SOURCE: Nuclear Solutions Inc

October 03, 2007 08:55 ET

Nuclear Solutions, Inc. CEO States: GTL Diesel Only Target Fuel for Production by Subsidiary Fuel Frontiers, Inc.

Ethanol Business Not Part of Company Plans

WASHINGTON, DC--(Marketwire - October 3, 2007) - Today, Nuclear Solutions (OTCBB: NSOL) CEO, Patrick Herda, issued a clarifying statement with respect to the business plans of the company and its wholly owned GTL Diesel fuel subsidiary Fuel Frontiers, Inc. (FFI).

"Nuclear Solutions, Inc. and our subsidiaries, such as Fuel Frontiers, Inc. (FFI), are totally focused on the production of ultra-clean GTL Diesel fuel. Quite a few people believe that our companies are involved in the production of Ethanol, we are not.

"We made a decision to concentrate on the market for ultra-clean GTL Diesel fuel some time ago due to the maturity and stability of the diesel market place and the greater certainties associated with distribution, integration, production costs and profit margins," said Herda.

About Fuel Frontiers, Inc.

Recently the company announced that it has received a Two-Million Dollar ($2,000,000) commitment to fund initial project development for a CTL (Coal-To-Liquid) diesel fuel production facility to be sited in Muhlenberg County, Kentucky.

The Two-Million Dollar funding commitment is in connection with an exclusive CTL diesel fuel project development agreement between FFI and Kentucky Fuel Associates, Inc. (KFA), a Kentucky-based corporation established specifically to develop coal-based diesel fuel production sites. The company received a commitment to fund the balance of the Two Million Dollars by October 30, 2007.

FFI is planning to employ a commercially proven plasma gasification system designed by Westinghouse Plasma Corporation (WPC) coupled to commercially available Fischer-Tropsch (FT) gas-to-liquids (GTL) diesel fuel production systems, to be designed and constructed by Shaw Stone & Webster (SS&W) for its coal to ultra-clean diesel production facilities.

Additional information on ultra-clean GTL diesel can be found though the following links http://www.exxonmobil.com/corporate/files/corporate/campaign05/gtl_advances_AGC21.pdf and http://www.sasolchevron.com/gtl_diesel.htm

FFI is a wholly owned subsidiary company of Nuclear Solutions, Inc. (OTCBB: NSOL). FFI reports its operations and financial results on a consolidated basis within Nuclear Solutions, Inc.'s public filings. Visit www.fuelfrontiers.com for additional information. For further information on Nuclear Solutions, Inc. please contact an authorized representative of the company for further information. The only authorized representatives of the company are: Patrick Herda, Ken Faith, Jack Young and Fred Frisco and the only authorized investor relations telephone number is (202) 580-8330. The company is not responsible for information transmitted by an unauthorized third party or through calls made to or from an unauthorized telephone number. Please feel free to contact the CEO, Patrick Herda directly with any questions at (202) 470-2664.

DISCLAIMER:

The matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties such as our plans, objectives, expectations, and intentions. You can identify these forward-looking statements by our use of words such as "proposed," "initially," "to develop," "potentially," "concentrate," "believe," "plans to," "is considering," "projected," "target," "potential site," "to be constructed," "will provide," "will be," "is intended," "seems to be," "opportunity," "intends," "when," "preliminary," "focused," "exploring," "possibly," "developing," "initial," "planned," "possibility," "seek," "endeavor," "planning, 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.

With regards to forward-looking statements on the proposed CTL diesel fuel facility, FFI has never constructed or operated a facility like this before and there are inherent risks associated with the establishment of such new operations. There could be unexpected problems or delays in the funding, construction and operation of the facility. There is no guarantee that we will be successful in raising the capital required for this project. While we believe that the appropriate technologies for Coal-To-Diesel conversion are commercially available, we cannot guarantee that commercially available technologies will be suitable under all circumstances for producing synthetic or GTL fuels in the proposed Fuel Frontiers, Inc. facility. Additionally, KFA is a new corporation established in 2007 and has a limited operating history. While management believes that KFA has or can acquire the resources to provide funding under the terms of the agreement, no guarantee can be made that difficulties or delays could occur in receiving full funding from KFA and that all funding efforts will be successful. The Company intends to secure funding required for the CTL-fuel project primarily through structured finance debt instruments and/or limited equity financing.

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. 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 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) 470-2664