WASHINGTON, Oct. 6, 2004 (PRIMEZONE) -- Nuclear Solutions, Inc. (OTCBB:NSOL) released a statement concerning ongoing business development activities in the weapons detection area.
In order to enhance the company's developing presence and market potential in the area of weapons detection products, the company is planning to complement its activities in the early-stage development of nuclear weapons detection technology with the addition of fully developed products for remote detection and disruption of concealed conventional explosive devices, both mobile and fixed.
"The detection and disruption systems that we plan to incorporate into our technology portfolio for the homeland security market were developed to remotely detect and disrupt or detonate terrorist explosive devices, such as IEDs (Improvised Explosive Devices) and roadside bombs, within safe and manageable distances for both civilian and military personnel," said Patrick Herda, company CEO.
These advanced products, Herda explained, could become a significant part of Nuclear Solutions' technology portfolio in 2005. "However, we will need to raise additional money to bring them to the homeland security market here and abroad," he said. "The exact requirements will be determined after negotiations with the detection system licensors and suppliers are completed."
The company will provide details on these potential products and their funding requirements over the next few months.
Additionally, further updates concerning the development of the company's shielded nuclear weapon detection technology are expected within the next week.
About Nuclear Solutions, Inc.:
Nuclear Solutions, based in Washington, D.C., is an emerging innovative technology development company. We are committed to exploring, developing, and commercializing viable product technologies that will enable partner companies to offer new and improved products in the following areas:
Nuclear Weapon Detection for Homeland Security & Defense
The development of advanced technologies and methods to detect shielded nuclear materials and smuggled nuclear weapons.
Nanotechnology/MEMS applications
The development of long-lived nuclear micro-power sources, based on three U.S. Patents (5,087,533; 6,118,204; 6,238,812), to power applications in the emerging field of Nanotechnology, Micro-Electro-Mechanical Systems, and the new generation of low power microelectronics.
Environmental Technology
Development of a patent pending process to remediate tritiated water via an advanced separation technique.
More information about Nuclear Solutions, Inc. may be found on its website, www.nuclearsolutions.com.
Disclaimer: The matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties such as our plans, objective, expectations and intentions. You can identify these statements by our use of words such as "may," "expect," "believe," "anticipate," "intend," "could," "estimate," "continue," "plans," "planning," "could," or other similar words or phrases. Some of these statements include discussions regarding our future business strategy and our ability to generate revenue, income, and cash flow. 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 on Homeland Security issues, including news releases, events and experts available for comment, can be found on the Homeland Security Newsline at www.primezone.com/hs