WASHINGTON, May 15 /PRNewswire/ -- Kentucky Fuel Associates, Inc. was
informed at a ceremony on Monday, May 12, 2008 that Muhlenberg Fiscal Court
will be investing more than half a million dollars to build the first
large-scale coal-to-diesel fuel conversion plant in the Country. Muhlenberg
County has designated $625,000.00 from its Coal Severance Allotment Program
to the joint partnership between Kentucky Fuel Associates, Inc. and Fuel
Frontiers, Inc., a wholly owned subsidiary of Nuclear Solutions, Inc. Under
this partnership, these companies have plans to develop up to eight plants
in the State of Kentucky.
Kentucky Fuel Associates, Inc. could receive up to $2.5 million in
State grant money for which it has already applied for the Muhlenberg plant
facility. They can also receive $2.5 million for a second plant site which
is under the Kentucky Science and Technology Corporation who administers
this entrepreneurial pool established under the Kentucky passed energy
bill.
The first plant is to be built in Muhlenberg County to produce 70
million gallons of diesel fuel annually from coal after being built.
The construction phase is to begin next year and should require up to
300 workers to complete the facility. After its completion it will provide
employment for about 80 workers when the plant becomes operational in 2011.
Kentucky Fuel Associates, Inc. and Fuel Frontiers, Inc. are very
grateful and encouraged by the support of Muhlenberg County officials,
State Officials and commend the efforts of State Representative Brent Yonts
of Greenville Kentucky of all his leadership and vision to bring this
project to the forefront to make it a reality.
Forward-looking statement:
Any statements made in this release that are not statements of
historical fact, including statements about our beliefs and expectations
are forward- looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and should be evaluated as such.
Forward-looking statements include the KFA funds assignment statement and
statements that may relate to our plans, objectives, strategies, goals,
future events, future revenues or performance, and other information that
is not historical information. These forward-looking statements may be
identified by words such as "anticipate," "expect," "suggests," "is
designed to," "plan," "planning," "believe," "intend," "estimates," "will
provide," "to be designed," "targets," "projects," "could," "should,"
"may," "can," "will," "would," "continue," "forecast," and other similar
expressions. Some of these statements include discussions regarding our
future business strategy, potential merger and acquisition activity, and
our ability to generate revenue, income and cash flow. Although we believe
that these forward-looking statements and projections are based on
reasonable assumptions at the time they are made, you should be aware that
many factors could cause actual results or events to differ materially from
those expressed in the forward-looking statements and projections.
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, KFA's Kentucky grant
limitations and their actual performance (which is out of our control), the
companies' limited operating history, dependence on key management,
financing requirements, technical difficulties commercializing any
projects, government regulation, technological change, and competition. New
data and information could be obtained at any time which may render
previous opinions and discussions obsolete or irrelevant or outdated. No
forward-looking statement or projection in the future will be updated to
reflect the occurrence of unexpected events or a change in conditions or
circumstances, except as required by law.
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. 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 http://www.nuclearsolutions.com.
SOURCE Nuclear Solutions, Inc.
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Related links: http://www.nuclearsolutions.com
CONTACT: Fred Frisco, +1-908-227-3949
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