International Isotopes Inc. Announces Completion of a Licensing and Permitting Assistance Agreement with URENCO USA
IDAHO FALLS, Idaho, Sept. 8 /PRNewswire/ — International Isotopes Inc. (OTC Bulletin Board: INIS) announces completion of an agreement with URENCO USA to provide assistance to International Isotopes on its Nuclear Regulatory Commission licensing and State of New Mexico permitting processes.
INIS submitted a license application to the U.S. Nuclear Regulatory Commission (NRC) in December 2009 for the construction of its planned depleted uranium de-conversion facility, and has been working with the NRC staff as they progress through their review process.
Steve T. Laflin, President and CEO of International Isotopes Inc. said, “We are very pleased with the quality of the license application and the progress the NRC team has made reviewing this application. While we remain confident we will be able to support the completion of the NRC review in a timely fashion, we recognize the considerable recent experience URENCO USA has had with its successful NRC licensing and State of New Mexico permitting, and we have entered into a consulting agreement with URENCO USA in order to take full benefit from their experience.”
Under the terms of the agreement, URENCO USA will perform a detailed review of the INIS Integrated Safety Analysis (ISA) that was submitted to the NRC as part of the licensing process and work with INIS in the preparation of the State of New Mexico permits.
Steve Laflin went on to note that, “We believe URENCO USA’s experience and expertise in licensing and permitting will provide us with an opportunity to lower our costs and help us avoid possible schedule delays related to licensing issues during the construction phase of this ‘green technology’ project. This agreement gives us an additional level of confidence in our ability to complete our required licensing in a timely fashion and contain our future operating costs related to licensing to the greatest extent practical.”
Gregory Smith, President and CEO of URENCO USA, noted the agreement is a natural product of his company’s experience and its support for INIS’s decision to locate in Lea County’s EnergyPlex. “We are pleased to apply our experience to assist INIS through NRC licensing and New Mexico’s permitting processes so it can enjoy the many benefits of operating in a state that values nuclear energy.”
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 quality of the NRC license application, NRC license review process, receipt of a license for the facility in a timely fashion, and the Company’s ability to benefit from lessons learned to reduce schedule and cost impacts related to the licenses and permits. 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, 2009. 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 International Isotopes, Inc. undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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SOURCE International Isotopes Inc.