Thorium Power Appoints Ambassador Thomas Graham, Jr. as Executive Chairman of Board of Directors
Posted : Tue, 19 Jun 2007 13:04:01 GMT
Author : Thorium Power
Category : PressRelease
earthtimes.org
MCLEAN, VA -- 06/19/07 -- Thorium Power, Ltd. (OTCBB: THPW), the leading developer of low-waste, non-proliferative nuclear fuel technology for existing and future reactors, today announced the appointment of Ambassador Thomas Graham, Jr., to the position of Executive Chairman of the Board of Directors, effective on August 1, 2007.
Seth Grae, CEO of Thorium Power, stated, "We are pleased that Tom, who has served as Thorium Power's Non-Executive Chairman of the Board of Directors since April 2006, has been appointed Executive Chairman of the Board of Directors to reflect his added responsibilities and full-time involvement in the Company. As our discussions with governments of other countries and leading companies in the nuclear power industry continue to evolve, Ambassador Graham's contribution as a knowledgeable and experienced expert in nuclear negotiations has been exemplary. We look forward to his continued support and guidance."
Ambassador Graham is one of the world's leading experts on nuclear non-proliferation. As a senior U.S. diplomat, he was involved in the negotiation of every major international arms control and non-proliferation agreement leading up to the end of the Cold War and permanent extension in force of the Nuclear Non-Proliferation Treaty (NPT). Ambassador Graham played a leading role in negotiation of the Strategic Arms Limitations Talks (SALT Treaties), the Strategic Arms Reduction Talks (START), Comprehensive Test Ban Treaty (CTBT) and many others.
A lawyer by training, Ambassador Graham served for 15 years as the general counsel of the U.S. Arms Control and Disarmament Agency (ACDA). He also served as the Special Representative of the President of the United States for Arms Control, Non-Proliferation, and Disarmament from 1994 through 1997, where he successfully led U.S. government efforts to achieve the permanent extension of the Nuclear Non-Proliferation Treaty with the consensus of all parties to the treaty, which were essentially every country in the world except for three countries that were not parties. As part of this process, Ambassador Graham met with representatives of about 180 countries and traveled to over seventy of those countries for negotiations. He brings these relationships and an unmatched global perspective to Thorium Power.
Ambassador Graham stated, "I am pleased to play an increasing role in Thorium Power's important business of deploying thorium-based nuclear fuel in the world's reactors. Non-proliferation, the environment, and energy are three of the most important issues facing the world and the global population at large. Given the large number of countries entering the market for nuclear power plants for the first time, I feel that diplomatic efforts to stop the spread of nuclear weapons-usable materials must be supplemented with changes to the nuclear fuel technology. Thorium Power's nuclear fuel-based technology stops the reactors from producing nuclear weapons-usable materials, produces much lower waste, reduces total fuel costs, and can be deployed in both new and existing nuclear reactors. Moreover, our technology has now been successfully demonstrated in a Russian research reactor for over four years. I look forward to utilizing my knowledge of nuclear non-proliferation and my strong relationships with key influencers in the business and political arenas to help commercialize thorium power's nuclear technology."
About Thorium Power, Ltd.
Based in McLean, VA, Thorium Power, Ltd. is a nuclear energy pioneer and the leading provider of low-waste, non-proliferative nuclear fuel technology for existing and future reactors. The Company's technologies include nuclear fuel designs optimized to address key concerns about traditional nuclear power, including nuclear proliferation and nuclear waste. Thorium Power plans to license its technologies to commercial and government owned reactor operators and nuclear fuel fabricators aiming to benefit from thorium-based fuels. The Company is targeting new reactors in countries without a nuclear industry today, as well as currently operating and new reactors in countries with an established industry. Thorium Power is also leveraging its nuclear technology, business and regulatory expertise and relationships by offering services to commercial entities and governments looking to establish or expand nuclear industry capabilities and infrastructure. In addition to leveraging its International and Technical Advisory Boards comprised of key national and international leaders in the fields of nuclear energy, finance, government affairs, non-proliferation and diplomacy, the Company maintains long-standing relationships with leading Russian nuclear entities, providing expert resources and facilities for its nuclear fuel development activities. To support the implementation of its business model, Thorium Power has plans to form partnerships with various types of participants in the nuclear industry, allowing the Company to address multiple nuclear reactor types internationally.
DISCLAIMER
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the proposed merger and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "expects," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks, as well as other risks associated with the merger, will be more fully discussed in any joint proxy statement or prospectus or other relevant document filed with the Securities and Exchange Commission in connection with the proposed merger. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.
Further information is available on Thorium Power, Ltd.'s website at thoriumpower.com
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