Huge Push for Fusion Power to Generate Surge in Business for US Nuclear’s Tritium Monitoring Equipment

Rhea-AI Summary

US Nuclear (OTC-QB: UCLE) is poised for growth as the fusion energy sector expands. Their subsidiary, Overhoff Technology, leads in tritium monitoring equipment, essential for fusion power reactors. Significant investments are noted, with US funding at $4.7 billion in 2022 and a 139% rise in private investments to $4.8 billion. Overhoff's sales target national labs, military, nuclear plants, and pharmaceuticals, showing diverse market presence. Countries like the US, UK, and Japan heavily invest in fusion, with the EU allocating €5.61 billion. Overhoff's tritium monitors will support global fusion projects, underscoring their importance in the clean energy transition.

Positive

• Overhoff Technology is the leading manufacturer of tritium monitoring equipment.
• Fusion energy sector investments reached $4.7 billion publicly and $4.8 billion privately in 2022.
• Strong demand from diverse sectors: national labs, military, and pharmaceuticals.

Negative

• None.

LOS ANGELES, CA, Feb. 14, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- As the dream for fusion energy slowly becomes reality, business and investment in this multi-billion dollar sector is booming, which is great news for US Nuclear’s (OTC-QB: UCLE) tritium monitoring branch. Tritium is the main fuel used in fusion power reactors, and as countries around the world invest in fusion power generation, there is a major increase in the need for tritium monitoring instrumentation. Fortunately for US Nuclear, their Overhoff Technology subsidiary is the world’s leading tritium monitor manufacturer, supplying the most dependable tritium equipment, including a number of vital products that no other suppliers can.

In recent years, a large percentage of Overhoff’s sales have been to:

• National labs for research and national defense
• Military for the Nuclear Navy and homeland security
• Nuclear power plants, especially heavy-water types, for reactor control and facility monitoring
• Industrial manufacturing (exit signs, emergency lighting, watch dials, gun sights, etc.)
• Pharmaceutical companies for developing and testing new drugs
  

Now, Overhoff sees a surge of new business stemming from the fusion power industry. Investment in the fusion power sector is rapidly growing, and according to the Global Fusion Industry survey of 2022, public funding for the year was $4.7 billion in the US, with private investments rising 139% from 2021 to $4.8 billion. There has also been major progress in the field, with the National Ignition Facility achieving a historic net gain of energy just this past December.

While Overhoff sales to the US, Canada, South Korea, and east Asia have always been, and continue to be very strong, the company is eager to increase sales in additional countries that are investing in fusion power. The US, UK, EU, and Japan are all investing very heavily in fusion power. China and Canada are also among the most advanced in terms of fusion startups and research projects. At the center there is ITER of course, which has received billions in funding from countries all over the world, with the EU alone allocating €5.61 billion for the period of 2021-2027.

Overhoff manufactures a wide variety of tritium monitoring instrumentation that will be pivotal to all these fusion energy projects, including portable and fixed tritium air monitors, in-line process monitors, stack monitors, air samplers, and special ionization chambers-electrometers.

Fusion is considered the holy grail of clean energy, and as we’ve seen above, it is quickly gaining more popularity and funding as a green, dependable source of base power. US Nuclear is looking forward to seeing the growth and progress of this industry and being a part of it by providing the best tritium monitoring instrumentation on the market.

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. (OTC-QB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Richard Landry, Chief Financial Officer
(818) 883 7043
Email: info@usnuclearcorp.com
http://usnuclearcorp.com
http://tech-associates.com
http://overhoff.com

FAQ

What is US Nuclear's stock symbol?

US Nuclear's stock symbol is UCLE.

How much public funding was invested in fusion energy in 2022?

Public funding for fusion energy in 2022 was $4.7 billion in the US.

What percentage increase did private investments in fusion energy experience from 2021 to 2022?

Private investments in fusion energy rose by 139% from 2021 to 2022.

What is the role of Overhoff Technology in the fusion energy industry?

Overhoff Technology manufactures tritium monitoring equipment crucial for fusion power reactors.

Which countries are investing heavily in fusion energy?

Countries like the US, UK, EU, Japan, China, and Canada are heavily investing in fusion energy.