GMTech (PK) (USOTC:GMTH)
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Global Matrechs, Inc. http://www.globalmatrechs.com
(OTCBB: GMTH) reports on developments and market opportunities for
NuCap(TM), a family of advanced materials for nuclear and hazardous
waste containment.
NuCap(TM) is a material highly resistant to radiation and
corrosion resistant material. It has been engineered to resolve the
tasks of the nuclear waste industry that cannot be solved reliably and
economically by currently available technologies in encapsulation of
nuclear and hazardous wastes. NuCap(TM) applications range from
on-site stabilization, D & D and containment and encapsulation to
transportation and final storage and disposal. NuCap(TM) can also
assist in resolving the special challenges faced by operating reactors
in nuclear power plants and research facilities.
According to the U.S. Energy Information Agency, a total of
47,023.4 metric tons of spent uranium was stored from 1968 to 2002.
This can be referenced at
www.cnie.org/nle/crsreports/04dec/RS22001.pdf. The U.S. Department of
Energy spends an estimated $4 billion annually for the restoration and
management of sites contaminated by nuclear materials as stated in
http://commdocs.house.gov/committees/science/hsy72106.000/hsy72106_0.h
tm (Due to its length, this URL may need to be copied/pasted into your
Internet browser's address field. Remove the extra space if one
exists.). As the United States government revises its guidelines for
handling nuclear wastes, aging power plants stand to gain new life and
value.
Ron Hagen, a nuclear energy analyst with the U.S. Department of
Energy discussed the market and its developments: "It's a problem that
a lot of people want to handle. Basically, there's been a lot of
concern as to whether the spent fuel pools are terrorism targets."
The market is open to forecasting, but no one has ordered or built
a new nuclear power plant in over 20 years. There are 104 commercial
nuclear generating units licensed to operate in the United States.
But, while nuclear generation has risen to record levels, nuclear
capacity has barely changed in more than a decade.
Hagen said the U.S. government has made changes in how nuclear
wastes are handled at the intermediate-time stage. "Primarily, it's
because of the failure of Yucca Mountain to show up." (Yucca Mountain,
in Nevada, for years has been designated as the nation's sole
repository of nuclear wastes, but legal challenges, cost overruns and
political and environmental opposition have stalled it since the late
1990s.)
"And that means the movement of portions of the waste has gone
from a question of racking in the spent pools to the idea of how do
you do dry storage. The character of the waste is different. Almost
every site in the U.S. is going toward dry storage. The administration
is also rethinking how they want to handle waste. There's a lot of
talk lately about switching from handling waste to finding different
kinds of reactors to handle them, but that won't come about for a long
time.
"Intermediate storage is an issue as the ponds fill up. And how do
you handle that? Pools have been around for a long time and it's
basically replacing the pools by an intermediate thing."
Radioactive waste is currently stored in steel-lined concrete
pools at power plant sites. The pools are considered safe for storage
for about 100 years.
A more challenging issue is leaking storage drums. NuCap(TM) can
be considered as an indispensable product to be used for
immobilization of the waste inside and lining for repackaging of these
drums - The product compliments the existing techniques with leaky
drums filled with mixed or transuranic wastes. This problem is present
at every nuclear waste site and amounts to many tens of thousands of
drums since radioactive waste was originally stored in either carbon
steel or plastic drums. Due to the aging of the drums coupled with the
corrosive effect of the stored materials, these drums have already
started leaking or may start leaking in the future.
NuCap(TM) exhibits long-term durability combined with the
convenience of field application and can be used for fixing leaks in
storage drums, over-packing the drums and immobilizing the stored
materials whether wet or dry, thereby assuring safe transportation and
long-term storage.
The company has shipped sample orders to Finland, Germany and
Richland, WA (Hanford). Michael Sheppard, President of Global
Matrechs, Inc. stated "It is becoming very encouraging to see all the
interest we are receiving on NuCap(TM). We hope that all this interest
will continue to grow into full-scale contracts."
More Info on NuCap(TM):
NuCap(TM) is available as a coating or sealing agent with varying
viscosity NuCap(TM) properties are easily customized to meet customer
requirements and constraints. Each formulation of NuCap(TM) has
completed performance testing conducted by independent laboratories
certified by the U.S. Department of Energy. Global Matrechs also
provides the necessary technical support for the successful
application of NuCap.
About Global Matrechs: www.globalmatrechs.com
Since the sale of substantially all of the assets of the company's
hosting and website maintenance business to Tulix, Global Matrechs has
operated its licensed technologies business. Through its licensed
technologies business, Global Matrechs seeks to convert the licenses
it has acquired in emerging technologies in the nuclear energy,
environmental and chemical industries into manufactured products
primarily through sub-licenses of those technologies to manufacturers.
"Forward-Looking Statements"
Investors are cautioned that certain statements contained in this
document, as well as other statements in periodic press releases and
some oral statements of Global Matrechs, Inc. officials during
presentations, are "forward-looking" statements within the meaning of
the Private Securities Litigation Reform Act of 1995 (the "Act").
Forward-looking statements include statements which are predictive
in nature, which depend upon or refer to future events or conditions,
or which include words such as "expects," "anticipates," "intends,"
"plans," "believes," "estimates," "hopes," "seeks," or similar
expressions. In addition, any statements concerning future financial
performance (including future revenues, earnings or growth rates),
ongoing business strategies or prospects, and possible future actions,
which may be provided by management, are also forward-looking
statements as defined by the Act.
Some of the factors that could significantly impact these
forward-looking statements in this press release include, but are not
limited to: insufficient cash flow to continue to fund the development
and marketing of the Company's products and technologies; the failure
of the Company's products and technologies to become commercially
marketable; the loss of key personnel; changes in financial markets
and general economic conditions; and, disputes as to the Company's
intellectual property rights, including the Company's rights to the
technologies that it licenses from Eurotech, Ltd. Forward-looking
statements are based upon current expectations and projections about
future events and are subject to risks, uncertainties, and assumptions
about Global Matrechs, its licenses, products, economic and market
factors and the sectors in which Global Matrechs does business, among
other things. These statements are not guarantees of future
performance and Global Matrechs has no specific intention to update
these statements. More detailed information about those factors is
contained in Global Matrechs's filings with the Securities and
Exchange Commission.