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Fuel Frontiers, Inc. Targets Eastern Pennsylvania Location for 250 Million Gallon Ethanol Production Facility E-mail or Print this story 10 April 2006, 08:10am ET Fuel Frontiers, Inc. (FFI), a subsidiary of Nuclear Solutions, Inc. (OTC BB: NSOL) formerly known as Future Fuels, Inc., announced today that it has entered into an agreement with Ambient Energy Corporation (Ambient) to secure a potential site with abundant feedstock in eastern Pennsylvania for a second waste-to-ethanol production facility in addition to the one under development in Toms River, New Jersey. FFI anticipates building a modular waste-to-ethanol plant at this site with the potential production capacity of 250 to 500 million gallons per year. FFI believes the target site is an excellent candidate since it already contains a railway spur and a significant supply of readily accessible waste coal, which would be the primary feedstock material for the proposed ethanol plant. Under the terms of the agreement, Ambient shall secure the purchase rights to the potential site in eastern Pennsylvania on behalf of FFI and in conjunction with the Seneca-Cayuga Tribe (Tribe), who have ancestral ties to this region. Once the purchase rights to the land are secured, FFI agrees to use its best efforts to purchase the land and submit a Fee-to-Trust application with the Bureau of Indian Affairs that would designate the land parcel as federally protected Tribal Trust Land for the Tribe. Upon successful conversion to Tribal Trust Land, the Tribe agrees to lease the land to FFI for the ethanol facility when satisfactory lease terms are concluded. When the facility is in production and operating profitably, FFI shall pay Ambient a royalty equal to twenty-five percent (25%) of the pre-tax net income of the ethanol facility for its operating life. Upon the approval of the Fee-to-Trust application on behalf of the Tribe and the completion of land lease agreements, FFI's proposed waste-to-ethanol production facility would be built on Tribal Trust Land. As such, the ethanol facility would be exempt from the state of Pennsylvania's permitting requirements, thus eliminating permitting expenses and expediting the process. Moreover, it is anticipated that one possible source of financing for the construction of the waste-to-ethanol production facility would be through bonds issued on favorable terms from the Tribe. "This is a work in progress and the details are still being worked out. Right now, we anticipate that the process could take about six months to a year and approximately $1,000,000 to successfully complete. However, once concluded, we would have an additional ethanol production site that has all of the raw materials to produce hundreds of millions of gallons of ethanol annually," states FFI President Jack Young. Consistent with the approach taken with the Toms River project, FFI anticipates finalizing all agreements pertaining to the eastern Pennsylvania site within the next 30 days. "The availability and abundance of feedstock at the site, the potential to be exempted from the lengthy permitting process and the option for bond financing through the Tribe certainly make the eastern Pennsylvania site extremely attractive to FFI and a natural fit for our business model. Our model is based on replicating our endeavors in Toms River, New Jersey, at other sites around the country and globe, where the necessary components of land, permits, feedstock, and financing come together strategically in a way that makes economic sense for opening another waste-to-ethanol production facility. Our goal is to continue locating similar sites and arrangements," adds President Young. Mentioned Last Change NSOL 1.95 Up0.60dollars or (44.44%) FFI proposes to implement commercially available and proven technologies to transform low-value, end-of-life carbonaceous waste materials such as waste coal, used tires, wood wastes, raw sewage, biomass, municipal solid waste, discarded corn stalks and other agricultural by-products, into high-value, environmentally friendly, clean-burning ethanol. FFI is planning a 52 million gallon waste-to-ethanol production facility in Toms River, New Jersey, for which it has already secured land, environmental permits, feedstock sources suitable for conversion into ethanol, a ten-year ethanol purchase contract, and preliminary approval for an $84 million bond authorization from the state of New Jersey. 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 FFI's planned facility to transform feedstock materials into ethanol. FFI's Toms River facility will become the prototype for launching additional facilities at other potential sites domestically and internationally, including potentially in eastern Pennsylvania. Currently, FFI reports its operations and financial results on a consolidated basis within Nuclear Solutions, Inc.'s public filings. For further information, visit www.nuclearsolutions.com or www.fuelfrontiers.com or call FFI Investor Relations at 202-580-8330. 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 "begin securing," "a potential site," anticipates," "believes," "shall secure," "potential," "when," "once the purchase," "are secured," "to use its best efforts," "upon successful conversion," "when satisfactory lease terms are concluded," "shall pay," "upon the approval," "completion of land lease agreements," "proposed," "would be built," would be," it is anticipated," "one possible source," "still being worked out," "we anticipate," "could take," "approximately," "once concluded," "is anticipated to occur," "option," "come together," "our goal," "proposes to implement," "is proposed for use," "will become," "potentially" 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 we suitable under all circumstances for producing ethanol in the proposed Fuel Frontiers, Inc. facility. 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. Distributed by Market Wire For further information, visit: www.nuclearsolutions.com www.fuelfrontiers.com FFI Investor Relations 202-580-8330 |
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| aus der Diskussion: | Aus Müll wird Ethanol gewonnen |
| Autor (Datum des Eintrages): | CarBech (11.04.06 07:22:26) |
| Beitrag: | 4 von 6 (ID:21154003) |
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