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Archive Begins June, 1998


Commodore Applied Technologies Streamlines Operations

NEW YORK, N.Y., June 3, 1998 - Commodore Applied Technologies, Inc. (ASE:CXI, CXIW), announced at its annual meeting today that it was taking steps to streamline its operations to reduce costs and strengthen its operating functions.

Paul E. Hannesson, Commodore chairman and CEO, told shareholders that existing offices and facilities in Great Neck, N.Y., Marengo, Ohio, and Columbus, Ohio, would be closed. The McLean, Va., office would be downsized. He said there would be a commensurate personnel reduction. These actions are expected to reduce recurring expenditures by approximately one-third while maintaining the company's ability to deliver quality products and services.

Commodore Applied had shared certain officers and directors with Commodore Environmental Services, Inc (OTCBB:COES). Mr. Hannesson said such arrangements were being discontinued, and that he and certain other senior officers and directors of the corporation would no longer serve in this dual role. Other officers would remain with Commodore Environmental and resign from their positions in Commodore Applied. The corporation's board of directors will meet tomorrow to address details of the changes.

Commodore Environmental Services, Inc. owns approximately 42 percent of Commodore Applied Technologies, Inc.

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EPA Expands Commodore's Nationwide Operating Permit

NEW YORK, NEW YORK, June 2, 1998 -- The U.S. Environmental Protection Agency has expanded Commodore Applied Technologies, Inc.'s (ASE: CXI) nationwide operating permit to include the destruction of PCBs in oil, the company announced today.
The EPA's award also permits, for the first time, Commodore's second-generation, commercial-scale L1200 system. Commodore's transportable, non-thermal SET™ process had been previously permitted by the EPA to destroy PCBs in soils and on metallic surfaces."

Most of the PCB contamination is found either in soils or oils," said Paul E. Hannesson, Commodore chairman and CEO. "This action by the EPA means that the SET™ process becomes an applicable remediation technology for many more Superfund and Department of Energy sites."

The EPA permit also indicates, for the first time, that there is a safe, non-thermal technology that can destroy or neutralize the most toxic wastes. We as a nation can begin eliminating these toxins, rather than worrying about their safe storage."

Mr. Hannesson said that the issuance of the EPA permit to Commodore, which was based on operations performed in June 1997, comes at a time of renewed attention to the dangers posed by the Superfund poisons. "Commodore and its affiliates have contracts at two Superfund sites now, we've demonstrated at others and we expect additional Superfund contracts," he said.
The White House last week said that it would ask Congress to release $650 million for Superfund cleanups at 171 sites around the country. These funds would be in addition to the $1.4 billion that Congress approved for 1998.

Commodore said that its L1200 system will be joined by a third-generation, commercial-scale system, the S-10, in the third quarter. The L1200 is designed to remediate liquids, such as solvents, oils and explosives. The S-10 is designed to process solids, though it is more versatile, capable of handling both liquids and solids.

The amendment to the EPA permit was forwarded by John W. Melone, director, National Program Chemicals Division. It "authorizes Commodore to use its L1200 unit which was successfully demonstrated at Marengo, Ohio to destroy waste oils containing PCBs." It also "authorizes Commodore to use the L1200 unit to recycle waste oils containing PCBs to a level of less than 2 parts per million."

Commodore's SET™ process has been successfully operating under its initial EPA permit at the DOE Weldon Spring, Mo. facility, a Superfund site. That S-4 processing system has been remediating mixed waste, eliminating the hazardous component by destroying PCBs, under a contract with Morrison Knudsen, the DOE site manager. The SET™ process is also expected to be the only non-incineration technology approved for the destruction of PCBs by the EPA at the New Bedford, Mass., Harbor Superfund site.

The patented SET™ process is the most powerful chemical reduction process and has been proven effective in destroying or neutralizing PCBs, dioxins, CFCs, HCFCs, pesticides and chemical warfare agents.

 Teledyne-Commodore, LLC, a 50-50 joint venture of Allegheny Teledyne Incorporated (NYSE:ALT) and Commodore, that uses the SET™ process, is a demonstration technology in the Assembled Chemical Weapons Assessment program. Under the ACWA schedule, Teledyne-Commodore is expected to have completed full-scale neutralization of chemical warfare agents by December.

The Commodore family includes Commodore Applied Technologies, Inc. (ASE:CXI, CXIW), Commodore Separation Technologies, Inc. (NASDAQ: CXOT, CXOTW, CXOTP), Commodore Solution Technologies, Inc. and its wholly-owned engineering subsidiary, Commodore Advanced Sciences, Inc. Commodore Applied Technologies, Inc., is approximately 42 percent owned by Commodore Environmental Services, Inc. (OTCBB: COES).

These materials contain forward-looking statements based on a series of projections and estimates regarding economics within our markets, the industries in which we operate, the effects of legislation and regulations, as well as business and competitive outlook.

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Commodore Applied Technologies Announces 
New Web Site

New York, New York, June 2, 1998 - Commodore Applied Technologies, Inc., a New York-based environmental process technology company (ASE:CXI, CXIW), announced today the opening of a new Web site. This site will enable current customers, potential customers, and investors in the company among others to easily obtain information on the company, its products and services, according to company Chairman and CEO, Paul E. Hannesson.

The new site is located at www.commodore.com.
"Our new Web site will be a resource to our varied audiences, and we hope that this further enables our company to quickly disseminate information about our work and the developments in our technology" said Hannesson.

Commodore's mission is to solve some of the world's most difficult environmental problems through its leading-edge technologies. Commodore Applied Technologies, Inc. has developed and is commercializing patented process technologies for destroying hazardous waste and chemical weapons, and separating and recovering materials from waste streams. Commodore has two primary technologies now being employed through its operating companies.

Commodore's proprietary SoLV™ process, incorporated its patented Solvated Electron Technology (SET™), is a non-thermal chemical process that destroys halogenated and other organic compounds. Commodore Separation Technologies, Inc.'s process, trademarked as SLiM(tm), separates and recovers metals and other valuable substances from aqueous and gaseous waste streams.

The Commodore family includes Commodore Applied Technologies, Inc. (ASE:CXI, CXIW), Commodore Separation Technologies, Inc. (NASDAQ: CXOT, CXOTW, CXOTP), Commodore Solution Technologies, Inc. and its wholly owned engineering subsidiary, Commodore Advanced Sciences, Inc. Commodore Applied Technologies, Inc., is approximately 42 percent owned by Commodore Environmental Services, Inc. (OTCBB: COES).

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Carlsbad Site Ready for Radioactive Waste Disposal
Says Commodore Applied Technologies, Inc.

New York, New York, June 1, 1998 -- Radioactive wastes from 23 locations around the U.S. could start arriving at Carlsbad, NM as early as next month, when a federal permit governing America’s -- and the world’s -- first deep nuclear waste disposal site could take effect. Plutonium and other transuranic wastes from more than a half-century of nuclear weapons development will be placed in a massive salt formation in a dedicated mine excavated one-half mile below a remote desert.

Some of America’s leading scientists say the area has been stable for some 250 million years. Over time, the salt will naturally fill in around the disposed wastes, locking them in place forever.

Transuranic waste is typically laboratory trash and equipment that has been contaminated by trace amounts of plutonium and other radioactive elements that are heavier than uranium. Transuranic elements are of concern because it takes a very long time (in some cases, hundreds of thousands of years) for the radioactivity to become harmless.

The program cleared its final regulatory hurdle last week, after nearly 25 years of research, study, negotiation, and litigation. In the long-awaited milestone, the U.S. Environmental Agency approved the Department of Energy’s application for the Waste Isolation Pilot Plant (WIPP). In response, the Secretary of Energy notified Congress that the WIPP is ready to proceed with disposal operations, initiating a 30-day waiting period that ends June 17. The WIPP is located in a remote area of southeastern New Mexico.

Peter E. Harrod, P.E., president of Commodore Advanced Sciences, Inc. (CAS), said that the repository has been designed and engineered to protect public health and the environment from the harmful effects of radioactive materials for thousands of years. CAS is the DOE Carlsbad Area Office’s Technical Assistance Contractor.

"Considering the importance of the problem and how long it took to get to this stage," said Harrod, "another 30 days doesn’t seem so very long."

"Safety is paramount," says Harrod. "We are totally committed to support the DOE’s efforts to remain on the cutting edge of safe disposal policies, practices, and procedures, and we believe this facility will contribute to the long-term protection of public health and the environment."

CAS, headquartered in Albuquerque, assisted the DOE in areas such as site operations, the oversight of contractors conducting experiments and tests, compliance with environmental and safety laws and regulations, public outreach and involvement, and oversight and audits of all procedures and operations to make sure that all requirements are being followed.

Paul E. Hannesson, chief executive officer of Commodore Applied, said, "We’re very proud of CAS’s role in developing the world’s first deep geologic repository. The project gives us unique credentials, not only in analyzing and evaluating the capabilities of a nuclear waste disposal site but also in helping DOE achieve regulatory compliance with a wide range of environmental regulations and developing recommendations that recognize the concerns of public and other interested groups."

CAS, a subsidiary of Commodore Applied Technologies, Inc., has supported the DOE’s efforts to get the WIPP open for about ten years. The company is in the third year of a five-year, $52-million contract.

The mission of the Commodore group of companies is to commercialize new process technologies. The Commodore family includes Commodore Applied Technologies, Inc. (ASE:CXI, CXIW), Commodore Separation Technologies, Inc. (NASDAQ: CXOT, CXOTW, CXOTP), Commodore Solution Technologies, Inc. and its wholly owned engineering subsidiary, Commodore Advanced Sciences, Inc. Commodore Applied Technologies, Inc., is approximately 42 percent owned by Commodore Environmental Services, Inc. (OTCBB: COES).

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Kenneth J. Houle Dies, President of
Commodore Applied Technologies, Inc.’s Subsidiary

NEW YORK, NEW YORK, May 27, 1998 – Kenneth J. Houle, 59, president of Commodore Separation Technologies, Inc. (NASDAQ:CXOT), a publicly-traded subsidiary of Commodore Applied Technologies, Inc. (ASE:CXI), died yesterday in Atlanta, following a sudden illness.

Mr. Houle had been president and chief operating officer of Commodore since January 1997. He helped the company successfully complete its initial public offering of stock in April 1997 and realize its first commercial contracts at the Port of Baltimore.

"Ken was a wonderful friend," said Paul E. Hannesson, Commodore chairman and chief executive officer. "He helped build a strong organization. He will be sorely missed."

Mr. Houle previously served as president of The Hall Chemical Company, a manufacturer of inorganic metal catalysts and compounds, from March 1995 to September 1996. Prior to that time he had served as a senior officer at International Specialty Products, Inc. and Ruetgers-Nease Chemical Company.

He received his undergraduate degree from Siena College and completed graduate studies at Columbia University and Iowa State University. He was a board member of the Chemist’s Club, New York, and a member of the American Chemical Society, American Institute of Chemical Engineers and Societe de Chemie Industrielle, American section. He was also a trustee and board member of the Ohio Center of Science and Industry.

Mr. Houle is survived by his children, Kenneth J. Houle, Jr., East Stroudsburg, Pa., Scott M. Houle, Dallas, Tx., Laurie A. Cameron, Williamstown, N.J., Jane E. Koveleskie, Florence, N.J., Thomas P. Houle, Westerville, Ohio, and Jennifer J. Houle, Greenwood Lake, N.Y.

Mr. Hannesson said that Carl O. Magnell would serve as acting president and chief operating officer. Mr. Magnell has been with the Commodore companies in various senior capacities since 1994. In 1996, Mr. Magnell had served as a senior vice president for Commodore Separation Technologies. He currently also serves as president, Commodore Polymer Technologies, Inc., a wholly-owned subsidiary of Commodore Environmental Services, Inc. (OTCBB: COES).

The Company has begun the process of finding the best qualified replacement. Mr. Hannesson said that Commodore is fortunate to have a seasoned team of managers, including W.S. Winston Ho, senior vice president, technology, James M. DeAngelis, senior vice president, sales and marketing, and Michael D. Kiehnau, vice president, finance and operations.
Commodore Separation Technologies is 87 % owned by Commodore Applied Technologies, Inc. (ASE: CXI). Commodore Applied Technologies is 42% owned by Commodore Environmental Services, Inc. (OTCBB:COES).

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Commodore Applied Technologies, Inc. Reports First Quarter Results

New York, NY - May 14, 1998 - Commodore Applied Technologies, Inc. (ASE: CXI, CXIW), today announced financial results for the three-month period ended March 31, 1998 (see table below).

Commodore Applied Technologies, Inc. and Subsidiaries
Condensed, Consolidated Statements of Operations (Unaudited) Three Months Ended March 31,

Revenues

1998

1997

Net Loss

$4,214,000

$5,027,000

Net Loss
Per Share - Basic and Diluted

(.15)

(.15)

Weighted Average Number of Shares Outstanding

22,950,000

21,650,000

Commodore is directly commercializing the solvated electron technology (SET™), and through a subsidiary, the supported liquid membrane (SLiM™) process. These important process technologies have been ushered through the research and development phases to where both proprietary technologies have commercial relevance and both are operating under commercial contracts in affiliated companies.

The SET™ process is the basis of the SoLV™ system, a new environmental technology system for cleaning up the most toxic and dangerous contaminants - namely, the thousands of tons of chemical weapons found worldwide and the huge deposits of mixed waste, which is a combination of radioactive material contaminated with a hazardous component. Importantly, the initial SET™ commercial contract in the Department of Energy market, is a mixed waste remediation contract with Morrison Knudsen, manager of the Weldon Spring, Mo. DOE facility.

In the second major SET™ market, the Program Manager for the Assembled Chemical Weapons Assessment (ACWA) announced that Teledyne-Commodore, LLC, a 50/50 joint venture with Allegheny Teledyne Incorporated (NYSE: ALT), has been selected to enter the second phase of the program designed to find alternative technologies to incineration for the neutralization of chemical weapons. Under the ACWA timeline, Teledyne-Commodore LLC, hopes to receive funding in late June, 1998. Commodore expects this joint venture with Allegheny Teledyne to be a major participant in the neutralization of chemical weapons within both the multi-billion-dollar domestic and international markets.

The supported liquid membrane technology is the basis of the SLiM™ process, a chemical extraction process that has wide applications in many industries and for environmental cleanup. The SLiM™ process is being commercialized by Commodore Separation Technologies, Inc., (NASDAQ: CXOT) an 87% owned public subsidiary of Commodore Applied Technologies.

The first commercial application of the SLiM™ process is currently being installed at two sites at the Port of Baltimore, where it will process Chromium VI water leachates from two sites. The SLiM™ process removes the contaminating Chromium VI from the leachates, cleansing the water to drinking standards before it is deposited into Chesapeake Bay. The process removes the Chromium VI and concentrates it for sale or disposal.

The mission of Commodore Applied Technologies, Inc. is to develop and commercialize materials and processes that enable significant technological capabilities in a wide range of industries. Commodore Applied Technologies, Inc. is 42% owned by Commodore Environmental Services, Inc. (OTCBB: COES).

These materials contain forward-looking statements based on a series off projections and estimates regarding economics within our markets, the industries in which we operate, the effects of legislation and regulations, as well as business and competitive outlook.

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COMMODORE APPLIED TECHNOLOGIES ANNOUNCES CHANGES TO BOARD

NEW YORK, NEW YORK, April 9, 1998 – Commodore Applied Technologies, Inc. (ASE: CXI, CXIW) announced today that Kenneth L. Adelman had been named Vice Chairman of the Board of Directors. Dr. Adelman, formerly a U.S. ambassador to the United Nations and chief arms negotiator during the Reagan Administration, continues to serve as Executive Vice President, Marketing and International.

Commodore further announced that William R. Toller, retired Chairman and Chief Executive Officer of Witco Corporation, a Fortune 500 specialty chemicals company, had been elected to the Board or Directors, bringing the number of directors to nine. He also serves on the board of directors of Commodore Separation Technologies, Inc. (NASDAQ: CXOT, CXOTW, CXOTP).

Commodore also said that Dr. Jeane J. Kirkpatrick, the U.S. Permanent Representative to the United Nations in the Reagan Administration, joins former Senator Sam Nunn as a senior advisor to the Board. She had been serving as a director on the company’s Board. Additionally, Dr. Edwin L. Harper resigned from the Board due to obligations with another company.

The White House has announced that Ed L. Romero, a director of the company and chairman and chief executive officer of its wholly-owned subsidiary, Commodore Advanced Sciences, Inc., is being nominated to serve as the United States ambassador to Spain. Peter E. Harrod, who serves as president of Commodore Advanced Sciences, has now also been named president of Commodore Solution Technologies, Inc., a wholly-owned subsidiary of the company.

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Commodore Applied Technologies Reports Fourth Quarter, Year End Results

New York, New York, March 31, 1998 – Commodore Applied Technologies, Inc. (ASE:CXI, CXIW), today announced audited financial results for the fiscal year ended December 31, 1997. (See Table)

Condensed Statement of Operations (Audited)
Fiscal Year Ended December 31,

1997

1996

Revenues

$19,493,000

$5,123,000

Net Loss

(15,694,000)

(5,643,000)

Net Loss Per Share –

Basic and Diluted

(.73)

(.31)

Weighted Average Number of Shares Outstanding

21,844,000

18,100,000

In 1997, Commodore Applied’s environmental process technologies passed many milestones. Consider these achievements:

In the Chemical Weapons Demilitarization Market:

In February, Commodore’s success in destroying all hazardous components of Assembled Chemical Weapons was reported in The New York Times.

In October, the Teledyne-Commodore, LLC, a 50-50 joint venture with Allegheny Teledyne, was named a finalist in a $40 million program to find alternative technologies to incineration for the destruction of assembled chemical weapons.

That same month, the Teledyne-Commodore, LLC successfully used Commodore’s patented solvated electron technology (SET() to treat radioactively tagged explosives for the U.S. Army.

In the U.S. Department of Energy’s (DOE) nuclear waste treatment industry:

In April, a patent for separating nuclear wastes from other hazardous material and concentrating it for further treatment or efficient handling was issued to Commodore.

In October, Commodore’s SET™ process received a commercial contract to treat mixed waste – radioactive material with a hazardous component – at the DOE’s Weldon Spring, Mo. site. Two months later, in December, Commodore said that it was successfully treating mixed waste at Weldon Spring, Mo.Also in December, Commodore announced agreements with two other DOE contractors, ICF Kaiser and Lockheed Martin.

And finally, Commodore’s publicly-traded subsidiary, Commodore Separation Technologies, Inc. (NASDAQ: CXOT, CXOTW, CXOTP), was awarded a sole-source contract by the state of Maryland to remove the contaminant, hexavalent chromium, from effluent at the Port of Baltimore. Then, in February 1998, the state of Maryland added a second sole-source contract to Commodore’s project of helping clean Chesapeake Bay. Those SLiM( (supported liquid membrane) systems are to be installed this summer.

"In the space of one year, Commodore has successfully penetrated three major markets – each measured in billions of dollars. In each market, Commodore now has contracts for full commercial operations," said Paul E. Hannesson, Commodore’s chairman and CEO.

In Chemical Weapons Demilitarization, Commodore’s solvated electron technology (SET() already has proven, in government certified laboratories, that it can decontaminate and destroy all components of assembled chemical weapons, decontaminating the dunnage, such as shell casings and packing and destroying the chemical agent, explosives and propellants. This April, the $40 million Assembled Chemical Weapons Assessment program is scheduled to identify at least two technologies that are to be funded for demonstration beginning in July. Congress is scheduled to consider full-scale chemical weapons neutralization funding in 1999.

In the DOE’s nuclear waste cleanup market, Commodore will continue to pursue its strategy of introducing its SET( process to DOE sites through major DOE contractors.

In the past 15 months, Commodore has taken strong measures to strengthen its management team. Kenneth L. Adelman, a former U.S. Ambassador to the United Nations and the Reagan Administration’s top arms control officer, was named executive vice president. Additionally, Jeane J. Kirkpatrick, professor at Georgetown University and formerly U.S. ambassador to the United Nations, has joined the Commodore Board and former Senator Sam Nunn was named a special advisor to the Commodore Board.

Commodore Applied Technologies, Inc. is approximately 43% owned by Commodore Environmental Services, Inc. (OTC BB: COES).

These materials contain forward-looking statements based on a series of projections and estimates regarding economics within Commodore Applied Technologies, Inc.’s markets, the industries in which Commodore Applied Technologies, Inc. operate, the effects of legislation and regulations, as well as business and competitive outlook.

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COMMODORE APPLIED TECHNOLOGIES, INC.
RECEIVES $5.45 MM NEW FINANCING FROM PARENT COMPANY

New York, New York, February 23, 1998 -- Commodore Applied Technologies, Inc. (ASE: CXI, CXIW) announced today that it has obtained an unsecured $5,450,000 loan from its affiliate, Commodore Environmental Services, Inc. (OTC BB: COES). The company said that the intercompany, non-convertible 8% loan provides sufficient working capital to fund general corporate operations until early 1999. The loan is due at the earlier of a public or private financing netting $6,000,000 in proceeds or December 31, 1999.

In connection with the loan, Commodore Applied Technologies issued a warrant to Commodore Environmental Services to purchase 1,500,000 shares of common stock at $10 per share. Commodore Applied Technologies also lowered the exercise price under an existing warrant held by Commodore Environmental Services for 7,500,000 shares of common stock from $15 per share to $10 per share.

Following the transaction, Commodore Applied Technologies is 44%-owned by Commodore Environmental Services. Full details of the transaction are described in a Form 8-K that is being filed with the SEC by the company and will be available through the SEC’s Edgar system.These materials contain forward-looking statements based on a series of projections and estimates regarding economics within our markets, the industries in which we operate, the effects of legislation and regulations, as well as business and competitive outlook.

XXX

 

Former Senator Sam Nunn Will Serve as Special
Advisor to Commodore Board

New York, February 2, 1998-Commodore Applied Technologies, Inc. (ASE: CXI, CXIW) announced today that former United States Senator Sam Nunn has been appointed as Special Advisor to the company’s Board of Directors. As Special Advisor, he will be available to consult with the Board, with his experience especially targeted on the application of Commodore’s technologies to the destruction of chemical weapons."

We are most fortunate to have someone of Senator Nunn's experience and stature be such a central part of our company," said Paul E. Hannesson, Chairman and Chief Executive Officer. "Senator Nunn’s knowledge and accomplishments in the field of national security and international military affairs brings significant, new capabilities to our work with the defense industry. He has already been helpful to our efforts relating to the worldwide destruction of chemical weapons."

Elected to the U. S. Senate from Georgia in 1972, Senator Nunn served four terms and retired from the Senate in 1996. His distinguished Senate career included serving as Chairman of the Senate Armed Services Committee and the Senate’s Permanent Subcommittee on Investigations. He also served on the Senate’s Intelligence and Small Business Committees.

Today Senator Nunn is a distinguished professor in the Sam Nunn School of International Affairs at Georgia Tech and a senior partner in the Atlanta-based law firm of King & Spalding. He serves on the boards of directors of several public companies, including The Coca-Cola Company, The General Electric Company and Texaco, Inc. He is also active in a number of non-profit and public interest organizations, including the Carnegie Corporation and Center for Strategic and International Studies.

"Last summer I began working with Commodore and have been increasingly impressed with the company’s technology, management and mission," said Senator Nunn. "In particular, Commodore’s technology has great potential for destroying chemical weapons in a safe and environmentally-friendly process. This could be a valuable contribution to our health and safety, as well as our national security."

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