Parsons to Support Clients in Addressing PFAS and Achieving EPA’s National PFAS Drinking Water Regulations
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With the U.S. Environmental Protection Agency (EPA) setting national regulations for PFAS in drinking water, businesses face a significant shift in compliance requirements. This development is expected to drive demand for specialized remediation services, potentially impacting the bottom line of companies like Parsons Corporation that offer such services. The stringent regulations could also lead to increased costs for industries that have historically discharged PFAS, as they may now require expensive remediation to meet the new standards.
Furthermore, the investment in innovative PFAS remediation technologies by Parsons signifies a proactive approach to anticipated regulatory challenges. This not only positions the company as a leader in PFAS remediation but also suggests a strategic move to capture market share in a niche but growing sector. The patent-pending technology for destroying PFAS could be a game-changer if it proves to be cost-effective and scalable, potentially opening new revenue streams for Parsons and offering long-term benefits to stakeholders.
The announcement of Parsons Corporation's readiness to support the implementation of EPA's PFAS regulations could be a positive signal to investors, hinting at future revenue growth from an expanding client base. The mention of a patent-pending technology and a history of successful PFAS investigations and remediations builds investor confidence in the company's R&D capabilities and its potential to secure a competitive edge.
However, investors should monitor the scalability and adoption rate of Parsons' new technologies, as well as the regulatory landscape, which could affect the speed and extent of market penetration. The initial costs of R&D and the implementation of new technologies may impact short-term financials, but successful deployment could enhance long-term profitability and shareholder value.
Parsons' approach to PFAS investigation and remediation, which includes AI-based data analysis and three-dimensional site conceptual models, demonstrates an advanced level of technical sophistication. This could lead to more efficient and effective PFAS management strategies. The ability to destroy PFAS in various environments addresses a critical gap in current remediation practices, as many existing methods focus on containment rather than destruction.
The development of such technology not only has implications for environmental safety but also signifies a potential shift in industry standards for water treatment. If Parsons' technology proves successful, it could set a new benchmark for PFAS remediation, influencing the practices of other companies in the sector and possibly leading to broader industry innovation.
CHANTILLY, Va., April 11, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), an industry leading Per and Polyfluoroalkyl Substances (PFAS) investigation and remediation company, is ready to support our current and future clients in addressing PFAS and achieving the U.S. Environmental Protection Agency’s (EPA) first-ever national regulations for PFAS in drinking water. Parsons has advised clients around the world on PFAS investigation and remediation challenges for more than 15 years.
“As a leading PFAS services provider, Parsons understands the EPA’s focus on reducing chemicals in our drinking water and stands ready to support our clients in assessing and addressing their PFAS challenges,” said Dan Griffiths, Parsons’ Vice President and PFAS Practice Director. “Parsons has completed nearly 2,000 PFAS investigations for industrial, commercial, and federal clients, and designed and installed over 7,000 PFAS point of entry treatment systems, in addition to building large full scale water treatment plants to remove PFAS from drinking water and wastewater. We are confident that we can leverage this expertise to assist clients across the country achieve the new standard through client advocacy and technical expertise.”
Parsons utilizes an innovative PFAS investigation approach featuring flexible work planning, real-time AI-based data analysis and improved decision-making, three-dimensional site conceptual models with real-time updates, advanced communication leveraging dashboarding, and close collaboration with our clients and regulatory agencies to produce higher value investigation datasets at lower costs. The result is PFAS investigations that are completed quickly with streamlined agency approvable reporting documents.
The company is also investing in the development of PFAS remedial technologies needed by the industry to meet the EPA’s newly published standards, including a first of its kind, patent pending remedial technology that can destroy PFAS in soil and groundwater as well as wastewater. Parsons operates a Research and Development Laboratory in Syracuse, New York, that has been a leader in water treatment innovation for more than 30 years and continues to provide an industry leading platform for new research and development of advanced technologies designed to solve environmental challenges for our clients and society as a whole.
To learn more about Parsons’ PFAS approach and solutions, visit parsons.com/pfas/
About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
Media Contact:
Bernadette Miller
+1 980.253.9781
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Investor Relations Contact:
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+ 1 703.775.6191
Dave.Spille@parsons.com
