Northvolt CEO steps down after bankruptcy filing
Peter Carlsson, co-founder and leader of Northvolt since 2016, will remain as advisor as he quit a day after the firm filed for bankruptcy.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 12, 2011) – IBC Advanced Alloys Corp. (TSX VENTURE:IB)(PINK SHEETS:IAALF)(OTCQX:IAALF) (“IBC” or the “Company”) announces that Jim Malone, IBC’s Vice President of Nuclear Fuels, has been appointed as Chairman of the World Nuclear Association’s (www.world-nuclear.org) recently initiated Fuel Technology Working Group. The working group’s objective is to explore evolutionary fuel technologies with a view to developing, supporting and commercializing alternative fuel-types for the nuclear industry.
The Fuel Technology Working Group is specifically focused on investigating and assessing the viability of commercializing a number of fuel-type variants, including high thermal conductivity beryllium oxide fuel such as being developed by IBC with Purdue and Texas A&M universities. The first meeting of the Fuel Technology Working Group will take place on September 12, 2011 in London, England at the Annual World Nuclear Association Symposium.
Mr. Malone’s appointment reaffirms his position as an acknowledged nuclear industry leader and nuclear fuel expert with more than 40 years of senior experience in the downstream business. Most recently he was Vice President, Nuclear Fuels at Exelon Corp., where he was responsible for their nuclear fuel cycle activities, including fuel procurement, safeguards, economics, and fuel cycle costs. Mr. Malone is also Chairman of the Board of Hathor Exploration Ltd., a junior uranium exploration and development company.
“IBC commends Jim for this prestigious appointment with the World Nuclear Association,” said Anthony Dutton, President and CEO of IBC Advanced Alloys. “Jim’s role as Vice President of Nuclear Fuels for IBC has led to significant developments of our Company’s beryllium oxide nuclear fuel development program, and we believe his role with the Fuel Technology Working Group will foster a greater understanding of alternative fuel technologies, and potential cost efficiencies and safety improvements for the existing industry.”
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC’s common shares are traded on the TSX Venture Exchange under the symbol “IB” and on the OTCQX under the symbol “IAALF”.
This news release was prepared by management of IBC, which takes full responsibility for its contents.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
