VANCOUVER, BC. — February 9, 2009 – International Beryllium Corporation (TSX-V:IB) (“IBC” or the “Company”) is pleased to provide an update on its collaborative research with Purdue University to develop a new type of longer lasting, more efficient and safer beryllium oxide nuclear fuel. The objective of the research is to develop for commercial use an enhanced uranium oxide beryllium oxide nuclear fuel for both current and future nuclear power reactors.
To promote its research work, the Company and Texas A&M University, working jointly with Purdue’s School of Nuclear Engineering, recently attended a Light Water Reactor Sustainability (“LWRS”) workshop in Atlanta, Georgia. Representatives were present from the national labs in Argonne, Idaho, Oak Ridge, Sandia and several educational institutes including MIT, Texas A&M and the University of Florida. Also attending were major energy utilities including Duke Power and TVA as well as the leading fuel manufacturers, Westinghouse and AREVA
The purpose of the LWRS workshop was to draw individuals from across the nuclear spectrum together to present potential solutions for extending the service life of existing nuclear reactors. The conference focused specifically on how next-generation or modified nuclear fuels could contribute to a solution.
Dr. Sean McDeavitt of Texas A&M University presented information on uranium oxide – beryllium oxide (UO2 — BeO) dual oxide fuels to the attendees. The positives of the dual oxide fuel are that the BeO has a high probability of increasing the conductivity of the fuel by approximately 25%. The fuel is also being designed to power both current and next generation reactors and will be suitable for existing fuel cladding technology.
“We are very pleased with the progress of this joint research initiative” stated Ken Shasteen, IBC’s Technical Director and coordinator of IBC’s joint nuclear fuels research project. “Presenting at the LWRS was valuable, as all significant groups representing the nuclear power industry were in attendance and validated the premise that multi-oxide and BeO fuels will be the foundation of a more efficient, economically sound and safer nuclear power industry. We look forward to discussing our technology with the attending groups,” continued Shasteen, “as we work to develop a commercial UO2 – BeO nuclear fuel for the benefit of our shareholders, power consumers and the nuclear power industry.”
Existing work by Purdue nuclear engineers has shown that an advanced UO2 – BeO nuclear fuel could potentially save billions of dollars annually by lasting longer and burning more efficiently than conventional nuclear fuels while at the same time increasing demand for beryllium and beryllium oxide. In addition to the cost savings, an advanced UO2 – BeO nuclear fuel could also contribute significantly to the operational safety of both current and future nuclear reactors due to its superior thermal conductivity and associated decrease in risks of overheating or meltdown.
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.
To view all past news releases go here.