VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2013) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX: IAALF) ("IBC" or the "Company") is pleased to announce that it will present its beryllium oxide ("BeO") nuclear fuel research at the American Nuclear Society's annual Top Fuels Light Water Reactor Fuel Performance meeting being held September 15 - 19 in Charlotte, NC. IBC's work focuses on developing an enhanced beryllium oxide, more accident tolerant, nuclear fuel for both current and future nuclear reactors. Recent developments will be presented at the conference.
"We are very encouraged with the results of our research to date and are pleased to be attending the conference," said James Malone, Vice-President of Nuclear Fuels for IBC. "We are committed to an enhanced BeO fuel and the further development of more accident tolerant fuels. We believe they will be the foundation of a more efficient, economically sound and safer nuclear power industry and we are looking forward to discussing our work with industry peers and potential future partners."
As a result of recent nuclear industry events, especially the 2011 accident at Fukushima, industry officials and governments are supporting alternative advanced fuel designs including increased R&D initiatives for more accident tolerant fuels. Because of this increasing industry awareness, the Company is in discussions with a number of potential nuclear industry partners, including Japanese fuel suppliers, to explore and discuss the next phase of R&D including irradiation requirements and testing of the fuel in test reactors.
IBC recently reported that the Massachusetts Institute of Technology ("MIT") completed a fuel performance study supporting IBC's BeO nuclear fuel technology combined with Ceramic Tubular Products, LLC ("CTP") silicon carbide cladding. The MIT report validates how IBC's BeO enhanced fuel and CTP's SiC cladding could reduce fuel operating temperatures and improve fuel operating characteristics leading to a safer and more accident tolerant fuel. The report, along with other recent findings from Texas A&M and Purdue Universities, will be presented at the Top Fuels conference.
Purdue and Texas A&M University nuclear engineers have shown how an advanced BeO nuclear fuel could potentially result in significant cost savings due to improved performance efficiencies over conventional nuclear fuels. In addition to the cost savings, an advanced BeO nuclear fuel could also improve the operational safety of nuclear reactors due to its improved thermal conductivity which allows the fuel to operate at lower temperatures which implies less sensible heat in the case of upset conditions.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of sectors including aerospace, automotive, telecommunications and a range of industrial applications. IBC has 83 employees and production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
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