VANCOUVER, BC — February 25, 2009 – International Beryllium Corporation (TSX-V: IB) (“IBC”) is pleased to announce that it has created the IBC Nuclear Fuels Advisory board and has appointed Dr. Alvin Solomon, Professor Emeritus of Nuclear Engineering at Purdue University, as the board’s first member. The mandate of the Nuclear Fuels Advisory board is to assist IBC in developing and implementing a long term strategic plan to commercialize the nuclear fuel technology currently being developed by Purdue and Texas A&M Universities in partnership with IBC.
IBC signed a collaborative research agreement with Purdue University in August 2007 to advance the university’s existing nuclear fuels research program and to develop a new type of beryllium oxide nuclear fuel that has higher thermal conductivity and is therefore potentially longer lasting, more efficient and safer than current urania-based nuclear fuels. The objective of the research is to commercially develop a nuclear fuel for optimal use in both current and future nuclear reactors.
Dr. Solomon is a highly respected international authority on nuclear fuels and the leading international expert on high thermal conductivity uranium oxide beryllium oxide (UO2 — BeO) nuclear fuels specifically. His academic career includes undergraduate and graduate degrees at the University of Illinois followed by a Ph.D. in Materials Science from Stanford University. After spending five years at Argonne National Laboratory on nuclear fuels research, he then joined the faculty of Nuclear Engineering at Purdue University where his pioneering work caught the attention of both the scientific community as well as the nuclear power industry as they endeavored to create a safer and more efficient nuclear fuel.
Dr. Solomon is widely published in a range of highly respected peer-reviewed scientific journals where his work has been acknowledged as having important economic and safely implications for the future of the nuclear industry. Over the course of his long and distinguished career, Dr. Solomon has been recognized for his achievements in nuclear materials developments and applications by being elected a Fellow of the American Ceramic Society and also being awarded, alongside Dr. Sean McDeavitt of Texas A&M, the “Best Paper of 1996” by the American Nuclear Society.
“I am delighted to be working with IBC and to support their nuclear fuels initiative,” said Dr. Solomon. “I strongly believe that an advanced UO2 — BeO high conductivity fuel could dramatically improve the safety of nuclear reactors as well as potentially save billions of dollars annually by running cooler, lasting longer and burning more efficiently than conventional nuclear fuels. Even though I spent most of my career in academia,” continued Dr. Solomon, “I am acutely aware that any nuclear fuels development is a long and involved collaborative effort, and I look forward to working with the nuclear industry and IBC to make UO2 — BeO fuel a commercial reality.”
“We at IBC are privileged to have the opportunity to work with Dr. Solomon and the Nuclear Fuels Advisory Board on this exciting and potentially transformational research into nuclear fuels,” said Anthony Dutton, President and CEO of IBC. “We fundamentally believe that high conductivity nuclear fuels are the way of the future and will assist with a more efficient, economically sound and safer nuclear power industry, both in the fuels processing area and in its utilization and eventual recycling. By working with Dr. Solomon and the nuclear community,” continued Dutton, “we aim to make UO2 — BeO fuels commercially accessible, and to enhance the value of our assets for our shareholders and the nuclear fuels industry.”
About International Beryllium Corporation
International Beryllium Corporation is a global exploration and development company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, oil and gas, defense, electronics and automotive. International Beryllium’s common shares are traded on the TSX Venture Exchange under the symbol IB.
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 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 and mineral exploration, therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. 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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