US Nuclear’s Overhoff Delivers the Goods to U.S. DOE

Rhea-AI Summary

US Nuclear's Overhoff division is thriving with increasing sales revenue and high demand for tritium monitors. The company has delivered a significant portion of a DOE contract and expects to complete the rest soon. Overhoff's superior products and market presence position them as a leader in the industry.

Positive

• US Nuclear's Overhoff division has delivered 58% of a $421,500 purchase contract with U.S. DOE.
• Gross sales revenue for Overhoff has been steadily increasing over the past 3 years: 2021: $1,198,420, 2022: $1,469,223, 2023: $1,670,195.
• The demand for tritium monitors is surging, with Overhoff being a key player in the market.
• Overhoff's products are known for their robustness, sensitivity, dependability, and advanced features compared to competitors.
• The company has a strong order backlog of over $900,000 and is actively pursuing new opportunities through RFQs and tenders.

Negative

• None.

LOS ANGELES, CA, Feb. 27, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – US Nuclear’s (OTC-QB: UCLE) Overhoff division has now delivered 58% of a recent $421,500 purchase contract with U.S. DOE, and expects to complete the remainder by the end of the first quarter 2024.

Overhoff’s gross sales revenue has been steadily increasing each year for the past 3 years (2021: $1,198,420 / 2022: $1,469,223 / 2023: $1,670,195) and this trend is only expected to accelerate with the surging demand for tritium monitors.

The need for high-quality tritium monitoring equipment has never been bigger and increases every day.  Needed by every nuclear power plant, almost every one of the 17 U.S. national labs plus international labs, and every fusion start-up, big or small in all the developed nations, US Nuclear’s Overhoff tritium monitors are in high demand.  Overhoff is in full-gear delivering orders and driving revenue.

US Nuclear’s Overhoff division is the world’s leading tritium monitoring, manufacturer and business is booming. Which is not surprising since Overhoff builds products that are at the same time, more robust, sensitive, dependable, better designed, and available with a much wider range of features and capabilities than competitors.

Tritium, a radioactive isotope of hydrogen, is commonly used in various industrial processes, including nuclear power generation, research, and manufacturing. While tritium plays a crucial role in these applications, its presence requires vigilant monitoring to ensure safety and regulatory compliance.

Overhoff receives both small and large-scale orders for tritium monitoring equipment depending on the scope of the project.  An example is the DOE contract mentioned above.

Overhoff currently has a robust order backlog of more than $900,000 and has been receiving a large influx of requests for quote (RFQs) as well as bidding on a multitude of new tenders.  Through strategic partnerships, market analysis, and targeted campaigns, Overhoff will continue to ramp up tritium monitor sales revenue and deliver the goods.

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
Michael Hastings, Chief Financial Officer
Ph: (818) 883 7043
Email: info@usnuclearcorp.com
http://usnuclearcorp.com
https://overhoff.com/
https://tech-associates.com/

FAQ

What percentage of the DOE contract has US Nuclear's Overhoff division delivered?

US Nuclear's Overhoff division has delivered 58% of the DOE contract.

How has Overhoff's sales revenue trended over the past 3 years?

Overhoff's sales revenue has increased steadily each year: 2021: $1,198,420, 2022: $1,469,223, 2023: $1,670,195.

What is driving the demand for tritium monitors?

The surging demand for tritium monitors is being fueled by the need for high-quality monitoring equipment in nuclear power plants, national labs, and fusion start-ups.

What sets Overhoff's tritium monitors apart from competitors?

Overhoff's tritium monitors are known for their robustness, sensitivity, dependability, and advanced features, making them stand out in the market.

What is the current order backlog for Overhoff?

Overhoff currently has a robust order backlog of over $900,000.

How is Overhoff pursuing new business opportunities?

Overhoff is actively engaging in requests for quote (RFQs) and bidding on new tenders to expand its market presence.