Despite recently canceling plans for a public offering of common stock, International Isotopes, Inc. says it will not slow development of its plans to build a depleted uranium de-conversion facility.
The proposed facility would use the company's patented Fluorine Extraction Process to safely de-convert depleted uranium to produce a range of products. International Isotopes claims their process is environmentally friendly and that when constructed, their facility will be the first of its kind in the United States.
In the wake of the Japanese nuclear crisis the company maintains its optimism about the future of the uranium sector and will continue to raise funds to complete construction.
"International Isotopes remains confident in our business plan and undeterred in our efforts. Our progress continues unabated on our licensing, permitting, and design activities. We believe that nuclear power will continue to play an important role in power production," said Steve T. Laflin, International Isotopes President and CEO.
He added, "As the only planned 'green' environmentally friendly option for commercial depleted uranium in the United States we are optimistic about our future business."
Read press release at International Isotopes: INIS Green Technology Depleted Uranium Project Remains on Course [pdf]
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