US Nuclear: Tritium Monitor Market Soars Due to Construction of $20+ Billion ITER Fusion Energy Project

Rhea-AI Summary

US Nuclear's Overhoff division is positioned to capitalize on the booming tritium monitoring market as the ITER tokamak construction nears completion. Tritium, vital for fusion energy and in short supply, is essential for ITER's operations alongside deuterium. This $20+ billion international project involves multiple countries, aiming for a sustainable power source. The company reports a significant backlog of orders from diverse sectors, including DOE national labs and pharmaceutical companies, indicating strong future demand for their monitoring instruments.

Positive

• Strong demand for tritium monitoring instrumentation as the ITER project develops.
• Large backlog of orders from diverse sectors including DOE national labs and nuclear power.
• Positioned to capture a significant market share in the tritium monitoring sector.

Negative

• None.

Los Angeles, CA, Oct. 06, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- As the construction of the huge ITER tokamak grows towards completion, the tritium monitoring market is soaring.  As the world leader in quality tritium monitoring instrumentation, US Nuclear’s (OTC: UCLE) Overhoff division is poised to capture a large portion of this business. 

The ITER fusion project seeks to develop a major new source of electric power to help supply the world’s fast-growing appetite for dependable, 24/7 electric power. Fusion is fueled by tritium and deuterium, which are both isotopes of hydrogen.  Tritium is in short supply and ITER will fully deplete the global inventory. ITER is a $20+ billion international scientific and engineering project jointly funded by the European Union, China, India, Japan, Russia, South Korea, and the United States.

TRITIUM USAGE
As a fuel source, tritium is required for ITER and for all other fusion energy projects, but it has many other uses as well.  Tritium is used as a radioactive tracer in biomedical and academic research, for producing urgently needed medical scanning isotopes Mo-99 and Tc-99m, designing and testing new pharmaceutical drugs, and providing vital lighting for remote airfields, exit signs, and gun sights.  Of course, tritium is also essential for maintaining a deteriorating US nuclear weapons stockpile.    

TRITIUM SUPPLY
Deuterium can be extracted from seawater relatively easily, but tritium is only produced significantly in nuclear reactors.  The current global inventory is only about 20 kilos!  Tritium is in short supply and ITER hopes to draw from the global inventory.  Supplies may be insufficient until eventually the fusion reaction is established and hopefully the tritium can be ‘bred’ within ITER. 

The Tennessee Valley Authority, Savannah River Site, and others are all gearing up for tritium production and recapitalization, which means that much more tritium monitoring instrumentation is needed right now and going forward.  US Nuclear’s Overhoff division is booming with business, with a large backlog of orders and many more in the pipeline.  Overhoff customers include: DOE national labs, nuclear power plants, pharmaceutical companies, and US/NATO air force and nuclear navies. 

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: UCLE)

Robert I. Goldstein, President, CEO, and Chairman

Rachel Boulds, Chief Financial Officer

(818) 883 7043

Email: info@usnuclearcorp.com

FAQ

What is US Nuclear's role in the tritium monitoring market?

US Nuclear's Overhoff division is a leader in tritium monitoring instrumentation, poised to capitalize on the growing demand due to the ITER project.

How is the ITER project expected to impact US Nuclear's business?

As the ITER project progresses, US Nuclear anticipates increased orders for tritium monitoring instruments, enhancing its revenue opportunities.

What challenges does the tritium supply present for fusion projects?

Tritium is in short supply globally, with current inventories around 20 kilos, which may affect fusion energy projects like ITER until tritium can be bred.

What sectors are US Nuclear's customers from?

US Nuclear serves a diverse clientele, including DOE national labs, nuclear power plants, pharmaceutical companies, and military entities.

How significant is the ITER project financially?

The ITER project is valued at over $20 billion, making it a major driver for advancements in fusion energy and related technologies.