MOSCOW, May 24, 2006 (PRIMEZONE) -- NUCON-RF, Inc. (Pink Sheets:NNRF) has entered into an agreement to co-lead an international consortium of European and Russian companies that will provide equipment, technologies and maintenance services to Rosenergoatom and their listed Russian contractors.
Rosenergoatom is the operating utility of all Russia's nuclear power plants.
Rosenergoatom is responsible for ensuring nuclear and radiation safety in all phases of nuclear power plant operations in compliance with Russian Federation legislation and to provide scientific and technical support to these facilities. Rosenergoatom operates all 10 state-owned Russian nuclear power plants with 31 reactor units representing a total 23,242-MW installed electrical capacity. This is 18% of the Russian power grid.
Increasing demands on technical safety regulations and significantly heightened radiation protection standards at Russia's nuclear energy facilities have resulted in escalating demands for new equipment and improved technologies required for both the construction of new power plants and the modernization and operation of existing facilities.
For an overview of Rosenergoatom's responsibilities follow this link, http://www.rosatom.ru.
NUCON believes this agreement enables NUCON to place a significant number of its owned and licensed materials and technologies in Rosatom facilities.
NUCON will receive a monthly retainer and a percentage of sales from each member company of the consortium. The Company believes there will be five, or more, companies of this consortium by the end of the second quarter, 2006, and an additional five, or more, in the third quarter of 2006.
NUCON-RF has the capability to provide product, technological and engineering support addressing a myriad of environmental, waste water, power quality and radioactive waste challenges including: compliance, shielding, transport and storage requirements, plant equipment protection, energy efficiency and development of techniques for a broad range of radioactive and toxic wastes. NUCON-RF also has extensive in-house expertise in all aspects of radiological protection and radiological waste management.
Safe Harbor Statement
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding announcements of financial results, business potentiality and other prospective presentations by NUCON-RF, Inc. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products in domestic and international markets will continue to expand. NUCON-RF undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in NUCON-RF's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.