WASHINGTON, June 21, 2004 (PRIMEZONE) -- Nuclear Solutions, Inc. (OTCBB:NSOL) today said it filed a U.S. patent application on June 16 for its Tritiated Water Remediation (TWR) technology.
"We consider this a significant event in our efforts to develop and commercialize TWR technology," said Nuclear Solutions CEO Patrick Herda. "We currently own 100 percent of this new concept, and our plan is to seek industrial partners to integrate TWR into systems capable of addressing market requirements."
Tritium, a radioactive isotope, has a half-life of only 12.3 years, but its presence in waste water poses a significant health risk because it is absorbed into environmental systems like ordinary water. Large quantities of tritium are produced as a byproduct of nuclear power plant operations and nuclear weapons complex activities. Public and government data indicate that the United States is now storing billions of gallons of tritium-contaminated waste water.
Nuclear Solutions also said its TWR technology can be utilized to produce heavy water, which consists of deuterium oxide that can be used in certain commercial nuclear power plant operations as well as in scientific research applications.
The company's process for separating tritium from waste water was conceived by Boris Muchnik, who is a primary technical consultant to Nuclear Solutions. Muchnik's prior record of technology development "will facilitate growth, profitability, and return on investment," Herda added.
"We are working expeditiously to raise additional funding as well as to perform further development work, which is necessary for the technology to be deployed commercially," the Nuclear Solutions CEO said.
The need for tritium remediation was made clear with a recent proposal by the U.S. Department of Energy to release tritium-contaminated water into the ground at its Hanford, Wash., reservation. The Washington Department of Ecology acknowledged it would accept discharges because, "Presently, there are no reasonable treatment technologies to remove tritium from this effluent ... Ecology will continue to encourage U.S. DOE to develop tritium removal technology."
About Nuclear Solutions, Inc.:
Nuclear Solutions, Inc. (OTCBB:NSOL) is dedicated to developing proprietary product technologies responding to the needs and opportunities of the 21st Century in the areas of Homeland Security, Nanotechnology, and Environmental technology. The company's business model centers on developing product technologies that can be licensed to industry or government for further commercialization.
Environmental Technology: Development of tritiated water remediation technology (Please see above).
Homeland Security and Defense: Development of new technologies and services to detect shielded nuclear materials and nuclear devices.
Nanotechnology: Development of long-lived nuclear micro-power sources, based on three U.S. Patents, to power applications related to Homeland Security and the emerging field of Nanotechnology, Micro-Electro-Mechanical Systems.
Disclaimer: The matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results for the Company could differ significantly from those statements. Factors that could adversely affect actual results and performance include, among others, the Company's limited operating history, dependence on key management, financing requirements, technical difficulties commercializing any projects, government regulation, technological change, and competition. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the Company's periodic filings with the U.S. Securities and Exchange Commission.
More information about Nuclear Solutions, Inc. may be found on its website, www.nuclearsolutions.com.