US Nuclear Signs Agreement With China National Nuclear Corporation's Subsidiary
Los Angeles, CA - (NewMediaWire) - January 21, 2020 - US Nuclear Corp. (OTC: UCLE) has signed a “Cooperation Agreement” with Dalian Zhonghe Scientific and Technological Development Co., a subsidiary of China National Nuclear Corporation (CNNC), to design, build, and mass produce radiation detectors and systems for the growing China nuclear market.
China is the world’s major builder of nuclear power plants, with 46 in operation, 15 under construction, and around 200 planned. Each nuclear power plant requires about $8 million worth of radiation detection equipment. Currently, around 80% of that radiation detection equipment is imported into China at a steep cost. Importing is not favorable due to the high cost and because functionality has been customized for the country of origin and does not always fit local procedures, regulations, and language. US Nuclear aims to solve this problem.
Under this new cooperation agreement, US Nuclear will work with Dalian Zhonghe to design the perfect radiation detection systems for use in Chinese Nuclear Power Plants. These systems are planned to be built at a factory in China to be cost-competitive. Furthermore, this factory will be a new trading partner for US Nuclear, buying sub-assemblies and helping with any required exports to China.
CNNC is the most important player in China’s applied nuclear technology field and is also the earliest company that can design, engineer, and manufacture such products. Furthermore, CNNC is affiliated with China Isotope and Radiation Corporation (CIRC), the biggest nuclear medicine manufacturer in China. The CIRC can be an excellent customer for US Nuclear and MIFTEC’s medical isotope generator business.
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This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Investors may find additional information regarding US Nuclear Corp. at the SEC website at http://www.sec.gov, or the company’s website at www.usnuclearcorp.com
US Nuclear Corp. (OTCBB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Rachel Boulds, Chief Financial Officer
(818) 883 7043