IDAHO FALLS, Idaho, Oct. 3, 2012 /PRNewswire/ -- International Isotopes Inc. (OTC Bulletin Board: INIS) is pleased to announce that the United States Nuclear Regulatory Commission (NRC) has issued a Part 40 combined construction and operating license for the Company's planned depleted uranium de-conversion and fluorine extraction processing facility. The license was signed and issued to the Company during a brief ceremony at NRC offices in Bethesda, Maryland on October 2, 2012.
The Company originally submitted its license application to the NRC in December 2009, and the NRC had been reviewing the application since that time. The planned facility is a first-of-its-kind depleted uranium de-conversion facility and the first source material facility to implement full-integrated safety analysis, consistent with requirements of Part 70, Subpart H of NRC regulations. The facility will also be the first source material facility to be licensed by the NRC for a forty-year license term.
The Company plans to use a two-step de-conversion process that combines a well-known technology with the Company's demonstrated and proprietary Fluorine Extraction Process, or "FEP". The Company intends for the project to be a "green, environmentally friendly" production facility that will focus upon extraction of fluorine during the de-conversion process to produce numerous high-value and commercially important fluoride products that are used by a variety of companies to manufacture products for the solar, microelectronics, and petrochemical markets.
Steve T. Laflin, President and CEO of the Company commented, "We are very pleased and gratified to have successfully completed the NRC license process for our planned facility. There was a tremendous amount of work required to complete this license process and I give special recognition to our Regulatory Manager, Mr. John Miller, and the Advanced Process Technology Systems team led by Mr. Jim Thomas, for their hard work and expertise in dealing with the myriad of issues addressed and efficiently resolved during this license process. I would also once again like to recognize the NRC staff for their excellent coordination and communication with the Company throughout the license review process and their timely review of the license application. The receipt of the NRC license has long been identified by the Company as a prerequisite for entering any serious negotiations for project financing."
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 statements with respect to the Company's plans to construct the first commercial depleted uranium de-conversion and fluorine extraction processing facility, the ability of the Company to finance the project, and any expectations regarding return on investment in the project. 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 the Company 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 the Company's filings with the Securities and Exchange Commission at www.sec.gov, including our Annual Report on Form 10-K for the year ended December 31, 2011. 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. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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SOURCE International Isotopes Inc.