WASHINGTON, Sept. 23, 2005 (PRIMEZONE) -- Nuclear Solutions, Inc. (OTCBB:NSOL) announced today that its Board of Directors has named John C. (Jack) Young interim President of Future Fuels, Inc. until a permanent selection is made. Future Fuels, Inc. is a wholly owned subsidiary of Nuclear Solutions, Inc. focused on assessing, developing, constructing, and operating technology to convert waste such as trash, raw sewage, discarded corn stalks and other agricultural byproducts into renewable fuels such as clean-burning ethanol. Recently, Future Fuels, Inc. signed a confidential, non-binding letter of intent with multiple business entities to acquire technology, land, permits, feedstock, and management expertise to facilitate the design, construction and operation of a waste-to-ethanol production facility in the northeast United States.
"The opportunities for Future Fuels, Inc. are unique and great. The passage of the latest energy bill stipulating national use requirements for ethanol creates a growing market for this product. To meet the demand, Future Fuels intends to apply a competitive technological approach that would produce ethanol from waste streams, with positive implications for the environment. As Future Fuels continues to take the necessary steps to realize these opportunities, I very much look forward to launching the company," states Mr. Young.
A graduate of the U.S. Naval Academy, Mr. Young has an extensive professional background in the energy sector. After submarine service and experience as a reactor engineer with the Atomic Energy Commission, he became Vice President of NUS Corporation, where he managed plant construction, operations and regulation of nuclear fuel cycles. He was President of International Energy Associates Limited, an energy engineering and consulting firm where he specialized in plant technical development, regulation, construction, and operations. As Vice Chairman and co-owner of Holifield Exploration Cooperation, he developed and implemented oil production agreements in Russia and Kazakhstan. Mr. Young currently serves as a Principal of Firth Alliance, LLC, an emergency management and planning company, and holds the position of Vice President of Development at Nuclear Solutions, Inc. Before his selection as the interim President of Future Fuels, Inc. Mr. Young held several important positions during the Nixon, Ford, Reagan, and Bush administrations including the post of Deputy United States Commissioner of the Panama Canal.
"Jack Young's experience and know-how in the energy field, not to mention his impeccable credentials and professionalism, make him the ideal candidate to lead Future Fuels during this initial period before a permanent president is selected. Jack's selection as interim President is another positive event in bringing together the necessary components to propel our operations forward. It is our belief that Jack's management of the subsidiary will play a promising role in charting its future course," states President and CEO of Nuclear Solutions, Inc. Patrick Herda.
Nuclear Solutions, Inc. is an innovative technology development company committed to exploring, developing, and commercializing viable products in the areas of nanotechnology, environmental technology, as well as homeland security and defense. Call 202-787-1951 or explore www.nuclearsolutions.com for more information about the company.
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," "intended," "pursue," "could," "estimate," "continue," "plans," "planning," "potentially," "would," "forward," "intent," "creates," "formative," "outlines," "to reach," "announced," "ongoing," "are employing," 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 or businesses described herein. Management intends to secure funding for the events described herein through the use of debt or equity. 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 or licensing 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.