Nuclear Solutions, Inc. Names Leading Ethanol Industry Expert Douglas A. Durante as Ethanol Development Advisor
Wednesday July 5, 7:00 am ET
Company to Forge Ahead With Multiple Ethanol Production Projects
WASHINGTON, DC--(MARKET WIRE)--Jul 5, 2006 -- Nuclear Solutions, Inc. (OTC BB:NSOL.OB - News) announces the expansion of its relationship with leading ethanol industry expert Douglas A. Durante to further its goal of simultaneously developing multiple ethanol production projects.
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For NSOL and its subsidiary Fuel Frontiers, Inc. (FFI), Mr. Durante will serve as Ethanol Development Advisor and will devote the majority of his time and network of contacts toward expanding opportunities in ethanol production and technology innovation. In addition to his current work at the policy level with the Clean Fuels Development Coalition, Mr. Durante will assist NSOL in identifying and developing additional locations suitable for FFI's ethanol synthesis facilities, advising on market penetration and business development strategies, and introducing NSOL, FFI and other possible subsidiaries to key leaders and potential partners in the ethanol industry.
"We are extremely pleased to expand our working relationship with Doug Durante and consider ourselves privileged that he has chosen to devote a significant portion of his resources to helping us execute our vision of producing ethanol at multiple production facilities nationwide. We wish to emphasize that our vision embraces the goal of multiple ethanol production facilities nationwide, all pursued simultaneously and in parallel. Consequently, our success in this endeavor does not hinge on one facility alone. Doug's knowledge of the industry and his ability to recognize optimal opportunities and turn them into reality are top-flight. We are confident that his insights will prove valuable as we proceed with finalizing financing and construction timetables for planned ethanol production facilities. We believe that his expertise will help accelerate our plans to become a major player among ethanol producers," states NSOL President and CEO Patrick Herda.
Doug Durante has more than 25 years of experience working with the U.S. Congress and federal agencies such as the Departments of Energy and Agriculture as well as the U.S. Environmental Protection Agency in the fields of energy, transportation, the environment, and public works projects related to alternative fuels, coal slurry pipelines, international trade, agriculture, and tax policy. He is President of Durante Associates, Inc., specializing in government affairs and business development in the energy sector and similar areas, and the founder and Executive Director of the Clean Fuels Development Coalition. He is a member of the Governors' Ethanol Coalition Biomass Advisory Committee and has contributed to dozens of ethanol studies in the U.S. and abroad.
Nuclear Solutions, Inc. is an innovative technology development company committed to exploring, developing, and commercializing viable products in the areas of nanotechnology, environmental technology, homeland security and defense, and, most recently, alternative fuels. In August 2005, Nuclear Solutions, Inc. established FFI, a subsidiary implementing its own unique business model to utilize commercially available and proprietary technologies to transform low-value, end-of-life carbonaceous waste materials such as waste coal, used tires, wood wastes, biomass, discarded corn stalks and other agricultural by-products, into high-value, environmentally friendly, clean-burning ethanol. With its global Strategic Alliance Agreement with Connecticut-based Startech Environmental Corporation, FFI gains access to Startech's innovative, proven and proprietary Plasma Converter(TM) System, which is proposed for use in planned facilities to transform feedstock materials into ethanol. Currently, FFI reports its operations and financial results on a consolidated basis within Nuclear Solutions, Inc.'s public filings. Visit www.nuclearsolutions.com for additional information.
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 "to forge," "in order to," "developing," "identifying and developing," "will devote," "suitable," "toward," "potential," "vision," "consequently," "will prove," "planned," "we believe," "will help," "are confident," "plans," "to become," "proposed," "is proposed for use," "planned," "will assist," "will serve," "will prove," 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 be suitable under all circumstances for producing ethanol in the proposed Fuel Frontiers, Inc. facility. Funds to purchase the subject land discussed in this press release have yet to be secured. The Company intends to secure such funding for the purchase primarily through debt and/or equity financing.
Overall, actual future results for Nuclear Solutions, Inc., and its subsidiary Fuel Frontiers, 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.
Contact:
Contact:
FFI Investor Relations
202-580-8330
