– Edited By Tom Lamar –
GRIT International Inc., "GRIT" announced that it has signed an agreement to financially participate in the "Blue Castle Holdings – Nuclear Project." Blue Castle is developing the leading Western United States-based new nuclear power station. Participation in this clean energy project is a clear demonstration of GRIT's established corporate principles. We will "strive to be an environmentally friendly corporation by leading the forefront of technological advances and innovations to drive eco-friendly methods and technologies to new levels of efficiency."
GRIT's financial participation in this project will give GRIT a minority ownership stake in Blue Castle Holdings Inc. With the ownership stake, GRIT is awarded a position on the Engineering-Procurement-Construction (EPC) project committee. This enables GRIT to offer a wide range of services during deployment of the "Blue Castle Holdings – Nuclear Project." The synergies of GRIT's experience and expertise in sourcing materials for industrial applications and its service companies in GRIT DYNAMICS create a relationship that greatly benefits all parties within this project. GRIT could be participating in the sourcing of 750,000 tons of steel and 200 miles of pipe for the new nuclear project.
The need for new electric generation resources in the Western U.S. markets is being accelerated by the recent changes to EPA emissions standards. In 2005 these changes led to the closing of the 1,500 megawatt Mohave Power Station in Nevada. The EPA has targeted the 2,040 megawatt Four Corners Power plant in New Mexico to either improve emission or shutdown. Speculation is that the 2,280 megawatt Navajo Generation Station will be next. Blue Castle reports having 17 electric utilities in different stages of due diligence interested in participating in the new nuclear project because of the difficulty in developing new and operating existing coal fired electric generating resources.
The Blue Castle Project is on the Nuclear Regulatory Commission's list of expected new nuclear power plant applications. Four Early Site Permits for new nuclear power plants have been issued in the U.S. between 2007 and 2009, 17 applications for combined construction and operating licenses (COLAs) are under review by the NRC, and the first COL license is scheduled to be granted in December, 2012.
Another comment from GRIT CEO, Lawrence Zeiben, "I am sure that GRIT's participation in this project will change how we and our children's children look at power generation and emissions; and how like-minded people can set out to 'Change' and make the planet a better place for all of us to live."