An expected new agreement between USEC Inc. and the U.S. Department of Energy (DOE) will advance the American Centrifuge project. DOE intends to provide $45 million to support USEC's demonstration and testing activities. Congressman Zach Wamp supports this agreement and has repeatedly emphasized the importance of the American Centrifuge project to create a leading enrichment facility for civilian power. Support provided by this funding will better position USEC for a loan guarantee that will create approximately 8,000 American jobs.
"This will save approximately 100 Tennessee jobs and help maintain a highly-skilled, precision manufacturing workforce that is years in the making. Moving forward will keep our country competitive and at the forefront of nuclear technology development," said Congressman Wamp. "Supporting uranium enrichment demonstrates support of the American nuclear industry - from naval reactors in the defense industry, to the stewardship of our uranium stockpile at weapons complexes across the country, to the commercial nuclear industry."
Congressman Wamp has worked closely with USEC and DOE to continue research and development while USEC works to address technical and financial concerns. He pushed for language supporting American Centrifuge technology in the Fiscal Year 2010 Defense Appropriations bill to develop domestic gas centrifuge enrichment technology. Once USEC demonstrates the commercial readiness of the technology, it can move to commercial scale uranium enrichment operations and serve as a domestic source of fuel for nuclear power. The centrifuge machines are expected to be the most advanced and productive in the world. USEC currently runs the only U.S. owned and operated uranium enrichment facility that can meet domestic energy and national security needs.
source: www.tradingmarkets.com
