EUROTECH, Ltd. Successfully Tests EKOR at Savannah River
FAIRFAX, Va., Dec 6, 2001 (BUSINESS WIRE) -- EUROTECH, Ltd., (AMEX: EUO),
announced today that two of its EKOR(TM) nuclear encapsulation products were
successfully demonstrated at the Savannah River Site (SRS), a U.S. Department of
Energy (DOE) facility near Aiken, South Carolina, managed by Westinghouse
Savannah River Company (WSRC).
This represents the third paid EKOR demonstration and application at DOE sites
since August.
WSRC paid Eurotech technicians to perform two separate demonstrations of
EKOR(TM)'s capability. One test involved using EKOR(TM) Grout to seal a concrete
floor underneath a tank containing simulated liquid radioactive waste. The
second test involved EKOR(TM) Matrix microencapsulating simulated radioactive
debris. Both evaluations were performed as part of WSRC's continuing effort to
manage the radioactive waste at SRS in a safe and efficient manner. The
estimated revenue potential for just these specific applications at the Savannah
River Site is approximately $400,000.
The EKOR(TM) Grout was pumped onto a tank support deck using a long nozzle and
quickly formed a continuous surface that sealed against the base of the tank
containing simulated liquid radioactive waste. The Grout was self-leveling and
easy to direct, forming a 1/4-inch thick seal. This EKOR(TM) application
demonstrated how loose radioactive contamination could be fixed in place and
sealed to the floor, while preventing any tank leaks from penetrating the floor
and migrating to the environment. The Grout hardened to a solid elastomeric
surface within 24 hours. The radiation-resistant EKOR(TM) Grout accomplished all
objectives in the test, and provided a long-lived, fire-resistant barrier.
The EKOR(TM) Matrix was mixed with a quantity of simulated radioactive debris
and contaminated dirt in a three-to-one ratio of waste to EKOR(TM). The debris
was quickly absorbed into the Matrix solution and after only a few minutes of
mixing the resultant mixture was poured into a curing receptacle. After 24 hours
the mixture had hardened into a solid monolith that completely bound the debris
and dirt. These applications demonstrated EKOR(TM)'s ability to effectively
encapsulate and contain radioactive waste and provide a volume reduction
advantage over most conventional encapsulants. EKOR(TM) Matrix performed
flawlessly as revealed in examinations of cross-section cuts of the monolith to
verify its encapsulation capability.
WSRC is continuing evaluation of options to mitigate potential leaks from the
waste tanks. Eurotech Vice-President Paul Childress stated, "The capability of
Matrix to encapsulate large volumes of diverse waste - dry or wet, powder or
component - has now been verified and we expect to start receiving orders for
this product in January 2002. Eurotech is continuing to work with SRS personnel
on the application of its EKOR(TM) and related technologies to other critical
projects at their site, including High-Level Waste (HLW) management."
Eurotech has several outstanding proposals for EKOR(TM) applications at DOE
sites and with participating contractors. Recent DOE budget delays for FY2002
due to the September 11th crisis are being addressed this week, with major sites
expected to receive funding allocations and spending approval from the
Government.
Investors are cautioned that certain statements contained in this document as
well as some statements in periodic press releases and some oral statements of
Eurotech officials during presentations about Eurotech, are "forward-looking"
statements within the meaning of the Private Securities Litigation Reform Act of
1995 (the "Act").
Forward-looking statements include statements which are predictive in nature,
which depend upon or refer to future events or conditions, which include words
such as "expects", "anticipates", "intends", "plans", "believes", "estimates",
or similar expressions. In addition, any statements concerning future financial
performance (including future revenues, earnings or growth rates), ongoing
business strategies or prospects, and possible future actions, which may be
provided by management, are also forward-looking statements as defined by the
Act.
Some of the factors that could significantly impact the forward-looking
statements in this press release include, but are not limited to: insufficient
cash flow to continue to fund the development and marketing of the Company's
products and technology, a rejection of the Company's products and technologies
by the marketplace, unknown environmental liability risks and disputes as to the
Company's intellectual property rights.
CONTACT:
EUROTECH, Ltd.
by
ECON Investor Relations, Inc.
Dawn VanZant, 800/665-0411 |
