MOSCOW, Dec. 14, 2006 (PRIME NEWSWIRE) -- NUCON-RF, Inc. (Pink Sheets:NNRF) today said that it has completed procedures for the import of its NuCap(tm) nuclear radiation shielding material into the Russian Federation under the Foreign Economic Activity Commodity Nomenclature (FEACN) No. 3214101000.
NUCON's efforts to import NuCap(tm) had been delayed by an unanticipated issue with Russian customs last summer. Russian customs regarded NuCap(tm) as a new material requiring new import classification. The Customs Ministry had no classification for the material and therefore was unable to permit importation until NUCON was able to work with them to finalize a new classification.
NUCON's next requirement is the certification of NuCap(tm) for sale in the Russian Federation. All new materials must be certified by an appropriate Russian Federation agency and full documentation issued by the certification agency after testing. This includes a certificate of the production facility, ecological certificate and the conclusion of two central expert institutes: Laboratory of the State Scientific Center of the Russian Federation-Institute of Physics and Power Engineering and the scientific research laboratory VNNINM. NUCON believes this process will be finalized by the end of January, 2007.
During certification NUCON will complete a full description of the NuCap(tm) products in Russian language specification sheets which will include complete information on:
* Material * Equipment * Instructions on use * Disposal solution after use
In the interim NUCON assembled a working group assigned to the marketing of NuCap(tm). This group has identified multiple uses and applications for NuCap(tm) in conjunction with decommissioning, shielding and disposal issues with various Russian agencies and has been conducting meetings with various users during the import and certification processes. NUCON has begun preparations for applications of NuCap(tm) at Sayda Bay and Andreyeva Bay. New applications have been developed which include a next generation of toxic and LLW/ILW containers utilizing NuCap(tm) as a damping agent.
NUCON efforts include: International Project Management Units working in the North-West Region of Russia for technical application of the materials and application engineering equipment to implement remediation, decommissioning and disposal projects for nuclear submarine compartments and their reactor units; the coatings of corroded waste drums; and cooperation with operators of nuclear power plants in the Russian Federation, CIS countries and the European Union to insure emergency control for nuclear and non-nuclear facilities
These discussions are progressing with the following organizations:
* The Federal Agency of Nuclear Energy of Russia
* The Dismantling Department of the Federal Agency of Nuclear
Energy
* (ICES) under management of The Institute "NIKIET" -- responsible
for Nuclear Power engineering, research and development
* The State concern -- Rosenergoatom
* The Mining and Chemical Combine ("MCC") of Zheleznogorsk --
nuclear waste disposal and remediation
* The Ministry of Science and Technology of the Federal Republic of
Germany
* Lithuanian Energy Institute
* European Bank of Reconstruction and Development
NUCON-RF, a U.S. corporation with executive and operations office located in Moscow and Berlin, is a technical solutions company focused on environmental markets in the Former Soviet Union, Eastern Europe and Asia. NUCON has the capability to provide product, technological and engineering support addressing environmental, power quality and radioactive waste challenges. These solutions address compliance, shielding, transport and storage requirements, plant equipment protection, energy efficiency and remediation techniques for diverse radioactive and toxic wastes. The company possesses extensive in-house expertise in all aspects of radiological protection and radiological waste management.
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 potentiality and other prospective presentations by NUCON-RF, Inc. 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. NUCON-RF 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 NUCON-RF's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.