For Release on April 26, Trading Symbol: NQB Pink Sheets: NNRF
Nucon-RF Executes Agreement With The International Center Of Environmental
Security Of The Russian Federation
Nucon Also Participates in the Strategic Master Plan Workshop at the EBRD
MOSCOW, April 26, 2007 -- NUCON-RF, Inc. (Pink Sheets: NNRF) today announced it has entered into a definitive agreement with the International Center of Environmental Security (ICES) of the Ministry of Nuclear Energy of Russia.
NUCON-RF previously entered into a letter of intent with the ICES on January 11, 2007. Following careful review and consideration of the polymeric and composite radiation resistant shielding materials of NUCON-RF, ICES has agreed to apply the technologies of NUCON-RF in international projects relating to the decommissioning of nuclear objects and ecological rehabilitation on radioactive objects and territories in the Russian Federation.
Given the significance and importance of the current nuclear and radiation security at FSUE “SevRAO” (Andreyeva Bay, Building No. 5, and Gremikha), and also the site for storage of reactor blocks in nuclear-power submarines on Saida Bay, the following was agreed:
1. To recommend the use of radiation-resistant, nonflammable, and tolerant to nuclear radiation, mechanical and chemical effects, the polymeric composite material NuCap™ for dust suppression in nuclide-contaminated rooms of the Building No.5 on Andreyeva Bay (Murmansk Region) and also utilization of Nucap™ by means of repairs to reduce radiation effects on the people working in Building No. 5.
2. To coordinate possible applications of NuCap™ on the objects of the FSUE “SevRAO” (Northwest Russia) and “DalRAO” (Far East Russia) for encapsulation and protection of drums for low- and medium-active waste storage against corrosion, disposal and leaking due to current unsatisfactory technology of condition and external factors, and also other surface areas where protection against radioactive wastes is needed.
3. To study and recommend the application of NuCap™ for stabilization and encapsulation of reservoirs with toxic wastes. In this case, the toxic wastes will be put in the NuCap™ matrix into long term storage.
4. To define possible regions (Saida Bay, Andreyeva Bay, Gremikha, etc.) of application and give recommendations for usage of the shielding composite materials FEECOM/BIECOM which are intended for the substitution of Lead as a radioactive preservation; lead being because very toxic and the sphere of its application becoming phased out.
NUCON-RF also announced that it participated as an advisor to ICES and ROSATOM at the Northern Dimension workshop held in London at the headquarters of the European Bank for Reconstruction and Development (EBRD) on April 12, 2007. This conference was organized by the Contact Energy Group of the European Union.
The purpose of this conference was to review the current status of the Strategic Master Plan for the International Global Partnership administered by the European Bank of Reconstruction and Development and funded by donor countries of the G-8. At the conference, Victor Achunov, department head, department for decommissioning of nuclear and radiation hazardous facilities for the Ministry of Nuclear Energy of the Russian Federation (ROSATOM) presented an overview on the progress on the dismantlement of nuclear powered submarines (NPS). The report emphasized the goal of dismantlement of NPS by the end of 2010 and that there are presently 198 decommissioned NPS, 148 dismantled NPS , with an additional 23 NPS in process of dismantling and 24 NPS waiting for dismantlement.
Albert Vasiliev, department head of ICES, presented a report on the results of the Strategic Study on Development and Justification of Criteria for Remediation of Radiation-Contaminated Sites. The report included the analysis of the status of protective barriers and current levels of radioactive contamination, reviewed possible options for future use of contaminated sites and justified basic and derived criteria for remediation.
Dr. Hans-Jürgen Engelmann, Director of Shielding Materials for NUCON-RF, conducted preliminary negotiations with many of the multinational nuclear power firms in attendance regarding the introduction of shielding technologies of NUCON-RF into the global markets and beyond the markets identified in the Russian Federation.
Safe Harbor Statement
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding announcements of financial results, business potentiality and other prospective presentations by NUCON-RF, Inc. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products in domestic and international markets will continue to expand. NUCON-RF undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in NUCON-RF's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
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