SOURCE: Blue Castle Project

Blue Castle Project

November 02, 2011 10:00 ET

Blue Castle Nuclear Project Status Presented at Nuclear Construction Summit

PROVO, UT--(Marketwire - Nov 2, 2011) - Blue Castle Holdings Inc., an energy infrastructure development company, presented the status of the Blue Castle Nuclear Project at the 2nd Annual Nuclear Construction Summit in Charlotte, NC, on October 25th. The presentation included the progress on its Early Site Permit Application which will be submitted to the U.S. Nuclear Regulatory Commission. The Nuclear Construction Summit was attended by electric utility executives, major nuclear developers and companies deploying new nuclear plants.

Tom Retson, Chief Operating Officer of BCH, gave the attendees a close look at the company's current structure, its innovative business and financial strategy, and the status of licensing activities currently underway at the project site near Green River, Utah. He noted that his presentation charts can be viewed at the Company's website.

Mr. Retson described the company's current assets, including the land and water leases essential for plant operation, as well as the milestones achieved over the last five (5) years. He then detailed the company's site characterization activities, including meteorology, geology, hydrology, seismology, demographics and emergency planning. The conference attendees were also shown graphs and pictures of the activities taking place at the project site. The importance of the significant support received from state and local governments for the deployment of the two-unit nuclear power plant was recognized as essential to the project success.

The company's nuclear infrastructure development efforts are aimed at having a fully-licensed, ready to construct nuclear plant site in 2016. After four (4) years of preparation, BCH initiated its licensing activities in January of this year and has completed about 30% of the pre-ESP (Early Site Permit) activities. BCH is expecting to submit a completed ESP application to the U.S. Nuclear Regulatory Commission (NRC) in early 2013. The Company's expectations of success are based on executing a business model that focuses on the option value of the plant at the conclusion of licensing.

In his concluding remarks, Mr. Retson summed up the company's status, "Led by a committed management team, significant value has been added and project risks reduced with every successful activity. We expect to obtain a license for the construction of two nuclear power plants in Green River, on cost and on schedule."

About Blue Castle Holdings

Blue Castle Holdings Inc. (BCH or the Company) is an energy infrastructure development company based in Utah and Colorado. It is presently developing the leading new nuclear plant project site in the Western U.S. Through its wholly owned subsidiary, Willow Creek LLC (WC), the Company is also engaged in the construction, replacement and repair of natural gas, crude oil pipelines and fuel storage facilities for its customers located in Intermountain West.

More information about Blue Castle Holdings can be found at: www.bluecastleproject.com

Contact Information

  • For Media Inquiries:
    (801) 717-3080 ext. 311
    info@bluecastleproject.com


    Blue Castle Holdings Inc.
    86 North University, Suite 400
    Provo, Utah 84601