Press Releases For Month: December 2020
US Space Force and NASA Looking to Privatize Nuclear Spacecraft Production

US Space Force and NASA Looking to
Privatize Nuclear Spacecraft Production

LOS ANGELES, CA / ACCESSWIRE / December 7, 2020, / US Nuclear (OTCQB: UCLE) is the prime contractor to build MIFTI’s fusion generators, which could be used in the relatively near future to power the propulsion systems for space travel and provide plentiful, low-cost, clean energy for the earth and other planetary bases once our astronauts get to their destination, be it the moon, Mars, Saturn or beyond. Chemical powered rockets opened the door to space travel, but are still far too slow and heavy even to travel to distant planets within our solar system, let alone travel to other stars. Accordingly, NASA is now looking for nuclear-powered rockets that can propel a space vessel at speeds close to the speed of light and thermonuclear power plants on the moon and Mars, as these are the next steps towards space exploration and colonization.

The US Energy Secretary, Dan Brouillette, recently said, “If we want to engage in outer space, or deep space as we call it, we have to rely upon nuclear fuels to get us there… that will allow us to get to Mars and back on ‘one tank of gas’.” This is made possible by the large energy density ratio which makes the fuel weight for chemical fuels ten million times higher than the fuel that powers the fusion drive. NASA is now relying on private companies to build spaceships: big companies like Boeing, but more and more on high-tech startups such as Elon Musk’s Space-X, Jeff Bezos’s Blue Origin, and Richard Branson’s Virgin Atlantic.

While nuclear fission has been considered as a basis for the next generation of rocket engines, the fuel used for fission is enriched uranium, which is scarce, costly, unstable, and hazardous. On the other hand, thermonuclear fusion uses a clean, low-cost isotope of hydrogen from ordinary seawater, and one gallon of this seawater extraction yields about the same amount of energy as 300 gallons of gasoline.

NASA is also currently seeking out industry partners to help establish nuclear fission power plants on the moon and Mars to produce large amounts of electrical energy, which will allow the creation of manned outposts in space. These fission power plants will be built and tested on Earth so that minimal assembly is required on the moon. Fusion power generators, once available, will be much more ideal for this application as they have a significantly smaller footprint and use a light, low-cost, and safe fuel that produces several times more energy with no highly radioactive fission byproducts.

Popular Mechanics recently published an article about a fusion-powered spaceship that is being developed that could travel to Saturn in just two years: https://www.popularmechanics.com/science/energy/a34437026/direct-fusion-drive-interstellar-travel-saturn-titan/.

Dr. Hafiz Rahman, MIFTI-MIFTEC President, and Chief Scientist commented that “There is no longer any question about fusion energy having far greater energy density than fission nuclear power. Fusion uses a very light, abundant, low-cost, and safe fuel while fission uses a very heavy fuel that is scarce, expensive, and hazardous.” MIFTI has already achieved “proof of concept” with their successful test regimen at the University of Nevada, Reno National Terawatt Facility where they generated a historic neutron flux of 1010 neutrons per pulse using their breakthrough fusion generator. All that remains now is to complete relatively small finance round to finalize the design and produce the next iteration of their fusion generator. Within an estimated 2 years from the close of financing, the first working fusion generator will be produced and available to power our ships to light-speed and power the global electric power grid and beyond. Clean, low-cost fusion energy is clearly within sight for the first time in history.

US Nuclear is the strategic partner, prime contractor, and investor in MIFTI-MIFTEC, owning 10% of MIFTEC and exclusive manufacturing and sales rights for the medical isotope generators in North America and Asia, and smaller percentage ownership in MIFTI.

 

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About US Nuclear Corp.

Originally founded as a spin-off of the Manhattan project in 1946, US Nuclear is a premier manufacturer of hazmat detection equipment, including UAV, mounted radiation, and chemical detection platforms. US Nuclear sales both domestically and internationally and customers include government and military agencies, homeland security, scientific and national laboratories, nuclear power plants, nuclear research facilities, universities, hospitals, and many more.

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. (UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Rachel Boulds, Chief Financial Officer
(818) 883 7043
Email: info@usnuclearcorp.com

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US Nuclear Corp. Announces Third Quarter 2020 Results

US Nuclear Corp. Announces Third Quarter 2020 Results

Los Angeles, CA. December 1, 2020 – US Nuclear Corp. (OTC: UCLE), a leading manufacturer of advanced radiation, chemical, and biological detection and UAV instrumentation, recently announced the financial results for the third quarter ended September 30, 2020.

  • Sales for the three months ended September 30, 2020,  were $484,318 compared to $659,325 for the same period in 2019
  • Decrease in sales due to the impact of COVID-19 on the company and customers
  • Employee work hours reduced by half to help mitigate COVID-19 exposure and transmission, in addition to 14-day quarantine periods for employees who may have been exposed
  • Selling, general, and administrative expense were $1,021,507 compared to $1,729,246 for the same period in 2019, the decrease of $707,739 or 40.9% was due to careful money management and lower stock-based compensation
  • Stock-based compensation was $542,560 for the three months ended September 30, 2020, compared to $1,150,321 during the same period in 2019
  • Net loss of $850,386 due to impact of COVID-19
  • $309,632 in accounts receivable, $484,012 in cash, and $1,132,000 in backlogged orders

Robert Goldstein, CEO of US Nuclear Corp., commented:

“Despite many challenges imposed by COVID-19, we managed to have a safe and productive third quarter.  The temporary closure of one of our operating divisions reduced and staggered worker hours, and 14-day self-quarantine periods have fortunately proved successful in ensuring all our workers are safe and COVID-19 free, and while these factors have led to a temporary slowdown in sales and production, the safety of our employees and their families is our highest priority.

With the extra support of new and talented sales staff, we booked several excellent orders in Q2 and Q3 which will help keep us busy as we progress into Q4 and 2021.  Compared to the average sales revenue for Q1 and Q2, revenue for Q3 is increasing as we recover and come back to regular production levels.  With a large order backlog and a healthy workforce, we project a strong year ahead, and are also excited to announce new developments from our investments in MIFTEC/MIFTI (fusion power and medical isotopes) and Grapheton (neurotechnology and bioelectronics).”

 

 

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About US Nuclear Corp.

Originally founded as a spin-off of the Manhattan project in 1946, US Nuclear is a premier manufacturer of hazmat detection equipment, including UAV, mounted radiation, and chemical detection platforms. US Nuclear sales both domestically and internationally and customers include government and military agencies, homeland security, scientific and national laboratories, nuclear power plants, nuclear research facilities, universities, hospitals, and many more.

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. (UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Rachel Boulds, Chief Financial Officer
(818) 883 7043
Email: info@usnuclearcorp.com

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