VANCOUVER, BC, June 6, 2012. IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX: IAALF) (“IBC” or the “Company”) has entered into a sponsored research agreement with the Massachusetts Institute of Technology (“MIT”) to predict and analyze the performance of the IBC sponsored beryllium oxide (“BeO”) nuclear fuel technology and how it performs with the addition of silicon carbide cladding.
Under the terms of the agreement, the BeO enhanced fuel will be evaluated and analyzed with particular attention to the critical parameters of pellet clad interaction, peak and average fuel temperatures, fission gas release and fuel rod internal pressure. It is hoped this research will further demonstrate the commercial viability of a new combined fuel technology which has the potential to deliver significant fuel performance improvements and operational safety benefits to the nuclear industry.
“IBC Advanced Alloys is pleased to be advancing research in nuclear fuel performance by improving both the chemical composition of nuclear fuel, and now the external cladding,” said Anthony Dutton, President and CEO of IBC. “We believe MIT has the resources and experience essential to establishing BeO enhanced fuel as a viable technology capable of improving fuel performance, reliability and safety in nuclear reactors.”
The IBC sponsored research will be led by Dr. Mujid Kazimi, the MIT Tokyo Electric Power Company (“TEPCO”) Professor in Nuclear Engineering. Dr. Kazimi is also an MIT Professor of Mechanical Engineering and the Director of the Center for Advanced Nuclear Energy Systems (“CANES”). Dr. Kazimi is an expert on fuel performance, safety and power density with a substantial body of peer reviewed publications as well as numerous academic awards and nuclear industry honors. In addition to his MIT responsibilities, Dr. Kazimi is also a member of the Nuclear Energy Advisory Committee at the US Department of Energy.
Jim Malone, IBC’s Vice President of Nuclear Fuel, agreed that, “IBC’s sponsored R&D with MIT will boost our nuclear fuel program and allows our partners at Texas A&M University, Purdue and Global Nuclear Fuels (GNF) to further understand, evaluate and integrate the advantages of BeO enhanced fuel in combination with the cladding technology as a safe alternative in existing and future nuclear power reactors.”
IBC also sponsors research with Purdue University (“Purdue”) and Texas Engineering Experiment Station (“TEES”), operated by Texas A&M University, to advance its BeO nuclear fuels R&D. IBC’s nuclear fuel program is focused on developing a high thermal conductivity BeO nuclear fuel for both current and future nuclear power reactors that is more efficient and safer than existing nuclear fuels. The project’s objective is to commercialize the intellectual property and to position IBC as an essential part of the nuclear industry’s supply chain.
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 prospectiveberyllium properties in the western US covering approximately 7,640 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” and the OTCQX under the symbol “IAALF”.
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
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.
This disclosure contains certain forward-looking statements 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, limited availability of raw materials, 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 activities 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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