Jan 3 2010
International Isotopes Inc. (OTC Bulletin Board: INIS) announces it has submitted its license application to the U. S. Nuclear Regulatory Commission (NRC) for its depleted uranium de-conversion and fluorine extraction processing facility.
Steve T. Laflin, President and CEO, stated, "The submission of this license application represents another significant accomplishment for the Company and is the most recent milestone in our continued progress towards construction of this unique, commercial, environmentally friendly nuclear facility. The project is on target and on schedule."
In March 2009, the Company announced the selection of a 640-acre building site for the facility just west of Hobbs, New Mexico. In June the Company announced completion of the Conceptual Design Report (CDR) for the project.
Laflin continued, "We are very pleased with the quality and pace of licensing and design work on this project by Company personnel and our licensing and engineering subcontractor, Advanced Process Technology Systems L.L.C. (APTS). APTS assembled an excellent team of personnel highly experienced in many important aspects of licensing, such as Integrated Safety Analysis. The extensive experience of that team has helped to produce a high quality license application document."
The NRC license review is expected to take approximately 18 to 24 months to complete. The Company plans to select a design and build contractor next year and may initiate some pre-license construction activities at the Hobbs site in 2010, subject to NRC approval. The project schedule envisages completion of construction by the end of 2012.
SOURCE International Isotopes Inc.