VANCOUVER, BC — February 3, 2011 — IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”) has successfully completed the current phase of its beryllium oxide nuclear fuels research and development project with Purdue University (Purdue) and Texas Engineering Experiment Station (TEES), a member institution of The Texas A&M University System. The initial testing shows UO2-BeO fuel to be longer lasting, more efficient and that it provides a larger safety margin than current nuclear fuels.
The R&D project was announced in August 2008 with the objective of advancing the universities’ existing nuclear fuels research program, and developing a beryllium oxide enhanced nuclear fuel, for commercial use in both current and future nuclear power reactors.
“This collaborative nuclear fuels R&D work with Purdue and TEES is developing technology that could positively affect both the nuclear industry and consumers of alternative energy,” said Anthony Dutton, President and CEO of IBC Advanced Alloys. “This most recent phase of the work confirms our belief that beryllium oxide enhanced fuel will advance global nuclear fuels technology and, as a result, considerably increase demand for beryllium as a rare metal commodity.”
The initial testing included nuclear engineering simulations and thermal modeling which successfully demonstrated the potential benefits of this fuel in Light Water Reactor systems. The experimental and computational work carried out to date provides a solid understanding of unirradiated UO2-BeO behaviour and a clear path for additional work. Preliminary processing methods have been experimentally demonstrated to produce materials for validation measurements; this work will continue in the next phase along with an expanded research mandate to further validate the technology and complement the work to date.
In order to market enhanced nuclear fuel for commercial use, it will be necessary to undertake systematic design analysis, complete prototype irradiation tests, obtain performance data, and undertake high quality fabrication, among other steps. These steps will require the assistance of industrial collaborators.
“Our recent research has yielded important advances in the technology with potentially significant value to the industry. Beryllium oxide-enhanced nuclear fuel research findings were presented to the September 2010 Top Fuels Light Water Reactor Fuel Performance Meeting which was hosted by the American Nuclear Society in Orlando, Florida,” continued Dutton, “Further, Purdue and IBC have filed patents to protect the IP covering the research. IBC is currently considering suitable industry partners for the next phase of testing and development, and is looking forward to continuing its work with Purdue and TEES for the benefit of industry and IBC shareholders.”
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 industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC’s common shares are traded on the TSX Venture Exchange under the symbol “IB”. See IBC on Facebook.
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.
Legal Notice Regarding Forward Looking Statements
This disclosure contains certain forward-looking statements including expectations about future operating results and the benefits of our nuclear fuels research program 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, 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 operations, research and development, and mineral exploration, 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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