International Isotopes Inc. Announces Nuclear Regulatory Commission Final Approval Of The Safety Evaluation Report For The Planned Depleted Uranium De-conversion And Fluorine Extraction Processing Facility
IDAHO FALLS, Idaho, May 31, 2012 /PRNewswire/ — International Isotopes Inc. (OTC Bulletin Board: INIS) (The Company) is very pleased to announce that the U.S. Nuclear Regulatory Commission (NRC) has completed its review and approval of the final Safety Evaluation Report (SER) for the Company’s planned depleted uranium de-conversion and fluorine extraction processing facility. The NRC has published the final SER as U.S. NRC Regulation (NUREG-2116) and has posted the document on the NRC website and published it in the Federal Register.
The Company originally submitted its license application to the NRC in December 2009, and the NRC has been reviewing that application and preparing the SER since that time. The SER documents the NRC’s staff review and their evaluation of safety, and potential adverse impacts on workers and the public under both normal operations and accident conditions. The NRC review also considers the management organization, administrative programs, and financial qualifications provided by the Company to ensure safe design and operation of the facility. The NRC staff has concluded, in this SER, that the Company’s descriptions, specifications, and analyses provide an adequate basis for safety of facility operations and that operation of the facility does not pose an undue risk to workers or public health and safety.
The NRC approval and publication of the SER is a major milestone in the licensing process for the Company’s planned facility. The only remaining NRC action to be completed before the Company is issued its combined forty-year construction and operating licenses for the facility is the final Environmental Impact Statement (EIS), which is expected to be issued as a final document around September 2012.
Steve T. Laflin, President and CEO of the Company said, “The NRC approval of the SER is certainly a major milestone in the Company’s effort to license and construct the first ever “green” depleted uranium de-conversion and fluorine extraction processing facility in the U.S. This is a truly unique, first of its kind facility, and the first SER to be issued by the NRC for a facility fully compliant with the NRC’s new Part 40 requirements, which incorporate integrated safety analysis as part of the original facility design. I would like to recognize the NRC staff for their excellent coordination and communication with the Company throughout the document review process as well as NRC management who worked to ensure the review process was completed in a timely manner and close to the original review schedule. I would also like to recognize the outstanding work of our management staff and our licensing and engineering subcontractor, Advanced Process Technology Systems, for the preparation of a high quality application and diligent support of the NRC requests for additional information. The overall quality of the license application allowed the NRC review to proceed without major challenges or problems with the technical or safety basis aspects of the plant design and planned operation.”
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 in the U.S. and expectations regarding the issuance of the final EIS. 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 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.