Huge Push for Fusion Power to Generate Surge in Business for US Nuclear’s Tritium Monitoring Equipment
LOS ANGELES, CA, Feb. 14, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- As the dream for fusion energy slowly becomes reality, business and investment in this multi-billion dollar sector is booming, which is great news for US Nuclear’s (OTC-QB: UCLE) tritium monitoring branch. Tritium is the main fuel used in fusion power reactors, and as countries around the world invest in fusion power generation, there is a major increase in the need for tritium monitoring instrumentation. Fortunately for US Nuclear, their Overhoff Technology subsidiary is the world’s leading tritium monitor manufacturer, supplying the most dependable tritium equipment, including a number of vital products that no other suppliers can.
In recent years, a large percentage of Overhoff’s sales have been to:
National labs for research and national defense
Military for the Nuclear Navy and homeland security
Nuclear power plants, especially heavy-water types, for reactor control and facility monitoring
Industrial manufacturing (exit signs, emergency lighting, watch dials, gun sights, etc.)
Pharmaceutical companies for developing and testing new drugs
Now, Overhoff sees a surge of new business stemming from the fusion power industry. Investment in the fusion power sector is rapidly growing, and according to the Global Fusion Industry survey of 2022, public funding for the year was $4.7 billion in the US, with private investments rising 139% from 2021 to $4.8 billion. There has also been major progress in the field, with the National Ignition Facility achieving a historic net gain of energy just this past December.
While Overhoff sales to the US, Canada, South Korea, and east Asia have always been, and continue to be very strong, the company is eager to increase sales in additional countries that are investing in fusion power. The US, UK, EU, and Japan are all investing very heavily in fusion power. China and Canada are also among the most advanced in terms of fusion startups and research projects. At the center there is ITER of course, which has received billions in funding from countries all over the world, with the EU alone allocating €5.61 billion for the period of 2021-2027.
Overhoff manufactures a wide variety of tritium monitoring instrumentation that will be pivotal to all these fusion energy projects, including portable and fixed tritium air monitors, in-line process monitors, stack monitors, air samplers, and special ionization chambers-electrometers.
Fusion is considered the holy grail of clean energy, and as we’ve seen above, it is quickly gaining more popularity and funding as a green, dependable source of base power. US Nuclear is looking forward to seeing the growth and progress of this industry and being a part of it by providing the best tritium monitoring instrumentation on the market.
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US Nuclear Corp. (OTC-QB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Richard Landry, Chief Financial Officer
(818) 883 7043