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(EMAILWIRE.COM, April 29, 2011 ) ATCO, NJ -- Today, Nuclear Solutions, Inc. (PINK SHEETS: NSOL.PK) issued a statement from the companyÂ’s new President and Chief Executive Officer, Harry Bagot.
Dear Shareholders,
Having concluded my first few weeks as President and CEO, I feel it is appropriate to report on positive developments regarding our day-to-day business structure and corporate governance. I will also provide comments of our proposed Coal to Synthetic Fuel Plant in Kentucky.
At the Boards direction we have formed an Executive Committee that will be an instrument utilized to streamline decision-making as we manage our business. The executive committee consists of Stanley Drinkwater, Bill Chady, Ken Faith and myself as the Signatory.
We are very pleased how our management team has evolved and are poised to work effectively for the Board of Directors with a proactive management environment.
We retained Mr. Fred Frisco to handle investor relations, and his official title is Director of Investor Relations. Mr. FriscoÂ’s background and prior experience with our company makes him an excellent conduit to provide shareholders with pertinent information about the company and our projects on a regular basis.
I was selected for this position based on my past experience as a Real Estate Executive and most recently as Project Manager for the $400 Million-Dollar family housing privatization project at McGuire Air Force Base and Ft. Dix Military Base. The team developed and built 1635 new homes while renovating 449 existing homes. The selection process and development of preliminary plans took almost two years. During the development and construction process the Air Force provided consistent and thorough oversight regarding every aspect of the project. Federal and state regulatory compliance and in-depth due diligence for each phase of the project were monitored by the creation of over twenty-five business plans. The plans were written to ensure that both construction and management operations complied with the represented scope. In addition to new construction, the scope called for the demolition of 1915 older homes, construction of new infrastructure consisting of new street, storm water management, water and sewer mains, and moving electric overhead power lines underground. Over 18 Million Dollars of contaminated soil was removed from the project site. The project also included the construction of two community centers, fifty playgrounds, interconnecting walking jogging trails and management of an electric substation.
I plan on providing the Kentucky CTL synthetic fuel project with the same level of oversight and due diligence. One of the keys of success in the Maguire/Ft. Dix project was the persistence of team members to remain on task and not to lose sight of the primary goal. I want to bring this same persistence and critical path management to our CTL projects.
At this time, our team is focused on developing and building a coal-to-synthetic fuel plant in Muhlenberg, Kentucky. We are analyzing the pro forma, reviewing both hard and soft construction costs, and evaluating the existing site purchased by our subsidiary Fuel Frontiers, Inc. Current budget inputs such as the current cost for coal feedstock, and proposed off-take agreements are being adjusted to account for current economic conditions.
Today with crude oil selling for over $110.00 a barrel and, the national average price of gasoline over $4.00 per gallon, shareholders frequently ask the question, “why is NSOL different from the other alternative energy companies?”
The difference is in NSOLÂ’s strategic approach to the multifaceted fuel requirements of our society. Instead of limiting our business model to production of one specific kind of fuel, such as synthetic diesel, our vision is fortified with the potential to create new ventures addressing the requirements for synthetic jet fuel and synthetic gasoline when technology and economic viability converge to produce opportunities for us.
From our perspective, no other producer that we are aware of has considered the component of production-side fuel flexibility. The choice fuel of the future is unclear. Because of this, having the potential for production-side flexibility is a priority. I believe that the potential to capitalize on the needs for various fuels as the market shifts and evolves will strengthen our business model. The future for our company is not committing to a single alternative fuel but having the ability to adapt and adjust to market demands.
Very truly yours,
Harry R. Bagot
About Nuclear Solutions, Inc.
Nuclear Solutions, Inc. (PINK SHEETS: NSOL.PK) and its subsidiaries report operations and financial results on a consolidated basis within Nuclear Solutions, Inc.'s public filings. For further information on Nuclear Solutions, Inc. please contact an authorized representative of the company. The only authorized representatives of the company are: Harry Bagot and Fred Frisco. The only authorized investor relationÂ’s telephone numbers is (856) 322-6527. The company is not responsible for information transmitted by an unauthorized third party or through calls made to or from an unauthorized telephone number.
Additional Information and Forward-Looking Statements:
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 statements that may relate to our plans, objectives, strategies, goals, future events, future revenues or performance, and other information that is not historical information. Without limiting the generality of the foregoing, these forward-looking statements may be identified by words such as "poised", "will be", "to", "plan", "expect", "believe", "focus", "intend", "could", "would", "positive", or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. 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 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. 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.
Nuclear Solutions, Inc.
Fred Frisco
856-322-6527
frisco@nuclearsolutions.com 
Source: EmailWire.com
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