US Nuclear and Partners Shortlisted for Next Phase in ‘Charge On’ Electric Truck Innovation Challenge

Rhea-AI Summary

US Nuclear (OTCQB: UCLE) has been shortlisted as one of 21 companies from a pool of 350 in the global Charge On Innovation Challenge, aimed at electrifying ultra-class mining trucks. This initiative involves major sponsors like BHP and RioTinto, focusing on reducing diesel consumption and emissions. US Nuclear, along with its partners Grapheton and Solar System Resources, is recognized for its unique solutions using organic vapor phase deposition and advanced supercapacitor technology. The next phase entails high-pressure pitching sessions to present innovative solutions.

Positive

• Shortlisted among 21 out of 350 companies in the prestigious Charge On Innovation Challenge.
• Collaborating with prominent partners like Grapheton and Solar System Resources.
• Focus on innovative solutions to electrify mining trucks, potentially leading to future contracts.

Negative

• None.

Los Angeles, CA, Sept. 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- US Nuclear (OTCQB: UCLE) and partners (Grapheton, Solar System Resources, and Four Point) were one of 21 (out of 350) companies that have been shortlisted for the next phase in the Charge On Innovation Challenge, which is a global competition under the patronage of 17 mining companies from around the world, including BHP, RioTinto, and Vale.  The competition aims to electrify the largest trucks in the world, ultra-class mining trucks, to help reduce the consumption of diesel fuel and significantly cut harmful emissions.  It has already attracted massive global attention, with more than 350 vendors registering their interest from 21 countries, and more than 80 applications submitted from the best engineering companies in the world. 

Of the 80 applications submitted, 21 have been shortlisted to proceed to the next phase, which will comprise of a high-pressure pitch session followed by a deep dive into the innovative solutions.  US Nuclear and partners are honored to be among the 21 companies selected, and even though they are a small team compared to some of the other competitors, they offer a unique and competitive solution based on organic vapor phase deposition and Grapheton’s novel supercapacitor technology. 

A full list of the shortlisted companies:

3ME Technology, ABB, Altreonic-Kurt.energy, Ampcontrol / Tritium, Australian Turntables, BluVein, DB Engineering & Consulting with Echion Technologies, Farmboro Consulting, Hitachi Group, Infosys, Inverted Power Pty Ltd, IT & ES Industries, L&T Technology Services, Midwest Energy, Mitsui & Co. with Forsee Power and AVL, Saft, Shell Consortium, Siemens, Solar System Resources Corporation (including US Nuclear, Grapheton, and Four Point), Xiangtan Electric Manufacturing Group, *one company declined to be named

Sponsors:

BHP
RioTinto
Vale
Antofagasta Minerals, Barrick, Boliden, Citic Pacific Mining, Codelco, Evolution Mining, Freeport McMoRan, Gold Fields, Harmony, Minerals Resources, Newcrest Mining Limited, Oz Minerals, Roy Hill, South32, Syncrude, Teck, Thiess, Yancoal

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. (OTCQB: UCLE)

Robert I. Goldstein, President, CEO, and Chairman

Rachel Boulds, Chief Financial Officer

(818) 883 7043

Email: info@usnuclearcorp.com

FAQ

What is the significance of US Nuclear being shortlisted in the Charge On Innovation Challenge?

Being shortlisted highlights US Nuclear's innovative capabilities and positions it among leading engineering solutions in the mining industry.

Who are the sponsors of the Charge On Innovation Challenge?

The challenge is sponsored by major mining companies including BHP, RioTinto, and Vale, which enhances its credibility and potential impact.

What solutions is US Nuclear presenting in the Charge On Innovation Challenge?

US Nuclear is presenting solutions based on organic vapor phase deposition and Grapheton's supercapacitor technology aimed at electrifying large mining trucks.

How many companies applied for the Charge On Innovation Challenge?

More than 350 companies registered their interest, with 80 applications submitted for consideration.

What is the main goal of the Charge On Innovation Challenge?

The main goal is to electrify ultra-class mining trucks to reduce diesel consumption and lower harmful emissions.