October 14, 1999
EUROTECH's Progress Report on Chernobyl Project
WASHINGTON, DC. EUROTECH Ltd. (OTC: BB:EURO) is pleased to report on Schedule to Apply EKOR at Chernobyl Shelter Project and Deliver Technologies
Details on the division of responsibilities between the Chernobyl Shelter Project and EUROTECH, Ltd. have been finalized. The Euro-Asian Physical Society (EAPS) is pleased with the initial quantity of EKOR in Moscow, where EKOR is being produced for the Chernobyl Project. Over the next two weeks the Chernobyl-EAPS Team is reviewing the equipment design modifications and methods necessary to apply EKOR in radioactive dust suppression and fuel-containing mass isolation, and the sites selected within the nuclear accident area of Chernobyl. The Joint Team is working an accelerated schedule to complete the first application of EKOR this year.
Chernobyl Reactor Number 4 is the site of the 1986 nuclear reactor accident in the Ukraine. The Shelter Project, which manages the nuclear site in Chernobyl, requested EUROTECH, Ltd. to apply EKOR in a joint project. EKOR test results have demonstrated that the radiation-resistant material will be an effective containment for centuries and has already been accepted by Chernobyl authorities.
On other EUROTECH, Ltd. progress - the initial review by McPhee Environmental Supply customers to several EUROTECH, Ltd. technologies has been very positive and generated requests for additional and larger samples. EUROTECH has received deposits for delivery of sample materials in November. One of McPhee's international accounts is projecting annual orders in the millions of dollars. McPhee has increased its ability to stock EUROTECH's material to accommodate the expected demand.
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.
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