US Nuclear Completes $256,626 Shipment to China, Signs New Agreement With CNNC Subsidiary

Article Stock Quotes (1)

FREE Breaking News Alerts from StreetInsider.com!

StreetInsider.com Top Tickers, 4/24/2024

1. TSLA
2. ENPH
3. TXN
4. SPOT
5. BA

6. V
7. META
8. IBM
9. KMB
10. FI

Get Alerts UCLE Hot Sheet

Price: $0.08 +14.29%

Join SI Premium – FREE

LOS ANGELES, CA, March 22, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – US Nuclear Corp. (OTCQB: UCLE) recently completed a shipment to China of USN’S popular tritium and carbon-14 air samplers as well as portable tritium monitors worth a total of $256,626.

Furthermore, as part of US Nuclear’s expansion into the Chinese market, US Nuclear signed a new “Cooperation Agreement” on March 1, 2021 with Dalian Zhonghe Scientific and Technological Development Co., a subsidiary of China National Nuclear Corporation (CNNC). Together, the companies will work to design the perfect instrumentation to outfit Chinese nuclear power plants. The instruments are planned to be built at a local factory in China to be cost-competitive and will be optimized for Chinese operators based on the local regulations and procedures. This can be a game changer since currently 80% of nuclear instruments purchased are imported into China at a high cost, and the functionality often does not fit local procedures, regulations, and language.

US Nuclear already has a local sales office in Beijing, China, and this new cooperation agreement with Dalian Zhonghe will help US Nuclear capture even more of the burgeoning market for nuclear power and radiation detection equipment in China.

The China National Nuclear Corporation (CNNC) controls most nuclear sector business including R&D, engineering design, uranium exploration and mining, enrichment, fuel fabrication, reprocessing, and waste disposal. It is also said to be the major investor in all nuclear plants in China.

China’s Nuclear Power Measurement Market

China is by far the world’s most active builder of nuclear power with plans to surpass the U.S. as the world’s top producer of nuclear energy by as early as 2030, and expects that nuclear power will account for about 10% of the country’s total electricity generation capacity by 2035 as the country shifts away from coal. China currently has 50 nuclear power plants in operation (48,659 MWe), 15 under construction (14,745 MWe), 39 planned (43,085 MWe), and 168 proposed. Each of these nuclear power plants going into operation requires about $10 million worth of radiation and detection equipment.

China National Nuclear Corporation (CNNC) designs and builds nuclear power plants and oversees all aspects of China’s civilian and military nuclear programs.

US Nuclear’s popular, high sensitivity air samplers are used to continuously collect tritium and carbon-14 from the air in sample collection vials over a period of time. After sample collection is complete, the vials are measured to determine the concentration of radionuclides collected based on the sampling time and flow rate. Air samplers are often used as compliance monitors to ensure that there are no harmful levels of radionuclides exposed to workers or released into the environment.

Safe Harbor Act

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

CONTACT:

US Nuclear Corp. (OTCQB: UCLE)Robert I. Goldstein, President, CEO, and Chairman Rachel Boulds, Chief Financial Officer(818) 883 7043Email: [email protected]

Attachment