Perma‑Fix Environmental Services (NASDAQ: PESI) and Enforcer One, LLC, a U.S. manufacturer of fluorine‑free firefighting foams and compressed‑air foam systems, entered into a joint distribution agreement on December 4 2025. Under the deal, Perma‑Fix will promote Enforcer One’s FIREBULL® fluorine‑free foams and Enforcer CAFS equipment to customers retiring legacy per‑ and polyfluoroalkyl substance (PFAS)‑based aqueous film‑forming foams (AFFF). In return, Enforcer One will market Perma‑Fix’s proprietary Perma‑FAS™ technology, a closed‑system, non‑incineration PFAS‑destruction process, to the same customer base.
The partnership creates a cradle‑to‑grave solution that covers assessment, removal, destruction, and replacement of PFAS‑contaminated foam inventories. By bundling a proven destruction technology with a fluorine‑free foam portfolio, the two companies aim to capture a larger share of the growing PFAS remediation market, which is projected to reach $1.6 billion by 2029. The deal also positions Perma‑Fix as a one‑stop provider for fire‑service and industrial customers seeking to comply with tightening environmental regulations and avoid legacy‑foam liabilities.
Perma‑Fix’s recent financial performance underscores the strategic value of the partnership. In Q3 2025, the company reported revenue of $17.45 million, up 45 % YoY, and a net loss of $1.84 million, a dramatic improvement from the $20 million net loss in 2024. The revenue growth was driven by strong demand in the Treatment Segment, where the backlog for PFAS‑destruction services expanded to $30 million, and by increased sales of its first‑generation Perma‑FAS system, which is fully booked through the end of 2025. The company’s operating margin improved to 12 % from 8 % in the prior year, largely due to higher mix of high‑margin service contracts and disciplined cost control.
Operationally, Perma‑Fix’s first‑generation Perma‑FAS reactor in Florida is operating at full capacity and has achieved destruction efficiencies above 99.9 % for a range of PFAS compounds. The company is commissioning a second‑generation unit that will triple throughput and is expected to be operational in Q1 2026. The partnership with Enforcer One is expected to accelerate the deployment of these units by providing a ready customer base for the destruction service and a complementary product line for foam replacement.
Management highlighted the partnership as a key growth lever. CEO Mark Duff said the collaboration “aligns perfectly with our mission to provide sustainable, practical solutions for PFAS contamination while helping fire services and industrial operators meet tightening regulatory and ESG expectations.” Enforcer One’s president Ron Thames noted that pairing FIREBULL® foams with Perma‑FAS technology “breaks down PFAS rather than shifting liability to landfills or incinerators.” The market has responded positively to the announcement, with analysts noting the deal’s potential to unlock new revenue streams and strengthen Perma‑Fix’s competitive position in a market that is expected to grow at a CAGR of 12.6 % over the next decade.
The partnership also dovetails with broader regulatory momentum. The U.S. EPA’s PFAS Strategic Roadmap and European Union directives are driving demand for fluorine‑free alternatives and effective remediation solutions. By offering a bundled solution, Perma‑Fix and Enforcer One can capture customers who need both a compliant foam replacement and a proven destruction pathway, positioning the companies to benefit from the projected $2.02 billion global PFAS remediation market by 2031. The deal is therefore a material step toward expanding Perma‑Fix’s market share and improving its financial trajectory in a high‑growth, high‑regulatory‑pressure industry.
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