WASHINGTON, Feb. 1, 2006 (PRIMEZONE) -- Future Fuels, Inc. (FFI), a subsidiary of Nuclear Solutions, Inc. (OTCBB:NSOL), welcomes President George W. Bush's visionary statements on pursuing "cutting-edge methods of producing ethanol" to help reduce U.S. dependency on foreign oil. In his January 31, 2006 State of the Union address, President Bush stated:
"Keeping America competitive requires affordable energy. Here we have a serious problem: America is addicted to oil, which is often imported from unstable parts of the world... The best way to break this addiction is through technology... So tonight, I announce the Advanced Energy Initiative -- a 22-percent increase in clean-energy research at the Department of Energy, to push for breakthroughs in two vital areas... fund additional research in cutting-edge methods of producing ethanol, not just from corn but from wood chips, stalks, or switch grass. Our goal is to make this new kind of ethanol practical and competitive within six years."
As a result of its recent activities , FFI stands ready to assume a leadership role in these efforts. FFI employs a unique business model to implement commercially available and proven technology to transform low-value, end-of-life carbonaceous waste materials such as waste coal, used tires, wood wastes, raw sewage, discarded corn stalks and other agricultural by-products, into high-value, environmentally friendly, clean-burning ethanol. To date, FFI has successfully secured land, environmental permits, a waste source suitable for conversion into ethanol, and preliminary approval for an $84 million bond authorization from the state of New Jersey for the first-of-its-kind 52 million gallon waste-to-ethanol production facility in Toms River, New Jersey. In addition, FFI recently retained a regulatory compliance consulting company to gear up for the facility's operations. FFI's Toms River facility will become the basis for launching additional waste-to-ethanol conversion facilities at other potential sites across the country.
For more information on FFI, call 202-536-4653 or read about the company's progress to date in a series of press releases posted in the "News Center" on Nuclear Solutions, Inc.'s Web site at 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, objectives, expectations, and intentions. You can identify these forward-looking statements by our use of words such as "visionary," "pursuing," "to implement," "to transform," "becomes," "preliminary approval," "gear up," "will become the basis," "progress to date," "remains committed," 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.
With regards to forward-looking statements on the proposed waste-to-ethanol facility, a facility like this has never before been constructed or operated and there are inherent risks associated with the establishment of such new operations. There could be unexpected problems or delays in the funding, construction and operation of the facility. There is no guarantee that we will be successful in raising the capital required for this project through the issuance of tax-free bonds discussed herein. While we believe that the appropriate technologies for waste-to-ethanol conversion are commercially available, we cannot guarantee that commercially available technologies will we suitable for producing ethanol in the proposed Future Fuels, Inc. facility.
Overall, actual future results for Nuclear Solutions, Inc., and its subsidiary Future Fuels, Inc., could differ significantly from statements contained in the press release. Factors that could adversely affect actual results and performance include, among others, the companies' 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 or licensing does not guarantee that a patent will issue or that the technology will be commercially successful. Accordingly, reference should be made to Nuclear Solutions, Inc.'s periodic filings with the U.S. Securities and Exchange Commission, also available through the Web site at www.nuclearsolutions.com.