WASHINGTON, March 28, 2006 (PRIMEZONE) -- Future Fuels, Inc. (FFI), a subsidiary of Nuclear Solutions, Inc. (OTCBB:NSOL), announced today that Fred Frisco will be assisting the company with Worldwide Investor Relations. He will act as a liaison between FFI and potential investors, respond to investor questions and cultivate investor relations. "We welcome an entrepreneur of Fred's caliber in helping FFI address investor inquiries and generate positive awareness and interest in the company. His experience in helping to establish global businesses will have tremendous, strategic value for FFI at this stage," states FFI President Jack Young.
Fred Frisco is one of the founding members of publicly-traded Immucor (NASDAQ - BLUD; http://www.immucor.com). Since the company's establishment in 1982, he managed sales and marketing, and assisted in the north east investor market reporting directly to its President and CEO. His contributions significantly impacted Immucor's stock value. The company reported record revenues in 2005, with 500 employees worldwide. "I look forward to this wonderful opportunity to put my experience and expertise to work for FFI upon my upcoming retirement from Immucor. The insights I gained at Immucor over the course of 24 years will allow me to suggest and develop similar strategies for FFI's consideration. Immucor evolved into one of the leading companies on the Nasdaq stock exchange for adding shareholder value, particularly during the last five years. I envision the same happening for FFI, but in a much shorter time period," says Mr. Frisco.
FFI plans 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, biomass, municipal solid waste, discarded corn stalks and other agricultural by-products, into high-value, environmentally-friendly, clean-burning ethanol. FFI is planning a 52 million gallon waste-to-ethanol production facility in Toms River, New Jersey, for which it has already secured land, environmental permits, feedstock sources suitable for conversion into ethanol, a ten year ethanol purchase contract, and preliminary approval for an $84 million bond authorization from the state of New Jersey.
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 we plan to use in FFI's facility to transform feedstock materials into ethanol. We believe FFI's Toms River facility will become the process model for launching additional facilities at other potential sites domestically and internationally. Currently, FFI reports on a consolidated basis within Nuclear Solutions, Inc.'s public filings. For further information, visit http://www.nuclearsolutions.com or contact Fred Frisco, FFI Investor Relations, at 202-580-8330.
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 benefit," "will serve," "will act," welcome," "look forward," "envision," "will be used," "will become," 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 under all circumstances 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 http://www.nuclearsolutions.com.