IDAHO FALLS, Idaho, Dec. 31 /PRNewswire-FirstCall/ — International Isotopes Inc. (OTC Bulletin Board: INIS) announces it has submitted its license application to the U. S. Nuclear Regulatory Commission (NRC) for its depleted uranium de-conversion and fluorine extraction processing facility.
Steve T. Laflin, President and CEO, stated, “The submission of this license application represents another significant accomplishment for the Company and is the most recent milestone in our continued progress towards construction of this unique, commercial, environmentally friendly nuclear facility. The project is on target and on schedule.”
In March 2009, the Company announced the selection of a 640-acre building site for the facility just west of Hobbs, New Mexico. In June the Company announced completion of the Conceptual Design Report (CDR) for the project.
Laflin continued, “We are very pleased with the quality and pace of licensing and design work on this project by Company personnel and our licensing and engineering subcontractor, Advanced Process Technology Systems L.L.C. (APTS). APTS assembled an excellent team of personnel highly experienced in many important aspects of licensing, such as Integrated Safety Analysis. The extensive experience of that team has helped to produce a high quality license application document.”
The NRC license review is expected to take approximately 18 to 24 months to complete. The Company plans to select a design and build contractor next year and may initiate some pre-license construction activities at the Hobbs site in 2010, subject to NRC approval. The project schedule envisages completion of construction by the end of 2012.
About International Isotopes Inc.
International Isotopes Inc. manufactures a full range of nuclear medicine calibration and reference standards, high purity fluoride gases, and a variety of cobalt-60 products such as teletherapy sources. The Company also provides a wide selection of radioisotopes and radiochemicals for medical devices, calibration, clinical research, life sciences, and industrial applications and provides a host of analytical, measurement, recycling, and processing services on a contract basis to clients.
International Isotopes Inc. Safe Harbor Statement
Certain statements in this press release 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, including the statements with respect to the quality of the license application, the time required for the NRC to complete the license application review and approval, plans for pre-license construction activities, and goals of constructing a depleted uranium de-conversion processing and fluorine extraction facility. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of International Isotopes Inc. to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in International Isotopes Inc.’s filings with the Securities and Exchange Commission at www.sec.gov, including our annual report on Form 10-K for the year ending December 31, 2008. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Additional factors that could materially affect the results, performance or achievements of the Company include the ability to successfully obtain additional funding necessary to complete its planned de-conversion facility. Achievement by the Company of the project is substantially dependent on success in securing off-take agreements with commercial enrichment companies for depleted uranium hexafluoride for de-conversion services and supply of the raw material for the production of high quality fluoride gasses. The forward-looking statements made herein are only made as of the date of this press release and International Isotopes, Inc. undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
For more information, visit our web site at www.intisoid.com