|Execution Platform Provides Scale to Service World’s Largest Waste Projects|
IRVINE, Calif. & RICHLAND, Wash. - Thursday, January 30th 2014 [ME NewsWire]
(BUSINESS WIRE)-- Kurion, Inc., an innovator in nuclear and hazardous waste management, announced it has reached a definitive agreement to acquire Vista Engineering Technologies, a full-service engineering, design and technology firm based in Richland, Wash. The transaction triples Kurion in size by number of employees, and the combined company has facilities in Richland, Wash., Oak Ridge, Tenn., Houston, Texas, Loveland, Colo., and Irvine, Calif. Kurion is backed by venture capital investors Lux Capital, Firelake Capital Management and Acadia Woods Partners.
"Kurion is building tremendous momentum around the world through projects in the U.S., Japan and Europe,” said Bill Gallo, Kurion CEO. "The combined talents, capabilities and technologies of the Kurion and Vista Engineering teams provide the execution platform and the scale to address our clients’ most pressing nuclear and hazardous waste problems.”
Through this transaction, Kurion acquires Vista Engineering’s entire technology, patent and trade secret portfolio. It will also retain Vista Engineering’s entire staff to accelerate the company’s growth.
Phil Ohl, president and CEO of Vista Engineering Technologies, added, "We have worked closely with the Kurion team for more than a year on global nuclear waste projects and have high respect for their expertise and technologies. Joining Kurion presents an opportunity for us to address nuclear and hazardous waste challenges around the world.”
Founded in 2000, Vista Engineering specializes in three areas: remote systems and services, engineering and design services, and environmental services. The company has supported the U.S. Department of Defense and the Department of Energy for 13 years on a number of efforts, including projects at the Hanford nuclear waste site, the Idaho National Laboratory, and the Umatilla chemical weapons depot. The company has also supported cleanup at international waste sites, including sites in Japan and the UK, and it has provided engineering design and analysis services to advanced commercial nuclear reactor projects.
Phil Ohl Named to Kurion Leadership Team
As part of the acquisition, Phil Ohl, president and CEO of Vista Engineering, will become chief operating officer of Kurion. David Brockman will oversee the combined company's domestic business as senior vice president. John Raymont, Kurion founder and president of international operations, continues his responsibility for all international markets.
Ohl brings more than 20 years of engineering and design experience for nuclear and hazardous waste sites. He currently serves on the engineering advisory board for the Department of Materials and Mechanical Engineering at Washington State University. He is also past president and a member of the board of the Washington State STEM Education Foundation. Ohl is a registered professional mechanical engineer in the states of Washington and Oregon.
Acquisition Accelerates Kurion’s Growth
Kurion first made a name for itself at the damaged Fukushima Daiichi Nuclear Power Plant in 2011 when it was part of an unprecedented effort by an international team of leading nuclear waste management companies to quickly deliver the first-ever external reactor cooling system. Kurion continues to work closely with the Tokyo Electric Power Company to develop and implement innovative solutions for contaminated water at Fukushima and to support other cleanup elements at the site. Additionally, the company is developing projects for the U.S. Department of Energy and for European nuclear waste sites. Earlier this month Kurion announced its partnership with the UK’s National Nuclear Laboratory to install a GeoMelt vitrification plant at the Sellafield waste site.
Kurion provides innovative, easily deployable technologies to accelerate project performance and compliance and substantially reduce customer radioactive waste management life-cycle costs. Founded in 2008, Kurion is backed by leading energy investors Lux Capital, Firelake Capital Management and Acadia Woods Partners. Headquartered in Irvine, Calif., Kurion operates a technology development center at its radioactive materials licensed facility in Oak Ridge, Tenn., a detritiation testing facility in Houston, Texas, and two facilities in Richland, Wash., for non-radioactive demonstration testing, engineering and storage of mobile systems. For more information, please visit www.kurion.com.
ABOUT VISTA ENGINEERING TECHNOLOGIES
Vista Engineering Technologies, Inc., is a full-service engineering design and technology development firm based in Richland, Wash., and an office in Loveland, Colo. Founded in 2000, Vista Engineering specializes in three areas: remote systems and services, engineering and design services, and environmental services. More information is available atwww.vistaengr.com.
Phone: +1 (650) 801-7958
Fax: +1 (650) 508-8336