Nuclear Solutions, Inc. (OTCBB: NSOL) has entered into an agreement with Access Capital Investment Group, Inc., an institutional leader of non-bank funding for growing businesses, to assist in securing working capital.
Nuclear Solutions seeks funding to accelerate its synthetic ethanol production projects and other groundbreaking initiatives in bio-ethanol production. The company plans to use the funds to move forward with the planning, site design, and engineering of these planned ethanol production projects.
"We are pleased to partner with Access Capital to open doors to financing that can prove pivotal to our efforts to supply the ethanol market on parallel fronts that include producing ethanol synthetically and through innovative and potentially cost-reducing adaptations to bio-ethanol technology. We have spent a significant amount of time over the last few months developing proprietary advances for enhancing synthetic and bio-ethanol production. As we continue to move closer toward announcing key developments regarding our dual approach to ethanol production, we welcome the confidence Access Capital has in our business model and in its value to attract suitable funding," states Nuclear Solutions, Inc.'s President and CEO Patrick Herda.
Nuclear Solutions, Inc. is an innovative technology development company committed to exploring, developing, and commercializing viable products in the areas of nanotechnology, environmental technology, homeland security and defense, and, most recently, alternative fuels. In August 2005, Nuclear Solutions, Inc. established Fuel Frontiers, Inc., a subsidiary implementing its own unique business model to utilize commercially available and proprietary technologies to transform low-value, end-of-life carbonaceous waste materials such as waste coal, used tires, wood wastes, biomass, discarded corn stalks and other agricultural by-products, into high-value, environmentally friendly, clean-burning ethanol. With its global Strategic Alliance Agreement with Connecticut-based Startech Environmental Corporation, FFI gains access to Startech's innovative, proven and proprietary Plasma Converter(TM) System, which is proposed for use in planned facilities to transform feedstock materials into ethanol. Currently, FFI reports its operations and financial results on a consolidated basis within Nuclear Solutions, Inc.'s public filings. Visit www.nuclearsolutions.com or www.fuelfrontiers.com for additional information.
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 "to assist in securing," "will facilitate," "seeks," "groundbreaking initiatives," "plans," "move forward with" "that can prove pivotal," "initiatives," "adaptations," "continue to move closer toward," "welcome," "confidence," "value," "to attract," "is proposed for use," "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-ethanol facility, a facility like this has 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 through the issuance of tax-free bonds discussed herein. While we believe that the appropriate technologies for waste-to-ethanol conversion are commercially available, we cannot guarantee that commercially available technologies will be suitable under all circumstances for producing ethanol in the proposed Fuel Frontiers, Inc. facility. Funds to purchase the subject land discussed in this press release have yet to be secured. The Company intends to secure such funding for the purchase primarily through debt and/or equity financing.
Overall, actual future results for Nuclear Solutions, Inc., and its subsidiary Fuel Frontiers, 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, 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.