing risk to people and the environment, SEC is supporting Y-12’s goal toward eliminating buildings on the disposition list,” said Christopher Leichtweis, President of HOMS and CEO of SEC. “Performing this remediation allows Y-12 not only to reduce risks to workers and the environment but also to accelerate the site’s transformation plans.”

According to a November 2009 presentation by John Krueger, Senior Program Director B&W, discussing Y-12’s ARRA program, “the economic impact includes: 449 jobs created/saved; $20.9M in total subcontractor/vendor awards; and 93.1% of ARRA procurements have gone to small businesses.” This funding is part of the $755 million distributed by the U.S. Department of Energy’s Oak Ridge Office Environmental Management Recovery Act program. The task orders will be supported by subcontractor E. Luke Greene for asbestos abatement services.

About B&W Technology
The Babcock & Wilcox Company is a leading, international provider of energy products and services. B&W Technical Services Group, Inc. (B&W TSG) manages complex, high-consequence nuclear and national security operations, including nuclear production facilities and the nation's Strategic Petroleum Reserve. B&W TSG provides a broad range of technical services to the U.S. Department of Energy and the National Nuclear Security Administration's operations.