MOSCOW, Aug. 20, 2007 (PRIME NEWSWIRE) -- NNRF, Inc. (Pink Sheets:NNRF), formerly known as NUCON-RF, today announced that it has entered into an alliance with STUDSVIK, a Western European based supplier of services to the international nuclear industry. STUDSVIK has almost 50 years of experience in nuclear technology and service in a radiological environment. STUDSVIK has 1,200 employees in 7 countries.
STUDSVIK operates in the global nuclear market and provides qualified services through four strategic business divisions: Operating Efficiency and Safety, Service and Maintenance, Waste Treatment and Decommissioning.
The alliance with STUDSVIK will initially focus on the marketing and manufacture of NNRF's proprietary shielding materials: FEECOM/BIECOM. The alliance will also focus on the newest derivatives that are being developed for ad hoc shielding applications specified by nuclear power plant managers, hospitals and medical facilities.
STUDSVIK engages in the testing and investigation of nuclear fuel and materials in nuclear reactors across the globe, and its codes and services are currently used at more than 200 of the world's 443 nuclear reactors. In the United States, STUDSVIK's codes are used at approximately 80% of the nuclear reactors. The corresponding share in Europe, not including France, is approximately 50%, and approximately 50% in Japan.
Dr. Hans-Jurgen Engelmann, Director of Shielding & Encapsulation Technologies for NNRF, stated:
"This alliance with STUDSVIK will accelerate the marketing of our shielding materials both in the EU and in international nuclear markets. In addition, the alliance will insure that the manufacturing capacities to satisfy current demands are in place." Dr. Engelmann stated further, "Operations in classified environments require radiation levels to be measured and analyzed, and occupational doses to the personnel concerned must be minimized. STUDSVIK carries out this type of health physics services. We are confident this will continue to open international markets to the core group of proprietary shielding, decommissioning and disposal technologies of NNRF. We believe further that the exceptional capabilities of STUDSVIK in areas of decommissioning nuclear waste management will complement and augment the current capabilities of NNRF to participate in international projects."
ABOUT NNRF:
NNRF is a U.S. corporation with executive and operations offices in Moscow, Berlin and Washington. NNRF offers design and manufacturing of specialized products for nuclear reactors and nuclear waste management; proprietary nuclear shielding, decommissioning and decontamination technologies; and engineering/design services for a range of environmental challenges. NNRF owns manufacturing facilities and provides both equipment and services for nuclear power plants and compliance, shielding, transport and interim and final storage requirements for government agencies and nuclear service companies. NNRF also owns or licenses proprietary leading edge technologies which provide NNRF with a market edge in manufacturing, design, engineering and services capabilities. NNRF's management team has extensive industry and government service including extensive in-house expertise in all aspects of radiological protection and radiological waste management. NNRF has entered into strategic alliance agreements with government agencies of the Russian Federation. Access through NNRF's strategic alliances to key processing and disposal facilities in the Russian Federation enables it to complete a broad range of projects efficiently and cost effectively. NNRF believes that this access provides vertically integrated services that distinguish it from competitors. NNRF manufactures nuclear power plant equipment in Russia and has multi-year sales contracts for a significant portion of current production with ROSATOM, the owner and operator of all Russian nuclear reactors. NNRF also provides products, services and proprietary technology based solutions through its strategic alliances to multilateral and bilateral funded projects located in Northwestern Russia known as the Northern Dimension Environmental Partnership (NDEP). This area contains the largest repository of spent nuclear fuel and radioactive waste in the world. The projects involve the decommissioning and disposal of nuclear powered naval vessels of the former Soviet Union. The projects are funded by G-8 member countries. NNRF currently is expanding its marketing to include the European Union, China, India and North America in 2007-08 through strategic marketing partnerships with multinational energy service companies. NNRF is currently engaged in the due diligence phase of potential further acquisitions in 2007-2008 which are intended to substantially increase its current asset and revenue base.
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 potential and other prospective presentations by NNRF. 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. NNRF 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 NNRF's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.