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Abstract
(Marketwired - Oct. 31, 2013) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF) ("IBC" or the "Company") is pleased to announce that it has signed a memorandum of understanding (the "MOU") with Global Nuclear Fuel - Americas, LLC ("GNF-A") and Ceramic Tubular Products, LLC ("CTP") to explore opportunities to collaborate on nuclear fuel research. The MOU was signed following meetings at the recent American Nuclear Society's annual Top Fuels conference where IBC presented recent R&D developments on its beryllium oxide ("BeO") nuclear fuel focused on developing a safer and more accident tolerant nuclear fuel.
IBC recently reported that the Massachusetts Institute of Technology ("MIT") completed a fuel performance study supporting IBC's BeO nuclear fuel technology combined with CTP's silicon carbide cladding. The MIT report validates how IBC's BeO enhanced fuel and CTP's SiC cladding could reduce fuel operating temperatures and improve fuel operating characteristics leading to a safer and more accident tolerant fuel. The report, along with other recent findings from Texas A&M and Purdue Universities, was presented at the Top Fuels conference.
"We are very pleased to have signed this MOU with IBC and CTP which could have significant fuel cycle benefits for plant operators," said Chet Akiri, COO of GNF-A. "The potential benefits of the improved thermal conductivity fuel, combined with CTP's cladding technology, include lower fuel operating temperatures that deliver the same energy to the reactor system. GNF is committed," continued Akiri, "to pursuing new technologies that will improve fuel performance and result in important benefits for our utility customers."