VANCOUVER, BC – July 10, 2012 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX: IAALF) (“IBC” or the “Company”) announces that its sponsored beryllium oxide (BeO) nuclear fuels research led by Purdue University (“Purdue”) and Texas Engineering Experiment Station (“TEES”), operated by Texas A&M University, has received an award from the American Nuclear Society (“ANS”).
IBC’s nuclear fuels research experts, including Dr. Sean McDeavitt representing Texas A&M and Dr. Alvin Solomon, Professor Emeritus at Purdue and member of IBC’s nuclear fuels advisory board, were selected at the ANS’s biennial awards to receive the 2010 Significant Contribution Award from the Materials Science and Technology Division of the ANS for the paper titled, Introducing a High Thermal Conductivity UO2-BeO Nuclear Fuel Concept.
IBC remains committed to its BeO enhanced nuclear fuel research with Purdue and Texas A&M University which is focused on developing a high thermal conductivity nuclear fuel for both current and future nuclear power reactors. The aim of the R&D is to develop a commercial application of the fuel that is more efficient and safer than existing nuclear fuels and also to increase downstream demand for beryllium oxide.
“I am honoured to receive this award from the American Nuclear Society,” said Dr. Sean McDeavitt, Texas A&M’s lead researcher. “It is gratifying to receive peer recognition and affirmation for the quality and direction of our nuclear fuels research. The whole team at Texas A&M and Purdue,” continued McDeavitt, “is looking forward to continuing our relationship with IBC as we advance this exciting technology to the next phase and hopefully closer to a commercial reality.”
“IBC is very proud of the research team’s contribution to developing this aspect of high thermal conductivity nuclear fuels technology and believe this recognition from their peers and the ANS is well deserved,” said Anthony Dutton, President and CEO of IBC. “IBC has a history of sponsoring strategic nuclear fuels research, and we will continue to work with experts from Purdue, Texas A&M and MIT to develop and advance this intellectual property and to hopefully deliver an improved, more reliable and safer nuclear fuel.”
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
Email: [email protected]
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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