IDAHO FALLS, Idaho, April 8, 2013 /PRNewswire/ -- International Isotopes Inc. (OTC Bulletin Board: INIS) and Advanced Process Technology Systems, LLC (APTS) have announced that they have submitted a response to the U.S. Department of Energy's (DOE) request for Expression of Interest (EOI) for the operation of the Paducah Gaseous Diffusion Plant (PGDP) facilities and utilization of DOE's depleted uranium hexafluoride (UF 6). The proposal was provided in response to the DOE's February 7, 2013 issuance of a request for an Expression of Interest from industry for the PGDP facilities and uranium hexafluoride inventories.
INIS and APTS have executed an agreement to expand their relationship to form a new joint venture (NJV) to carry out this opportunity. In the response to the EOI, INIS and APTS have proposed to have the NJV operate a significant portion of the PGDP facilities utilizing some of the existing inventories of depleted uranium material. The NJV would plan to retain 600 to 700 employees for the operation of the PGDP and supporting facilities and believes that it would be able to operate the facility for a minimum of 5 years and perhaps several more years depending upon a number of economic and market conditions.
INIS cautions there is no indication that the DOE will accept or respond favorably to this proposal. The proposal is currently being reviewed and DOE has no obligation to accept ours, or any other, EOI proposal. There are a number of factors that could limit the ability of the NJV to obtain DOE's acceptance or operate the PGDP, including, but not limited to, obtaining adequate financing to support the proposal. INIS is making this announcement because there have been indications that information on the proposal has been disclosed by unknown sources and INIS wishes to make certain that all its investors have access to the same information. INIS and APTS are both very aware and sensitive to uranium market factors related to this opportunity and are confident those factors can be taken into consideration under the proposed business plan and production scenario for the PGDP.