SOURCE: Thorium Power

March 27, 2008 09:00 ET

Thorium Power Appoints Robert H. Ihde to Technical Advisory Board

MCLEAN, VA--(Marketwire - March 27, 2008) - Thorium Power Ltd. (OTCBB: THPW), the leading developer of non-proliferative nuclear fuel technology and provider of comprehensive advisory services for emerging nuclear programs, today announced the appointment of Robert (Bob) H. Ihde to its Technical Advisory Board.

Most recently, Mr. Ihde held key management positions within AREVA, including President & CEO of Duke, Cogema, Stone & Webster where his responsibilities included carrying out the U.S. MOX (Mixed Oxide) fuel program during his 2000 to 2005 tenure. He also served as President & COO of Cogema Technologies, Inc. from 1995 to 1999. In addition, Mr. Ihde spent a significant part of his career at Babcock & Wilcox where he held various management positions. While at Babcock & Wilcox, Mr. Ihde led the Nuclear Fuel Services Business Unit and led the formation of B&W Fuel Company, where, as President, he was responsible for establishing license agreements with international partners and successfully implemented new fuel assembly designs as well as related fuel hardware and services.

Thorium Power President and CEO Seth Grae stated, "It is an honor to announce that Bob Ihde has joined Thorium Power as a member of our Technical Advisory Board. Bob's leadership position is well established with many U.S. utilities and his credentials from years of service at AREVA and Babcock & Wilcox carry tremendous weight throughout the global nuclear power industry. We are excited to have an industry leader of Bob's caliber and someone who shares in our goal of delivering proliferation resistant nuclear fuel technology and integrated advisory services."

Mr. Grae concluded, "Bob's addition to the Technical Advisory Board augments our highly skilled board of nuclear fuel experts. The board's role is to guide the development of our fuel designs, and help assure the protection of our intellectual property. Bob joins Ernie Kennedy and Norton Shapiro, formerly with Westinghouse, and Ronald Murata, Thomas Retson and Sam Vaidyanathan, formerly with GE, in completing our well rounded and authoritative board."

About Thorium Power, Ltd.

Thorium Power (OTCBB: THPW) is a pioneering U.S. nuclear energy company based in McLean, VA. The Company develops non-proliferative nuclear fuel technology and provides comprehensive advisory services for emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Thorium Power's technologies, which are aimed at both existing and future reactors, include nuclear fuel designs optimized to address key concerns regarding traditional nuclear power, including proliferation of weapons usable nuclear materials and reduction of nuclear waste. The Company maintains a seasoned team with unparalleled experience from the nuclear energy industry, regulatory and government affairs, non-proliferation and diplomacy. It leverages those broad and integrated capabilities by offering consulting and strategic advisory services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure. Thorium Power also maintains long-standing relationships with leading Russian nuclear entities, providing expert resources and facilities for its nuclear fuel development activities. The Company seeks and forms partnerships with participants in the global nuclear industry, allowing it to address a wide range of international opportunities.

DISCLAIMER

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the new agreement with Kurchatov and other statements identified by forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "expects," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein. Reference is made to the risk factors contained in our latest annual report as filed with the Securities and Exchange Commission. These factors may cause actual results to vary from the forward-looking statements contained in this release.

Further information is available on Thorium Power, Ltd.'s website at http://www.thoriumpower.com

Contact Information

  • Contact:
    For more information:
    Peter Charles
    Thorium Power, Ltd.
    Tel: (703) 918-4932
    Email: Email Contact