Lockheed Martin to aid waste-cleanup project


September 27, 1996

A team led by a unit of the Bethesda-based defense giant Lockheed Martin has won a $4 billion contract to clean up nuclear waste at a government storage site in Hanford, Wash.

The Department of Energy awarded the two-step contract to a team consisting of Lockheed Martin and nine other companies from around the country. At the heart of the project will be a Tennessee-based joint venture between Lockheed Martin and Molten Metal Technology.

The joint venture, called M4 Environmental L.P., will provide new technology to process 56 million gallons of radioactive waste that has been collected in 177 tanks since 1944.

Hanford is one of four sites around the country where the Department of Energy stores such waste.

M4's technology involves using molten metals to reduce the hazardous waste to its basic elements. Then it will apply a new process called Quantum-CEP that destroys the hazardous ingredients.

The resulting components can be recombined to form industrial materials.

Lockheed Martin's stock closed at $89.75 yesterday, down $1.125.

Pub Date: 9/27/96

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