IRVINE, Calif., Nov. 8, 2006 (PRIMEZONE) -- HiEnergy Technologies, Inc. (OTCBB:HIET), the homeland security industry leader in neutron-based diagnostic technology, announced today that it has entered into a distributorship agreement with Bartlett Nuclear Inc., which grants Bartlett Nuclear rights to purchase, inventory, and promote HiEnergy's Atometer(tm) detectors and related software and services for resale to commercial nuclear power plants throughout North America on an exclusive basis.
Bartlett Nuclear Inc., founded in 1979, is renowned for its success and experience in responding to the radiation safety needs of nuclear power generation and government facilities nationwide. It maintains the largest specialized nuclear workforce in the United States with over 4000 employees providing radiation monitoring and decontamination services at over 150 locations nationwide.
"We are pleased that Bartlett Nuclear has agreed to work with HiEnergy in marketing our ground-breaking Atometer(tm) explosives detection devices within the nuclear industry in which they have long-standing relationships," stated Sean Moore, HiEnergy's Vice President of Sales & Marketing. "Working with Bartlett Nuclear and the largest specialized nuclear workforce in the United States, HiEnergy expects to have greater access to this important market segment as well as respond more effectively to the unique security needs of the nuclear industry."
"Bartlett's leadership position is firmly established with more than 26 years of providing superior safety, security and support services to commercial and government entities in the nuclear marketplace," added Myron Kaczmarsky, Bartlett Nuclear's Senior Vice President of Marketing, Sales and Business Development. "We look forward to working with HiEnergy in delivering their novel technologies for the protection of our nation's critical nuclear power infrastructure."
The agreement was made in line with HiEnergy's multi-channel sales strategy which is to engage outside sales and marketing alliances, including outside sales representatives, industry partners, and potential system integrators, to more efficiently access its target markets and leverage its sales efforts. HiEnergy intends to work closely with Bartlett Nuclear in marketing its explosive detection systems with a focus on perimeter security and the screening of potential threats to the nation's nuclear power infrastructure. Pursuant to the agreement, the exclusive rights shall have a term of one year, which term may be extended upon mutual agreement.
Nuclear power plants and other nuclear facilities have long been recognized as potential targets of terrorist attacks. The protection of these nuclear sites from land-based assaults and other terrorist acts has been a heightened national priority since the attacks of September 11, 2001. Operating nuclear reactors contain large amounts of radioactive fission products which, if dispersed, could pose a direct radiation hazard, contaminate soil and vegetation, and cause both short-term illness and death, and longer-term deaths by cancer and other diseases. Under current regulations all commercial nuclear power plants licensed by U.S. Nuclear Regulatory Agency must be protected by a series of physical barriers and a trained security force.
ABOUT BARTLETT NUCLEAR, INC. (www.bartlettinc.com)
Headquartered in Plymouth, Massachusetts, Bartlett maintains offices in Connecticut, North Carolina, Virginia, Pennsylvania, Tennessee, Idaho, Oklahoma, Colorado, Nevada, Washington and Florida which further provide regional assistance in ensuring complete customer satisfaction.
Bartlett is known for providing the critical value-added services and innovative technologies needed to optimize health and safety throughout the lifecycle of nuclear facilities. With over 26 years experience and the largest dedicated nuclear workforce in the U.S., Bartlett has emerged as an industry leader in both the commercial and government sectors. Today they hold the unique position as:
-- The only company that has provided radiation protection services
to all of our nation's commercial nuclear power facilities.
-- The No. 1 supplier of nuclear-related technical and professional
services to the U.S. Department of Energy.
-- The only company that has developed, implemented and supported
radiation protection programs in every regulatory jurisdiction and
every type of nuclear facility in the U.S.
ABOUT HIENERGY TECHNOLOGIES, INC. (www.hienergyinc.com)
HiEnergy Technologies, Inc. is the creator of the world's first "stoichiometric" diagnostic devices that can effectively decipher chemical composition of unknown substances through metal or other barriers, almost instantly and without human intervention. HiEnergy's Atometer(tm) devices incorporate a proprietary interrogation process which activates a selected target with neutrons causing the contents to emit back gamma rays that contain unique signatures from which the chemical formulas are derived. The Company is marketing its devices to governmental and private entities and is negotiating licenses for distribution of its devices with various industry partners. The Company also continues to focus on the research and development of additional applications of its technologies and their further exploitation, both internally and through collaboration with third parties.
FORWARD-LOOKING STATEMENTS
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. While the above agreements evidence the willingness and desire of the respective parties to work collaboratively on the sale and marketing of the company's products, and implementation generally, readers are cautioned there can be no assurance that the agreements will result in any business, revenues or other tangible benefits at any time. The company disclaims any obligation to update information contained in any forward-looking statement.