LOS ANGELES, CA - (NewMediaWire) - June 03, 2024 - US Nuclear Corp. (OTC-QB: UCLE) continues to be the industry technology leader in its sector, and continues to find solutions, do the jobs that others cannot accomplish, and go where others cannot follow.
Below are highlights from 2023 as well as an update for shareholders:
Total sales revenue of $2,231,095 up from $2,091,366 the previous year, an increase of $139,729 or 6.68%
Gross profit of $924,306 up from $788,068 the previous year, an increase of 17.29%
Gross margin was a healthy 41.43% up from 37.68% the previous year, an increase of 3.75%
Year on year Overhoff division gross sales have increased four years running and Technical Associates two years running
US Nuclear has two manufacturing plants in Cincinnati, Ohio and Los Angeles, California, with sales representatives in a great many countries
Acquisitions and Mergers
US Nuclear has made acquisitions over the years:
Overhoff Technology, World's premier maker of Tritium monitors
Technical Associates, Maker of a wide range Radiation and Toxic chemical monitors
Electronic Control Concepts, Maker of medical X-ray test equipment
Cali From Above, Drones and drone services supplier
And is now actively looking for additional opportunities
Bob Goldstein, CEO of US Nuclear and graduate of MIT and Stanford in Physics and Engineering, provides the following highlights:
USN proceeds to develop and sell vitally needed health and safety equipment, specialized products and solutions that continue to grow in demand, commanding high markups and good profits. In particular, sales of our tritium monitoring products have increased as the use and market demand for these products surges.
We are also excited about our unique new PFAS monitoring product which can be used to detect even trace-amounts of PFAS contamination down to and below the EPA's strict new limits that were recently put into force. With the EPA's new standards requiring all companies and water utilities to start monitoring PFAS way down to a few parts per trillion, we expect to see an influx of new business for this product line.
US Nuclear's Overhoff Division is the Go-To Tritium Monitoring Solution
With fusion energy research and fusion power ushering in a new trillion-dollar industry, our tritium monitoring products will be at the center of this revolution and will see explosive growth as we are currently the go-to provider for tritium monitoring solutions.
The fusion power Joint European Torus (JET) recently set a new record demonstrating the ability to reliably generate fusion energy using tritium and deuterium as the fuel source, and with preparations for ITER and so many other multi-million and multi-billion dollar fusion projects well underway, the use and market demand for tritium gas and tritium monitoring products are surging.
Overhoff and its superior instruments maintain the top position due in part to its 50+ years of experience designing and manufacturing tritium monitoring products for the DOE, DOD, military, nuclear power plants, as well as medical and industrial customers.
It is exceptionally difficult to measure tritium accurately, and it requires decades of experience and specialized, finely tuned parts and procedures, all working perfectly in conjunction. As such, these specialty products command a high markup and good profits for unparalleled sensitivity, accuracy, and reliability.
Overhoff has already worked with all the largest tritium users in the world with extremely high customer retention due to the top performance brand recognition and reliability of their products, and will be the leading provider for all future tritium monitoring needs.
Drone Leadership
US Nuclear was the first company to sell drone mounted radiation sensors, and have stayed ahead of the field by offering the only full package of radiation, toxic and dangerous chemicals, greenhouse gases, drugs and fentanyl sensors. This market is rapidly expanding as more companies adopt this innovative technology, with US Nuclear selling these systems to numerous civilian and government agencies in the United States and many other countries abroad.
Growth of Nuclear Power and Medicine
Nuclear power provides about 10% of the world's electricity generation globally and 19% within the United States. There are currently 440 power plants operating globally, with 61 additional reactors currently under construction and 92 planned. Global demand for energy is straining supplies, creating unprecedented need for nuclear energy which is a no-carbon, green energy source capable of filling the gap.
US Nuclear is a leading supplier to the $32+ billion market of nuclear power plant radiation monitoring systems.
US Nuclear's investments in leading edge start-ups can make the world a better place
US Nuclear is proud to be Grapheton's partner and largest investor, and is incredibly excited about their potential to revolutionize therapies for disabled people of every sort. Grapheton has developed cutting-edge bioelectronic implants aimed at treating various ailments such as cardiac abnormalities, chronic pain, Parkinson's disease, and hearing loss, taking their technology a step further by using next-generation carbon-based material and multi-modal probes that read both electrical and chemical signals.
A large number of bioelectronic devices are implanted every year to treat various ailments, but up until now, the implants have been quite primitive compared with Grapheton's innovative technology which has been developed over the past 15 years by scientists at San Diego State University and has succeeded in overcoming some of the biggest hurdles in this field.
USN's z-pinch fusion energy start-up is marching swiftly ahead with each step
US Nuclear's investment in fusion power startup, is meeting and exceeding each milestone at higher and higher Mega Ampere power levels in the race to net positive energy production to feed our ever-growing need for more clean green electric power. This will prove pivotal as the market for fusion research and fusion energy explodes into a trillion-dollar industry.
Space Travel
Just as US Nuclear Corp. was the first to provide vital radiation sensors to America's Nuclear Navy in 1948, US Nuclear intends to outfit the new US Space Force as they go forth to protect America (but with newer high tech models, of course). Nuclear propulsion will be key to space travel, and recently the US military awarded a $33.7 million dollar contract to Lockheed Martin to develop nuclear spacecraft capable of carrying astronauts to Mars in just 45 days, which is drastically better than the 79 month voyage currently achievable and could show the way to interstellar spacecraft.
US Nuclear is incredibly excited about our current and future prospects and thanks you for all your support as we work together to make the world a safer, cleaner and healthier place to live a happy and prosperous life.
Bob Goldstein Chairman & CEO, US Nuclear Corp.
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.
