SOURCE: Nuclear Solutions, Inc.

April 03, 2007 07:44 ET

Nuclear Solutions Releases 2006 10-KSB Annual Report

Company Subsidiaries in Active Pursuit of Multiple Clean Motor Fuel Production Plants

WASHINGTON, DC -- (MARKET WIRE) -- April 3, 2007 -- Nuclear Solutions, Inc. (OTCBB: NSOL), which is developing ultra-clean fuel production plants based upon bio-ethanol and plasma enhanced transformation of certain waste into ultra-clean motor fuels, announced that the company's 2006 Annual Report on Form 10-KSB for the year ended December 31, 2006 was recently released.

Among the report's highlights:

--  Fuel Frontiers, Inc.(FFI), the subsidiary engaged in the development
    of plasma enhanced waste-to-fuel production, re-prioritized project
    development efforts to focus on a total six, including five yet-to-be-
    announced, project sites believed to have the greatest near-term potential.
    
--  FFI retained Bear, Sterns & Co. to initiate the bond underwriting
    process to fund the developing waste-to-fuel facility near Toms, River, NJ.
    
--  In addition to this, FFI is actively pursuing multiple funding
    potentials for projects that would include debt financing, equity
    placements, federal and state grants, and federal and state loan
    guarantees.
    
--  The company subsidiary Liquidyne Fuels Inc., focusing on building,
    owning multiple fuel-grade bio-ethanol facilities, assembled a team of
    ethanol industry professionals to identify, assess, and began initial
    development of multiple potential bio-ethanol sites.
    
--  Liquidyne is currently assessing six potential bio-ethanol sites in
    the 50,000,000 gallon per year production range, two in Iowa and four in
    Nebraska. The company intends to prepare sites for turn-key financing as
    quickly as resources allow.
    
"We have quickly come to the point where we have more potential site locations to evaluate for bio-ethanol and synthetic fuel production than time and resources to do so. Since our goal is to develop multiple production sources, or as I term them, 'synthetic oil wells,' as efficiently as possible, we have to retask our manpower to focus on those potential sites that we believe will offer the best returns to our shareholders in the shortest amount of time. Eventually, as resources permit, we hope to develop many more sites in addition to these. Our business strategy remains focused on building a clean fuel business, not just one or two plants," said Patrick Herda, President and CEO of Nuclear Solutions, Inc.

The latest annual report is available online from the Securities and Exchange Commission on the web at: http://www.sec.gov/Archives/edgar/data/1116112/000114420407015854/0001144204-07-015854.txt

More information about Nuclear Solutions, Inc. may be found on its website: http://www.nuclearsolutions.com and www.fuelfrontiers.com.

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 "anticipate," "will serve," "working with," ""is intended," "seems to be," "intends," "developing," "preliminary," "ongoing," "subject to," "exploring," "possibly," "initial," "planned," "possibility," "seek," "endeavor," "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, similar facilities have succesfully operated before by others, however identical integrated facilities, with the exception of corn and/or fermentation based bio-ethanol facilities, referenced herein have 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. Additionally, the same cautionary statements shall apply, where applicable, to corn-based ethanol production projects. The Company intends to secure funding required for all projects referenced herein 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, this informational release should be read in conjunction with 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) 536-4653