Submitted by: Nuclear Solutions, Inc.
Categories: Human Resources & Diversity1
Posted: Jan 23, 2002 – 11:00 PM EST
Jan. 23 /CSRwire/ - Nuclear Solutions, Inc. (OTCBB:NSOL) announces the appointment of John Dempsey as executive vice president and chief operating officer.
Dempsey will be responsible for general operations involving NSOL's continuing development of the company's proprietary HYPERCON(TM) ADS technology, which holds the promise of neutralizing nuclear waste safely and economically.
"NSOL is extremely pleased to have a person of John's caliber to take our operations to new levels," said Dr. Paul M. Brown, NSOL president and CEO. "With his senior management experience and expansive purview of the nuclear power generation business, John will be a major asset to NSOL as it continues to grow and prosper," Dr. Brown concluded.
Before joining Nuclear Solutions, Dempsey was the vice president of METALAST International, Inc., the world's leading supplier of proprietary computer-controlled anodizing technologies. Earlier, he served as president & CEO of U.S. Environmental Group, Inc., which provides hazardous waste remediation equipment and services to major oil companies, governmental, and other industrial concerns. Prior to that, Dempsey spent 21 years with Bechtel Power Corp., primarily managing construction and start up of major nuclear and fossil-fueled power projects worldwide.
This press release may be deemed to contain forward-looking statements that could affect the financial condition and results of operations of the company and its subsidiaries. Further information on potential factors that could affect financial conditions, results of operations, and expansion projects of the company are included in filings with the U.S. Securities and Exchange Commission.
NOTES TO EDITORS:
1. Nuclear Solutions, Inc. (NSOL) is pioneering the application of photonuclear physics for the treatment of nuclear waste and the safe, efficient generation of electricity. Development of this patented and patent-pending technology could result in the elimination of nuclear waste and a new generation of nuclear reactors that are able to burn their own waste.
The application of photonuclear physics to nuclear waste is called Photodeactivation (a term coined by the inventor, Dr. Paul M. Brown). Photodeactivation involves the irradiation of specific radioactive isotopes to force the emission of a neutron, thereby producing an isotope of reduced atomic mass. These resultant isotopes can be characteristically either not radioactive or radioactive with a short half-life.
The fundamental mechanism works on the laboratory scale, and preliminary computer simulations suggest that this technology will also work on the industrial scale. NSOL is taking the steps necessary for commercialization of the technology. As for most of the advanced nuclear technologies developed today, computer simulation is one of the most important and necessary steps. NSOL will use and improve a series of nuclear simulation codes (MCNP). The new set of simulation codes will allow the NSOL research and development team to design, test, improve, and develop experiments and commercial facilities through computer modeling.
NSOL plans to capitalize on its patent and patent-pending technology by forming strategic alliances and joint ventures with well-established leaders in the nuclear industry. Continued revenue streams are expected through licensing of the technology with both upfront fees and ongoing royalties.
2. NSOL's technology, the HYPERCON (TM) ADS process, is an electron accelerator-based photodisintegration process, incorporating the most recent advances in the photo-nuclear industry.
3. The technology could be developed into new applications for remediation of nuclear waste. Industrially, it would operate at a sub-critical level, so the heat produced by the process could also be used to generate electricity in a safe and environmentally benign manner.
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