WASHINGTON, D.C., Aug. 23, 2005 (PRIMEZONE) -- Nuclear Solutions, Inc. (OTCBB:NSOL) announced today that it is in the process of forming Future Fuels, Inc., a wholly owned subsidiary intended to pursue business in the renewable fuels sector. Future Fuels, Inc.'s mission stands apart from that of Nuclear Solutions, Inc. because the new subsidiary plans to focus primarily on developing renewable fuels technology together with constructing and operating facilities to convert waste -- trash, raw sewage, discarded corn stalks and other agricultural byproducts, etc. -- into renewable fuels such as clean-burning ethanol.
"Nuclear Solutions has identified attractive opportunities to enter the market and produce value within the realm of renewable fuels. The passage of the recent energy bill mandating the increased use of and subsequent demand for renewable fuels is stimulating the tremendous potential of this market.
"In recognizing that potential, Nuclear Solutions also realizes that the business model required to successfully operate in the renewable fuels field is significantly different from the model we use in the fields of technology development in which we currently engage.
"The business dynamics of nuclear technology and renewable fuels are clearly and vastly different. Because of our understanding of these key differences, forming a wholly owned subsidiary, with its own focused and dedicated management and personnel teams experienced in the industry, is the most strategic and effective way to proceed. This approach ensures that resources are not diverted from Nuclear Solutions, and the subsidiary receives the expert attention it needs to fully develop and grow," explains President and CEO of Nuclear Solutions, Inc., Patrick Herda, on the creation of Future Fuels, Inc.
Future Fuels, Inc. is being formed to operate as an independent subsidiary with a separate board of directors, management team and operations personnel. Nuclear Solutions, Inc. will retain an oversight role and report Future Fuels, Inc.'s operations and financial results on a consolidated basis within its public filings.
Nuclear Solutions, Inc. is an innovative technology development company committed to exploring, developing and commercializing viable product technologies in the areas of nanotechnology, environmental technology, as well as homeland security and defense. Visit www.nuclearsolutions.com for more information about the company.
Disclaimer: The matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties such as our plans, objectives, expectations and intentions. You can identify these statements by our use of words such as "may," "when," "expect," "believe," "anticipate," "intend," "intended," "pursue," "could," "estimate," "continue," "plans," "planning," "potentially," "would," 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. Additional funding is required to develop the technology or businesses described herein. Management intends to secure funding for the events described herein through the use of debt or equity. 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. Additionally, patent pending status does not guarantee that a patent will issue or that the technology will be commercially successful. Accordingly, reference should be made to the company's periodic filings with the U.S. Securities and Exchange Commission.