SOURCE: Nuclear Solutions, Inc.

July 07, 2008 10:22 ET

Nuclear Solutions, Inc. Poised for Strategic Realignment

WASHINGTON, DC--(Marketwire - July 7, 2008) - Today, Nuclear Solutions, Inc. (OTCBB: NSOL) issued the following statement regarding the company's future direction:

Nuclear Solutions, Inc. and Inter-Americas, Inc. have jointly decided to cease all discussions related to a potential Inter-Americas-led acquisition of all outstanding shares of Nuclear Solutions common stock through a Schedule TO (Tender Offer Statement Under Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934). Management of both companies are discussing the possibility of a limited joint venture in the future.

Nuclear Solutions' management believes this mutually agreed upon decision best enables the company to most effectively and expeditiously concentrate its resources on strategically positioning itself as a pure synthetic fuels producer. All other Nuclear Solutions business units will cease operations in favor of this refocusing on synthetic fuel production. The company plans to concentrate efforts exclusively on coal-to-diesel projects already underway in the state of Kentucky.

Penetrating the emerging synthetic fuels market will necessitate, among other changes, restructuring management and transitioning to new leadership, who have the business expertise and track record of success most applicable to building and operating synthetic fuel production facilities.

Toward this outcome, Nuclear Solutions President and CEO Patrick Herda said, "The Board of Directors is actively recruiting and interviewing executive management candidates with a background best suited to lead Nuclear Solutions as a pure brick-and-mortar synthetic fuels producer.

"To ensure that the transition is smooth and orderly, I will step down as President and CEO when Nuclear Solutions' Board selects and finalizes an experienced and qualified replacement in leadership. At that point, I will gladly welcome Nuclear Solutions' new leadership, who I anticipate will be well-positioned to expeditiously raise capital and evolve the company into a successful synthetic fuels producer.

"While I forsee leaving the roles of President and CEO shortly, I will likely serve the company in some as-yet-to-be determined capacity and duration after the transition given my institutional knowledge, experience, and technical expertise."

Though underway, no timeframe has been set for the transition's completion.

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, 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.

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 as "anticipate," "expect," "future," "potential," "plan," "planning," "believe," "intend," "possibility," "when," "will provide," "while yet to be determined," "targets," "projects," "discussing," "could," "should," "may," "can," "will," "would," "continue," "toward," "will be selecting," "though underway," "at that point," "anticipate," "emerging," "plans," "likely," "forsee," "as-yet-to-be," "though underway," "penetrating," 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