EUROTECH, Ltd. Negotiates Final Details on $100 Million Deal for Radiation-Resistant EKOR
WASHINGTON, DC. EUROTECH Ltd. (OTC: BB:EURO) Following a letter of intent to apply the radiation-resistant EKOR material in nuclear waste and nuclear power projects, EUROTECH and European representatives, and Euro-Asian Physical Society (EAPS) scientists met last week to finalize details of the agreements. The historic meeting involving EAPS was one of the few times that the Russian scientists, who created EKOR, have been outside of Russia.
The initial test demonstration of EKOR, which is a routine and essential process required by every nuclear country when introducing a new technology, is planned to commence in November. This period of several months will constitute the evaluation and licensing phase. Wider application of EKOR will commence immediately afterwards. The scope of the projects is expected to approach $100 million.
Due to the sensitivity of the projects and at the request of the primary customer, the customer will announce details of the contracts at a time that will suit his purposes.
EKOR was created after the 1986 Nuclear Accident at Chernobyl, Ukraine to address the problems of radioactive dust suppression and fuel-containing mass encapsulation. As previously announced, EUROTECH, Ltd. is currently participating in a project with the Chernobyl Shelter and Ukraine to apply EKOR at the failed reactor site. EKOR is a silicon geo-polymer able to maintain its physical properties after hundreds of years' exposure to radiation. EKOR's properties make it ideally suitable for nuclear waste management and it's compatible with current methods of nuclear waste management methods.
EUROTECH Ltd. is a diversified technology holding company formed to capitalize on business opportunities through the acquisition and commercialization of advanced technologies developed by prominent research institutes and individual researchers worldwide.
Certain information and statement included in this release constitute “forward-looking statements” within the meaning of the Federal Privates Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.
# # #
|
