August 21, 2006

Company will work on thorium based reactors

Northamerican Energy Group Corporation (Pink Sheets:NNYG) announced today that it has signed an agreement with Bayport Corporation of Tulsa, Oklahoma, to establish a wholly owned division of Northamerican Energy, which will research, and develop, both Thorium-based nuclear power generation facilities, and Thorium-based power cells.

It is estimated that 225 of the 444 commercial nuclear power plants in operation worldwide are suitable candidates for conversion to Thorium/uranium fuel and those possibilities to build new, or convert existing, power plants in foreign countries such as Africa, South America, China and other Asian countries will also be explored as part of potential business opportunities.

Thorium reactors leave behind very little plutonium, meaning that governments have as much as 80% reduced availability to weapons-grade plutonium for the making of nuclear weapons.

Thorium Power is another company making Thorium reactors

It would be better if they made liquid fluoride thorium reactors

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