Thorium Power Hails Legislative Breakthroughs
Recognizes U.S. Senate Approval of US-India Civilian Nuclear Cooperation Agreement and Introduction of "Thorium Energy Independence and Security Act"Font Scale:
MCLEAN, VA -- (Marketwire) -- 10/03/08 -- Over the last three days, the U.S. Senateapproved the landmark US-India Civilian Nuclear Cooperation Agreement andSenators Hatch and Reid introduced the "Thorium Energy Independence andSecurity Act of 2008." The former opens the way for U.S. companies to seekopportunities in India's $150 billion nuclear market while the latter pavesthe way for thorium-fueled nuclear reactors in the United States,allocating $250 million over five years for thorium fuel research at theU.S. Department of Energy. Following are remarks by Thorium Power, Ltd.(OTCBB: THPW) on this week's legislative milestones:
Seth Grae, Thorium Power's President and CEO, stated: "This is ahistorically significant week for the U.S. and global nuclear industries.We applaud the Senate's approval of the landmark US-India civilian nuclearcooperation agreement. We also recognize Senators Hatch and Reid forintroducing bipartisan legislation that promises to advance the nuclearrenaissance here in the United States. From Washington, DC to New Delhi,there is growing support for innovative, nuclear fuel designs thatpractically address increasing energy demands while adhering to the highestnon-proliferation standards."
Amb. Dennis Hays, Thorium Power's Vice President and Director of GovernmentAffairs, added: "We are greatly encouraged by the recent congressionalactions. These legislative milestones highlight the increasing interest innon-proliferative solutions and the many benefits of the thorium fuelcycle. As such, they directly support our ongoing mission to implementsafe, smart nuclear power while establishing a new standard innon-proliferation. India is an exciting new market with a longstandinginterest in thorium fuel. We look forward to accelerating our ongoingdiscussions with key Indian entities."
Secretary Rice is expected to sign the "123 Agreement," which willoperationalize the deal, during her visit to New Delhi this weekend. TheState Department press releases and the full text of the legislation may beaccessed via the following links:
state.gov
state.gov
govtrack.us
The Senate is expected to continue procedural deliberations on the "ThoriumEnergy Independence and Security Act of 2008." Following is a link toSenator Hatch's press release, which includes comments by Seth Grae:
hatch.senate.gov
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