SOURCE: Nuclear Solutions, Inc.

October 06, 2009 12:49 ET

Nuclear Solutions, Inc. Appoints New President and CEO

Company Gears Up to Raise Additional Funds for CTL Projects

WASHINGTON, DC--(Marketwire - October 6, 2009) - Today, Nuclear Solutions, Inc. (OTCBB: NSOL) welcomes the appointment of John R. Fairweather as the company's new President and Chief Executive Officer.

"I am excited to join Nuclear Solutions and look forward to advancing the company's efforts to focus on coal to ultra-clean diesel projects. Our emphasis will be on successfully moving our company to the brick and mortar stage, based on the foundation that past management has worked so relentlessly to develop. Expanding clean fuel options for America, creating jobs and reducing our dependency on foreign oil, while building shareholder value, is our prime motive. Furthermore, we believe that the current opportunities in Muhlenberg County, Kentucky are ripe due to vast coal reserves as well as community and state support for a flagship project there. We intend to capitalize on this as rapidly as possible," stated Mr. Fairweather.

Ken Faith, Nuclear Solutions Inc. Chief Financial Officer, stated, "With Mr. Fairweather's portfolio of management and business development experience in building successful companies, growing revenues, facilitating financing, and managing mergers and acquisitions, we believe John Fairweather has the qualifications to position Nuclear Solutions, and our subsidiary Fuel Frontiers, as a leader in coal to ultra-clean diesel production." Mr. Faith commented further, "We deeply appreciate Patrick Herda's prudent leadership and dedicated commitment to the shareholders since 2001. Mr. Herda competently and professionally guided NSOL to the opportunities before it today. The company also benefitted from the sage and steady guidance of Board member John Powers during this period. Their service to the company is greatly valued."

Consistent with the July 2008 announcement to make way for new management, Mr. Herda, together with Mr. Powers, resigned October 1, 2009 to pursue other professional opportunities.

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. For further information on Nuclear Solutions, Inc. please contact an authorized representative of the company. The only authorized representatives of the company are: John Fairweather and Ken Faith. The only authorized investor relation's telephone numbers is (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. Without limiting the generality of the foregoing, these forward-looking statements may be identified by words such as "advancing," "will be," "to," "plan," "expect," "believe," "focus," "intend," "could," "would," "emphasis," or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. 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.

Contact Information

  • CONTACT:
    John Fairweather
    CEO
    Nuclear Solutions, Inc.
    Tel: (202) 787-1951