MOSCOW, May 16, 2008 (PRIME NEWSWIRE) -- NNRF, Inc. (Pink Sheets:NNRI) is pleased to announce that as part of its ongoing commercialization initiatives, the Company, in cooperation with ICES (the International Center for Environmental Security), will demonstrate the application and effectiveness of its radiation encapsulation material RadSeal in the northwest region of Russia. ICES is a Rosatom department that is focused on the remediation of Russian radioactive and toxic contamination concerns. After intensive testing, NNRF, Inc. has determined that RadSeal meets the Company's requirements better than its former encapsulation product. In addition, working closely with RadSeal's supplier, NNRF has been able to source application equipment that can be successfully used with RadSeal and additionally has existing Russian importation customs clearance.
RadSeal is designed for the suppression and encapsulation of radioactive and toxic dust and for the binding of other contaminants on several surfaces including floors, walls, ceilings, concrete and metal. RadSeal, which is waterproof, can be cured underwater and is non-combustible. RadSeal can also be used to line both the interior and exterior of drums that are used for the long term storage of radioactive and toxic waste. The waterproof RadSeal lining helps prevent rust from corroding the drums, which is the most common cause of drum failure and can lead to the leaking of radioactive and toxic waste. RadSeal can also be applied to new drums to protect against possible future corrosion or to existing drums to either stop or protect against leaking.
Through its operating subsidiary OOO Nucon Rus, NNRF will supply approximately 500 kg of RadSeal to this project. In addition, a turnkey application technology including German produced application equipment will be supplied for this project. ICES and NNRF personnel will apply RadSeal in one of Rosatom's facilities in the Murmansk region of northwest Russia. ICES and NNRF will deploy RadSeal in spray and liquid form. Both of these formats are ideal for use in contaminated facilities such as building No. 5 at Andreyeva Bay and other contaminated facilities and decommissioning projects in Russia and other international areas. The ability to apply RadSeal to all areas of contaminated buildings and to encapsulate radiation sources and suppress radioactive dust will permit workers to more safely enter contaminated facilities to perform essential decontamination work.
Due to a major holiday period in Russia covering the period April 29 - May 11, 2008 Atoll's auditors are still completing their quarterly review of Atoll's results for the period Jan 1 - Mar 31.08. Accordingly NNRF will file its 10Q for the period January 1-March 31 2008 by May 20.2008. The Company is in discussion with its Russian partners regarding the timeliness of audit services.
ABOUT NNRF:
NNRF is a U.S. corporation with executive and operations offices in Moscow, Russia; Munich, Germany and North America. NNRF, through its Russian based partners, 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's management team has extensive industry and government service experience including 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 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.