SOURCE: Nuclear Solutions, Inc.

May 03, 2007 08:17 ET

Fuel Frontiers Engages Shaw Stone and Webster as Engineering, Procurement and Construction Manager for Waste-to-Fuel Facilities

WASHINGTON, DC -- (MARKET WIRE) -- May 3, 2007 -- Fuel Frontiers, Inc. (FFI), a subsidiary of Nuclear Solutions, Inc. (OTCBB: NSOL), and Shaw Stone & Webster, a division of The Shaw Group Inc., have entered into a General Services Agreement for the joint development of waste-to-alternative fuels operations in the United States and Europe.

Shaw will provide project development and front-end engineering services for FFI's alternative fuels plants, including support for the selection and evaluation of commercial plasma gasification and gas-to-liquid (GTL) technology systems. The company also will be the exclusive Engineering, Procurement and Construction Manager (EPCM) for the anticipated waste-to-fuel facility at Toms River, New Jersey.

FFI's core business is the implementation of state-of-the-art commercial technology to transform low-value, end-of-life waste materials such as used tires, refinery sludge, waste coal, wood wastes, and agricultural waste byproducts into high-value, ultra-clean diesel and other synthetic fuels. FFI, as the owner of the proposed fuel plants, anticipates developing them using the Design-Build model with SS&W as the EPCM in addition to providing commissioning, operation and maintenance of the facilities.

FFI's current focus is on six plant construction and operations projects involving different plant feedstock sources. These include the announced plant at Toms River, New Jersey and two other plant sites using scrap tires. Additionally, three other plant sites in development in the southern United States will use refinery waste streams.

Shaw Stone & Webster offers technology and full EPC services in the process and power industries, providing a competitive advantage to its biofuels and syngas clients. The company has extensive experience of current commercial technologies for biofuels production and have carried out major feasibility studies, conceptual design and detailed engineering for bio fuels and gasification plants. SS&W has engineered and constructed more than 20 coal-fired plants over the past 40 years and has more recent experience with flu gas emission controls systems than any other contractor.

"Shaw becomes the lynchpin for FFI execution of its First Round of plants producing ultra-clean diesel from scrap," says John C. Young, FFI President.

The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services for government and private sector clients in the energy, chemical, environmental, infrastructure, and emergency response markets. A Fortune 500 company with nearly $5 billion in annual revenues, Shaw is headquartered in Baton Rouge, Louisiana and employs approximately 21,000 people (of which some 800 are based in the UK) at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. For further information, please visit Shaw's website at www.shawgrp.com

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 Director of Investor Relations at (202) 580-8330.

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 "to be constructed," "will provide," "will be," "is intended," "seems to be," "current focus," "intends," "when," "preliminary," "ongoing," "anticipates," "exploring," "possibly," "developing," "initial," "planned," "possibility," "seek," "endeavor," "proposed," "planned, 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 waste-to-fuel facility, a facility like this has never before been constructed or operated 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 waste-to-fuel 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. The Company intends to secure funding required for the waste-to-fuel project primarily through debt and/or 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:

    Nuclear Solutions, Inc.
    Investor Relations
    (202) 580-8830