Piketon, OH (HNN) – USEC has been told by the U.S. Department of Energy (DOE) that its application for a $2 billion loan guarantee for the American Centrifuge Plant at Piketon, Ohio has advanced to the next stage. According to a USEC press release, DOE has provided a draft term sheet that will serve as framework for discussions.
USEC is a leading supplier of enriched uranium fuel for commercial nuclear power plants. The centrifuge plant utilizes a “highly efficient uranium enrichment gas centrifuge technology” which will produce low enriched uranium and meet the demand for 20% of U.S. electricity supply.
The plant would rebuild U.S. nuclear manufacturing capacities. The construction phase would create 8,000 U.S. jobs in ten states with up to 4,000 in Ohio.
Earlier this year Babcock & Wilcox and Toshiba announced they will each invest $100 million in the Piketon facility.
“The Department’s decision to move forward reflects the significant progress we have made on both the technical and financial fronts in deploying the next generation of U.S. uranium enrichment technology,” said John K. Welch, president and CEO of USEC. “We are very pleased to receive DOE’s draft term sheet, which will provide a framework for further discussions. We look forward to working with DOE to continue advancing the project.”
USEC is investing in advanced centrifuge technology to meet the energy needs of a growing U.S. population, and to provide a long-term, reliable and secure fuel source for the U.S. and international nuclear power plants. USEC believes that the AC100 centrifuge machine that USEC will deploy in the American Centrifuge Plant will be the most advanced centrifuge uranium enrichment machine in the world.
As the only domestic enrichment facility using U.S. centrifuge technology, the American Centrifuge Plant will also help to rebuild U.S. nuclear manufacturing capabilities. This multi-year construction project would create nearly 8,000 U.S. jobs in ten states, with up to 4,000 in Ohio.
USEC has worked for the past decade to significantly improve and update the original U.S. centrifuge technology design developed by the Department of Energy using modern materials and techniques such as carbon fiber and computer-controlled assembly and operations. To date, USEC has invested more than $1.8 billion in the American Centrifuge Project including construction of the commercial American Centrifuge Plant in Piketon, Ohio and for technology development, testing and manufacturing centers in Oak Ridge, Tenn.
The centrifuge facility is located on a portion of the former Portsmouth Gaseous Diffusion Plant site, which is currently undergoing decommissioning and decontamination.
source: www.huntingtonnews.net
