Published: May 03, 2007
Fuel Frontiers Engages Shaw Stone and Webster as Engineering, Procurement and Construction Manager for Waste-to-Fuel Facilities
Fuel Frontiers, Inc. (FFI), a subsidiary of
Nuclear Solutions, Inc. (OTCBB: NSOL), and Shaw Stone & Webster, a division
of The Shaw Group Inc., have entered into a General Services Agreement for
the joint development of waste-to-alternative fuels operations in the
United States and Europe.
Shaw will provide project development and front-end engineering services
for FFI's alternative fuels plants, including support for the selection and
evaluation of commercial plasma gasification and gas-to-liquid (GTL)
technology systems. The company also will be the exclusive Engineering,
Procurement and Construction Manager (EPCM) for the anticipated
waste-to-fuel facility at Toms River, New Jersey.
FFI's core business is the implementation of state-of-the-art commercial
technology to transform low-value, end-of-life waste materials such as used
tires, refinery sludge, waste coal, wood wastes, and agricultural waste
byproducts into high-value, ultra-clean diesel and other synthetic fuels.
FFI, as the owner of the proposed fuel plants, anticipates developing them
using the Design-Build model with SS&W as the EPCM in addition to providing
commissioning, operation and maintenance of the facilities.
FFI's current focus is on six plant construction and operations projects
involving different plant feedstock sources. These include the announced
plant at Toms River, New Jersey and two other plant sites using scrap
tires. Additionally, three other plant sites in development in the
southern United States will use refinery waste streams.
Shaw Stone & Webster offers technology and full EPC services in the process
and power industries, providing a competitive advantage to its biofuels and
syngas clients. The company has extensive experience of current commercial
technologies for biofuels production and have carried out major feasibility
studies, conceptual design and detailed engineering for bio fuels and
gasification plants. SS&W has engineered and constructed more than 20
coal-fired plants over the past 40 years and has more recent experience
with flu gas emission controls systems than any other contractor.
"Shaw becomes the lynchpin for FFI execution of its First Round of plants
producing ultra-clean diesel from scrap," says John C. Young, FFI
President.
The Shaw Group Inc. is a leading global provider of technology,
engineering, procurement, construction, maintenance, fabrication,
manufacturing, consulting, remediation, and facilities management services
for government and private sector clients in the energy, chemical,
environmental, infrastructure, and emergency response markets. A Fortune
500 company with nearly $5 billion in annual revenues, Shaw is
headquartered in Baton Rouge, Louisiana and employs approximately 21,000
people (of which some 800 are based in the UK) at its offices and
operations in North America, South America, Europe, the Middle East and the
Asia-Pacific region. For further information, please visit Shaw's website
at www.shawgrp.com
FFI is a wholly owned subsidiary company of Nuclear Solutions, Inc. (OTCBB: NSOL). FFI reports its operations and financial results on a consolidated
basis within Nuclear Solutions, Inc.'s public filings. Visit
www.fuelfrontiers.com for additional information. For further information
on Nuclear Solutions, Inc. please contact Director of 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 "to be constructed,"
"will provide," "will be," "is intended," "seems to be," "current focus,"
"intends," "when," "preliminary," "ongoing," "anticipates," "exploring,"
"possibly," "developing," "initial," "planned," "possibility," "seek,"
"endeavor," "proposed," "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-fuel 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. While we believe that the appropriate technologies for
waste-to-fuel conversion are commercially available, we cannot guarantee
that commercially available technologies will be suitable under all
circumstances for producing synthetic or GTL fuels in the proposed Fuel
Frontiers, Inc. facility. The Company intends to secure funding required
for the waste-to-fuel project primarily through debt and/or equity
financing.
Overall, actual future results for Nuclear Solutions, Inc., and its
subsidiary Future Fuels, 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.
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