SOURCE: Nuclear Solutions, Inc.

August 04, 2008 09:30 ET

Nuclear Solutions Announces New Transitional Advisory Committee Members

WASHINGTON, DC--(Marketwire - August 4, 2008) - Nuclear Solutions, Inc. (OTCBB: NSOL) announced the appointment of Major General Lincoln Jones, III (USA Ret.), Mr. Dick Westfahl, and Mr. James McCulloch to a transitional advisory committee formed to identify and recommend candidates with a petroleum industry background for the position of President and CEO as well as other key senior management positions. In addition, this committee will make recommendations for guiding and financing the development of the company's proposed coal-to-diesel projects in Kentucky.

The transitional advisory committee reports to the Board of Directors and will provide guidance, advice, and planning assistance for the company's coal-to-diesel projects and future projects to produce synthetic diesel from coal and other feedstocks, such as oil refinery waste, petroleum coke, and scrap tires.

Each member of the transitional advisory committee, serving at the direction and discretion of the company's Board of Directors, brings energy industry expertise and experience of benefit to Nuclear Solutions.

Major General Lincoln Jones is Chairman of Worldwide Strategic Partners, Inc., an energy consulting company. He was recently appointed to the Board of Directors of Global Resource Corporation, a publicly traded company that developed microwave technology for alternative fuel use. Major Jones retired from the Army as Deputy Commanding General U.S. Army V Corps, Germany where he was Deputy to the Former Secretary of State General Colin Powell. Following his Army career, General Jones was a key executive at Enron where he served as President of Enron Power Corp. (1991-98); Vice Chairman, Enron Europe (1996-98); and President, Enron Engineering & Construction (1993-96). During that time, he developed sixteen and operated eighteen power plants throughout the world. Since retiring from Enron in 1998, he has acted as a consultant for energy, military, and geopolitical issues.

Mr. Dick Westfahl is a graduate of the U. S. Naval Academy, Annapolis, Maryland and the U.S. Naval Postgraduate School in Monterey, California with an M.S. in Oceanography. Mr. Westfahl has served as Managing Director of Enron Engineering and Construction Company (EECC) from 1997 to 2001. In this capacity he also served as Executive Vice President of National Energy Production Company (NEPCO). Prior to that position he was President of Raytheon Environmental Services Company, a subsidiary of Raytheon Engineers & Constructors Company; Regional Director of Business Development for Harding Lawson Associates, an environmental engineering and consulting firm; and Vice President-Deputy Manager of Stone & Webster Engineering Corporation. Mr. Westfahl is also an Executive Energy Consultant to Worldwide Strategic Partners since 2005, and is also currently President of Worldwide Capital Partners II, an energy consulting company. Mr. Westfahl is a retired U.S. Naval Officer with experience in various leadership positions for the U.S. Navy, including that of Commanding Officer of a nuclear submarine.

Mr. James McCulloch graduated from Tulane University in 1974 with a B.A. in Political Science, and from Tulane University School of Law in 1977 with a J.D. degree. He has been a frequent author and speaker on legal and insurance issues. Mr. McCulloch retired from Global Santa Fe Corporation, an international offshore drilling and energy services company, in December 2007 consequent with that company's merger with Transocean Corporation. At the time of his retirement he served as Senior Vice President and General Counsel, an office to which he had been appointed in 1999, and had responsibility for all legal and risk management functions of the organization. Mr. McCulloch currently also serves as an advisory board member of Sunland Construction, Inc., a privately held company engaged in the construction of natural gas pipelines and the provision of complementary services to energy customers in the U.S.

About Nuclear Solutions, Inc.

Nuclear Solutions, Inc. (OTCBB: NSOL) and its subsidiaries report operations and financial results on a consolidated basis within Nuclear Solutions, Inc.'s public filings. Visit www.nuclearsolutions.com for additional information. For further information on Nuclear Solutions, Inc. please contact an authorized representative of the company. The only authorized representatives of the company are: Patrick Herda, Ken Faith, and Fred Frisco and the only authorized investor relations telephone number is (202) 580-8330 or (202) 787-1951. The company is not responsible for information transmitted by an unauthorized third party or through calls made to or from an unauthorized telephone number.

Additional Information and Forward-Looking Statements:

Any statements made in this release that are not statements of historical fact, including statements about our beliefs and expectations are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and should be evaluated as such. Forward-looking statements include statements that may relate to our plans, objectives, strategies, goals, future events, future revenues or performance, and other information that is not historical information. These forward-looking statements may be identified by words such "identify," "recommend," "will," "future," "proposed," "plan," "intend," "projects," "guiding," and other similar expressions. Some of these statements include discussions regarding our future business strategy, potential merger and acquisition activity, and our ability to generate revenue, income and cash flow. Although we believe that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could cause actual results or events to differ materially from those expressed in the forward-looking statements and projections.

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. No forward-looking statement or projection in the future will be updated to reflect the occurrence of unexpected events or a change in conditions or circumstances, except as required by law.

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. 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 www.nuclearsolutions.com.

Contact Information

  • CONTACT:

    Patrick Herda
    CEO
    Nuclear Solutions, Inc.
    Direct: (202) 787-1951