WASHINGTON, D.C., Jan. 31, 2005 (PRIMEZONE) -- Nuclear Solutions, Inc. (OTCBB:NSOL) filed two additional patent applications in January for its new nuclear detection technology intended to detect shielded nuclear weapons. The new pending patents encompass enhancements to the core technology, which, potentially, will improve its sensitivity and increase its range of detection.
"The threat of a terrorist nuclear weapon being used against us or our allies in the free world is very real and very serious. We are developing a non-radiation based technique of detecting nuclear weapons since conventional radiation based detection methods are fatally flawed when considering scenarios involving Uranium or Plutonium based nuclear weapons," said Patrick Herda, Nuclear Solutions CEO.
"It is quite easy to shield the radiation emitted by Uranium-235 and Plutonium-239, making signature acquisition virtually impossible by conventional detectors. Furthermore, employing highly sensitive radiation detectors can easily result in an unacceptably high rate of false alarms, which can negatively impact international commerce.
"The development of Nuclear Solution's new sensing concept could result in a highly sensitive, portable, and low-cost detection system that responds to minute gravitational gradient anomalies produced by high-density nuclear materials like plutonium and uranium and would be unaffected by radiation shielding techniques," Herda explained.
On Jan. 27 in an interview with the Associated Press, U.S. Attorney General John Ashcroft said that the greatest threat to U.S. national security is the possibility of terrorists gaining access to nuclear materials: "If you were to have nuclear proliferation find its way into the hands of terrorists, the entire world might be very seriously disrupted by a few individuals who sought to impose their will, their arcane philosophy, on the rest of mankind," he said.
"What the world urgently needs is a reliable and economical method to prevent a terrorist nuclear weapon, or its critical components from moving through borders here and in Europe," continued Herda. "With that in mind, we have formed a strategic alliance with a European company comprised of former high-level European Union government officials and executives in the banking, energy, and technology industries to assist us in developing business opportunities in Europe.
"Furthermore, we have arranged for Nuclear Solutions' European operations to originate from a new office in Rome, Italy. We will release details about our new European partner and office in the coming weeks.
"Additionally, we have evaluated proposals for additional funding over the last couple of months. To date, the most attractive proposal is potentially non-dilutive and based upon the investor receiving a small percentage of the potential future revenues generated by the sale or licensure of our nuclear weapon detection technology. There are additional considerations however, and negotiations are ongoing. We will promptly report the results if we enter into a transaction," concluded Herda.
About Nuclear Solutions, Inc.:
Nuclear Solutions, based in Washington, D.C., is an emerging innovative technology development company. We are committed to exploring, developing, and commercializing viable product technologies that will enable partner companies to offer new and improved products in the following areas:
Nuclear Weapon Detection for Homeland Security & Defense
The development of advanced technology to detect shielded nuclear materials and terrorist nuclear weapons
Nanotechnology/MEMS applications
The development of long-lived nuclear micro-power sources, based on three U.S. Patents (5,087,533; 6,118,204; 6,238,812), to power applications in the emerging field of Nanotechnology, Micro-Electro-Mechanical Systems, and the new generation of low power microelectronics.
Environmental Technology
Development of a patent pending process to remediate tritiated water via an advanced separation technique.
More information about Nuclear Solutions, Inc. may be found on its website, 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, objective, expectations and intentions. You can identify these statements by our use of words such as "may," "when," "expect," "believe," "anticipate," "intend," "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 described herein. 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.