VANCOUVER, BC – July 9th, 2013 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX: IAALF) (“IBC” or the “Company”)
reports that the Massachusetts Institute of Technology (“MIT”) has
completed its initial review and delivered a fuel performance report
validating the feasibility of IBC’s patented beryllium oxide (“BeO”)
nuclear fuel technology combined with Ceramic Tubular Products, LLC
(“CTP”) silicon carbide cladding. As reported in June 2012, IBC entered into a sponsored research agreement with MIT to analyze the performance of the BeO enhanced fuel and how it would perform with the addition of silicon carbide ("SiC) cladding.
IBC’s
partnerships with CTP and MIT regarding a SiC based ceramic composite
cladding complement IBC’s ongoing nuclear fuel R&D being conducted
at Purdue and Texas A&M universities. The
fuel performance report validates the characteristics of the fuel
technology and further demonstrates how IBC’s BeO enhanced fuel,
combined with CTP’s SiC cladding, could result in reduced fuel operating
temperature and improve fuel operating characteristics leading to a
safer and more accident tolerant fuel.
As
a result of recent events in the nuclear industry, especially the well
known issues at Fukushima in 2011, industry officials and governments
are developing alternative strategies and increasingly reviewing the
safety benefits of accident tolerant fuels. Because of this increasing
industry awareness, the Company is in discussions with a number of
potential nuclear industry partners, including Japanese fuel cycle
suppliers, to explore and discuss the next phase of R&D including
irradiation requirements and testing of the fuel in test reactors.
“We
are very encouraged with the conclusions of the MIT fuel performance
report about the beneficial characteristics and capability of the
enhanced BeO fuel in combination with the SiC cladding technology”, said Jim
Malone, IBC’s Vice President of Nuclear Fuel. “IBC is working
diligently with Purdue, Texas A&M, CTP and and other industry
participants to take the next step of a full irradiation trial in a test
reactor to further understand and evaluate the advantages of BeO
enhanced fuel as a next generation accident tolerant fuel.”
The IBC sponsored research at MIT is led by Dr. Mujid Kazimi, the MIT Tokyo Electric Power Company (“TEPCO”) Professor in Nuclear Engineering. Dr. Kazimi is also an MIT Professor of Mechanical Engineering and the Director of the Center for Advanced Nuclear Energy Systems (“CANES”).
Dr. Kazimi is an expert on fuel performance, safety and power density
with a substantial body of peer-reviewed publications as well as
numerous academic awards and nuclear industry honors. In addition to his
MIT responsibilities, Dr. Kazimi is also a member of the Nuclear Energy
Advisory Committee at the US Department of Energy.
As
previously reported, IBC has extended its research agreements with
Purdue and Texas A&M, to advance its BeO nuclear fuels R&D until
December 2013. IBC’s nuclear fuel program is focused on developing an
accident tolerant high thermal conductivity BeO
nuclear fuel for both current and future nuclear power reactors that is
more efficient and safer than existing nuclear fuels. The project’s
objective is to commercialize the intellectual property and to position
IBC as an essential part of the nuclear industry’s supply chain.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products
serving a variety of sectors including aerospace, automotive,
telecommunications and a range of industrial applications. IBC has 86
employees and production facilities in Indiana, Massachusetts,
Pennsylvania and Missouri. IBC is creating a dynamic global advanced
alloys company. IBC’s common shares are traded on the TSX Venture
Exchange under the symbol “IB” and the OTCQX under the symbol “IAALF”.
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email: itootill@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
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